Worldwide Demand For Animal Genetics Is Anticipated To Reach US$ 11.5 Billion By 2032-End

The global animal genetics market is set to enjoy a valuation of US$ 6.3 Billion in 2022 and further expand at a CAGR of 6.2% to reach US$ 11.5 Billion by the end of 2032. With peaking technological advancements and acceptance of animal genetics, North America is expected to offer most opportunistic market over the assessment period holding a share of 33.1% market share in 2021.

One of the cornerstones of livestock production is animal genetics. It covers a wide range of topics, including local, national, regional, and global behavior, from characterization and conservation to genetic improvement. The adoption of innovative technology to treat animal diseases, rising meat consumption, soaring demand for high-quality proteins, and rising pet ownership and companion animal spending are driving the global market for animal genetics. Owing to the aforementioned factors the animal genetic market is poised to grow at a healthy compound annual growth rate of 6.2% in 2022-2032 forecasted years.

In the fight against animal sickness and suffering, the animal genetics sector is looking for alternate approaches. These include the use of reproductive indicators based on data and health, as well as research on ground-breaking technologies like gene editing and immunogenetics.

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What’s Driving Demand for Animal Genetics?

“Increased Demand for Animal Proteins and High Quality Meat to Supplement the Live Animals Segment.”

With an increased active healthcare concerned population the demand for animal based protein and dietary supplements in the market has increased. Animal protein that is safe and of good quality must be produced at a reasonable cost. Natural resource depletion, increased emphasis on food safety, and increased demand for better nutrition (particularly animal protein) are all influencing the utility of cattle therapies and diagnostics. This is predicted to In 2021, the live animals sector accounted for a considerable proportion of US$ 2.9 Billion in the global market. From 2022 to 2032, the segment is anticipated to expand at a significant pace with 6.2% CAGR. The segment is projected to be driven in the near future by steep rises in demand and consumption of animal products, as well as rapid development in urban population around the world.

“Technological Modulations to Drive the Animal Genetics Market”.

Due to their various superior efficiency over semen, embryos have proven crucial in the genetic modification of living animals. Several livestck farmers have also seen an increase in the reproductive rate of bovine animals, which has an indirect impact on their profitability.

Furthermore, an embryo has a cheap import cost on the scale of genetic materials, which improves its predilection for genetic modification processes. Embryo remains a dominant genetic material due to superior outcomes and economic benefits, with the sub-segment expected to grow at a CAGR of 7 % during the projection period.

With a growing emphasis on hygiene in animal shelters, this technology decreases the possibility of disease transfer during animal mating, which will ultimately be improving cattle quality.

Will the Progression of Animal Healthcare Sector in the U.S. Drive High Demand for Animal Genetics?

Due to growing government initiatives, increased acceptance of cutting-edge genetic technology, and high consumption of animal-derived proteins, North America maintains a significant portion of the global market for animal genetics. The development of better breeding practices that result in animals that are strong, healthy, and able to utilize nutrients for effective growth and reproduction are the main factors driving the market’s expansion in the region.

Additionally, the prevalence of infectious diseases among animals is predicted to rise, particularly among poultry and pigs, which will increase the demand for high-quality breeds by requiring sophisticated biotechnology methods.

Cattle stocks in the United States totaled 91,800 thousand in 2021 and 93,595 thousand in 2020, according to the United States Department of Agriculture’s (USDA) Livestock and Poultry: World Markets and Trade, 2022 report. Thus, it is anticipated that the country’s strong cattle production will benefit the market under investigation.

The development of cutting-edge technologies for animal genetic testing and raised awareness of animal welfare are also contributing to the market growth in this area. Thus, owing to the above mentioned trends and facts the North America animal genetics market is estimated to grow by UD$ 3.5 Billion in forecasted period 2022-2032.

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Competitive Landscape

Esteemed animal genetics players are Zoetis, Inc., Genus plc, Neogen Corporation, CRV Holding B.V., Groupe Grimaud, Topigs Norsvin, VetGen, Animal Genetics Inc., Hendrix Genetics BV.

The leading players of animal genetics throughout the world are using sustainable technique and refining strategies for a range of end customers. Additionally, the leaders’ main marketing plan is based on their professionalism and aptitude for planning, developing, and delivering the best solutions. Providers in the market also want to expand geographically into emerging and moderate nations to sell their products.

The market for animal genetics is fragmented worldwide, with a large number of firms holding the parts of the market share. The main strategies used by major players are product portfolio expansion, mergers, and acquisitions.

A contract to jointly establish a research and trial farm in Finland an agreement was signed in March 2022 by HKScan, Topigs Norsvin, and Royal Agrifirm Group. In accordance with the agreement& collaboration creation of the best pig production procedures for future requirements is the company’s goal.

The National Institute of Food and Agriculture (NIFA) committed USD 5 million in January 2022 to genetically improve livestock production nationwide.

ABS Global established a cooperation with Bair Ranch in January 2021 in an effort to show the possible effects of the cow-calf management system for the use of sex-skewed semen and terminal genetics.

Segmentation of Animal Genetics Industry Research

By Product Type :

• Live Animals
• Bovine
• Porcine
• Poultry
• Canine
• Piscine
• Others
• Genetic Material
• Semen
• Embryo
• Others
• Genetic Testing

 By Region :

• North America
• Latin America
• Europe
• East Asia
• South Asia & ASEAN
• Oceania
• MEA

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