The global Animal Genetics market size is expected to be worth around US$ 8.15 billion by 2028, according to a new report by Vision Research Reports.
The global Animal Genetics market size was valued at US$ 6.15 billion in 2020 and is anticipated to grow at a CAGR of 4.11% during forecast period 2021 to 2028.
The market for animal genetics is anticipated to witness rise in demand owing to factors such as increasing consumption of animal proteins and rapid global urbanization. To fulfill the continuously rising demand, the preference for genetics to breed high-quality livestock and secure large production has increased. The demand for animal genetics has increased over the years, owing to rise in various animal diseases, increasing prevalence of zoonotic diseases, and rise in adoption of pets & companion animals.
According to Food and Agriculture Organization (FAO) publication 2017, livestock contributes almost 40% to the global value of agricultural output, and it supports food security and livelihood of more 1.5 billion people worldwide. However, the increasing land requirement for these animals and grazing is a major environmental concern. Public awareness regarding such concerns is a major reason leading to the shift toward white meat and vegan lifestyle, impeding growth of animal genetics. However, increasing support and research by government organizations to improve productivity is aiding growth. For instance; Animal Improvement Program Launched in 2014, by Animal Genomics and Improvement Laboratory (AGIL), which is an agricultural research service organization of USDA. The program aims at improving productivity and efficiency of dairy animals & ruminants.
The market follows the standards set by International Society of Animal Genetics (ISAG) and leading animal research laboratories such as The University of California Davis (U.C. Davis). The ISAG standard panel consists of 18 STR markers, and any company in animal genetics needs to follow the panel and standards set by the authorities. The need for high investments in development of new technology and the duration of product launch are some of the major factors resulting in steady growth. However, increasing population is expected to pose an ongoing challenge due to rise in the need for animal protein, aiding developments in the market.
Based on live animal genetic materials, the porcine segment held the largest share in 2020. This largest share can be attributed to various factors, such as a large consumer base for pork meat and its products, as well as growing penetration of advanced genetic research. Furthermore, the segment is also expected to grow due to environmental factors such as comparatively limited land requirements and the low need for maintenance of animals.
Increasing the shift toward white meat consumption is a major factor leading to higher growth in the poultry segment. Furthermore, pocket-friendliness and low rate of food-related disease transmissions are the major factors propelling genetic research in the poultry segment. Rising government efforts to reduce environmental effects and create awareness in the European countries have led a consumer shift from red meat toward white meat. This shift is expected to create new opportunities for animal genetics to boost white meat production to meet the growing demand.
Based on genetic material, the embryo segment held the largest market share in 2020 and is expected to maintain its position during the forecast period. The high segment revenue can be attributed to the higher efficiency of the embryo compared to semen. Embryo transfer in cattle is primarily done to amplify reproduction rates. The cost of importing the embryos is often lower as compared to semen and postnatal animals, and embryo makes it possible to change the breed of the entire herd within a single generation.
On the other hand, the semen segment is expected to grow at the fastest CAGR during the forecast period. This high growth can be attributed to increasing adoption of semen sexing and AI for cattle, sheep, pigs, and goats breeding.
Based on services, the genetic disease test segment is anticipated to grow at the highest rate during the forecast period. This growth can be attributed to the growing adoption of genomic tests to prevent financial losses and loss of live animal productivity, in the case of farm owners. DNA typing and parentage testing is the most common service provided by animal genetic companies.
Growing pet ownership is a major factor leading to the market growth of the genetic disease testing segment. Genetic trait tests, such as tests for coat color, and parentage tests are expected to rise with increasing pet population. Furthermore, genetic disease tests in livestock animals are also expected to grow during the forecast period, to ensure disease-free breed of animals.
North America is the largest shareholder in the animal genetics market, owing to high research on animal genetics and the adoption of strategic activities by industry players, such as acquisitions.
Europe held the second-largest market for animal genetics, majorly due to rising awareness about animal wellbeing and increased expenditure on veterinary services. As per a European Pet Food Industry Federation 2017 publication, more than 75 million households own a pet in the region.
Genus Plc; Envigo Corporation; Topigs Norsvin; CRV Holding B.V; Groupe Grimaud La Corbiere SA; Hendrix Genetics BV; Neogen Corporation; Zoetis, Inc; URUS; and Animal Genetics, Inc.
Live Animal Outlook
Genetic Materials Outlook
Genetic Trait Testing
Genetic Diseases Testing
The Animal Genetics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Animal Genetics market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Animal Genetics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Animal Genetics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Animal Genetics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Animal Genetics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Animal Genetics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Animal Genetics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Animal Genetics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Animal Genetics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Animal Genetics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Animal Genetics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Animal Genetics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Animal Genetics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Animal Genetics market. These factors have benefited the growth of the global market for Animal Genetics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Animal Genetics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Animal Genetics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Acromegaly Treatment Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Cancer Immunotherapy Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Preterm Birth and PROM Testing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Anti-aging Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Veterinary Pain Management Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...