At US$ 8 Bn in 2026, Animal Genetics Market Value will grow by US$ 2.7 Bn Since 2019
Lower Import Cost Positions Embryo to Remain Top Choice for Genetic Material, Sales to Grow by 6% CAGR through 2026
Fact.MR’s latest study offers comprehensive analysis of the animal genetics market. The report presents analysis of factors, covering drivers, restraints, and growth strategies adopted by leading market players, influencing growth through 2026. It is compiled to help companies navigate through unprecedented challenges and uncover hidden opportunities across various market segments in terms of product and region. [PMT1]
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a recent analysis by Fact.MR, the global animal genetics market is poised to total US$ 8 Bn by the end of 2026. Driven by the advent of progressive genetic modification techniques and strategic breeding, the market is anticipated to witness lucrative growth opportunities over the forecast period.
Demand for animal-derived products such as meat and milk is ascending on the back of rising emphasis on a balanced dietary pattern. Sales of poultry meat and eggs are gaining traction as they continue to remain consumer favorites as vital sources of protein and nutrients.
The aforementioned factors are encouraging producers to improve yield through animal genetics technology. Livestock farmers also are aiming at higher productivity in bovine animals. This will in turn create opportunities for the animal genetics market growth, finds Fact.MR in its latest study.
The report also highlights scope for investment in by-products of poultry, which are used as manure and incorporated in animal feed. This, coupled with expansions of the foodservice and livestock industry, will continue propelling sales of animal genetics in the forthcoming years.
Rising incidence of respiratory diseases and risk of disease transmission during mating have resulted in increasing government expenditure on animal healthcare. Considering this, there is high focus on hygiene maintenance in animal farms, which has paved scope for the adoption of animal genetic techniques.
As per Fact.MR, the surging demand for meat and poultry in North America will place it as a lucrative animal genetics market over the forecast period. Increasing adoption of novel technological methods of artificial insemination will improve livestock production. In addition to this, the presence of well-established food industry will continue boosting sales of animal genetics in the region over the assessment period.
“Among various options available, embryo will remain the preferred genetic material in the market. The sub-segment is well positioned to exhibit growth by 6% through 2026. Demand in this category will rise on account of its lower import cost than other materials,” added a Fact.MR analyst. [PMT2]
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Key Takeaways from Animal Genetics Market Survey
- Poultry animals subsegment is projected to grow at a 6.5% CAGR over the forecast period.
- Demand for high-quality livestock in Asia Pacific is projected to continue rising.
- North America is poised to lead the global animal genetics market, backed by the presence of key market players and high investments in animal healthcare.
- Increasing population density in developing nations is spurring demand for high-quality animal-derived products. This is expected to propel sales of animal genetics.
- Integration of artificial insemination and other advanced technologies will continue boosting sales of animal genetics products.
- Lack of skilled professionals and high costs associated with animal testing might stunt market growth.
- Introduction of alternatives such as lab-grown meat might hamper market growth.
Ask Your Animal Genetics Market Related Questions & Get Customized Reports
Leading players operating in the global animal genetics market are focusing on intensive research and development activities for developing effective and accessible technologies for animal husbandry. Besides this, strategic collaborations, mergers, and acquisitions will remain key strategy aiding players to gain a competitive edge in the market. For instance:
- In September 2020, Genus Plc announced a strategic collaboration with Tropic Biosciences, a leading agricultural biotechnology company, to explore the applications of Tropic's Gene Editing induced Gene Silencing (GEiGS) technology in porcine and bovine genetics.
The collaboration will allow Genus and Tropic to leverage the GEiGS platform in investigational research programs that are aimed to accelerate genetic improvements for farmers dealing with animal diseases and contamination issues.
Key Players in the Animal Genetics Market Include:
- Zoetis, Inc.
- Genus plc
- Neogen Corporation
- CRV Holding B.V.
- Groupe Grimaud
- Topigs Norsvin
- Animal Genetics Inc.
- Hendrix Genetics BV
More Valuable Insights on Animal Genetics Market
Fact.MR provides an unbiased analysis of the animal genetics market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2020-2026. The study divulges compelling insights on the global animal genetics market with a detailed segmentation on the basis of:
- Live Animals
- Genetic Material
- Genetic Testing
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Key Questions Covered in the Animal Genetics Market Report
- The report offers insight into animal genetics market demand outlook for 2020-2026
- The market study also highlights projected sales growth for animal genetics market between 2020 and 2026
- Animal genetics market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Animal genetics market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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[PMT1]Does not read up to the market. Please follow the changes and try using interesting snippets for this section since this is the first thing a reader’s eye is on when in lands on this page.
[PMT2]Keep it analytical. Include information on sub-segments or any other category that you might not have used in the key findings or in PR body. This way, you will improve the authenticity of your PR.