Dublin, June 21, 2021 (GLOBE NEWSWIRE) -- The "Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Traits Testing)) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global animal genetics market is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1% during the forecast period.
The growth in this market is driven by the increasing consumption of animal-derived protein, growing global population & rapid urbanization, growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases & business loss, and increased adoption of advanced genetic technologies. On the other hand, the shortage of skilled professionals in veterinary research, and emergence of alternatives like lab-based meat are some factors restraining market growth.
The live animals accounted for the largest share of the animal genetics market in 2020.
Based on products and services, the animal genetics market has been segmented into live animals, genetics materials, and animal genetic testing services. The factors attributing to the large revenue of the live animals segment include the high demand for live animals for breeding purposes. The introduction of disease-resistant animals has further boosted the demand for live animals, as they are economically viable for owners and increase their profitability.
The market in Asia Pacific is projected to witness the highest growth rate during the forecast period (2021-2026).
Europe accounted for the largest share of the animal genetics market in 2020. Better accessibility to technologies and well-established distribution channels, the growing demand for livestock food products, high intake of animal-derived proteins, and increasing animal welfare activities in the developed countries of Europe and North America account for their larger market shares.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Growth Potential of the Animal Genetics Market
4.2 Asia-Pacific Animal Genetics Market
4.3 Animal Genetics Market: Geographic Growth Opportunities
4.4 Regional Mix: Animal Genetics Market (2019-2026)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Increasing Consumption of Animal-Derived Protein and Dairy Products
5.2.1.2 Growing Global Population and Rapid Urbanization
5.2.1.3 Increasing Customer Awareness
5.2.1.4 Increased Demand for Companion Animals
5.2.1.5 Genetic Services to Prevent Genetic Diseases and Business Loss
5.2.1.6 Increased Adoption of Advanced Genetic Technologies
5.2.2 Market Restraints
5.2.2.1 The Emergence of Alternative Such as Lab-Based Meat
5.2.3 Opportunities
5.2.3.1 Untapped Market Potential in Developing Countries
5.2.3.2 Innovations in Phenotyping Services
5.2.3.3 Significant Investments in R&D and Expansions by Key Players
5.2.4 Challenges
5.2.4.1 Need for Specific Breeding Programs for Breeds with Inferior Economic Performance
5.2.4.2 Economic Sustainability in Local Breeds
5.2.4.3 African Swine Fever Outbreak in China and Further Spread
5.2.4.4 Shortage of Skilled Professionals in Veterinary Research
6 Industry Insights
7 Animal Genetics Market, by Product & Service
8 Animal Genetics Market, by Region
9 Competitive Landscape
10 Company Profiles
10.1 Key Players
10.1.1 Neogen Corporation
10.1.2 Genus
10.1.3 Urus
10.1.4 Ew Group Gmbh
10.1.5 Groupe Grimaud
10.1.6 Crv Holding
10.1.7 Topigs Norsvin
10.1.8 Zoetis
10.1.9 Envigo
10.1.10 Hendrix Genetics
10.1.11 Animal Genetics
10.2 Other Players
10.2.1 Vetgen
10.2.2 Danbred
10.2.3 Tropical Bovine Genetics
10.2.4 Trans Ova Genetics
10.2.5 Inguran LLC Dba St Genetics
10.2.6 Semex Alliance
10.2.7 Genetic Veterinary Sciences
10.2.8 Cobb-Vantress
10.2.9 Milk Source
10.2.10 Eurogene Ai Services
10.2.11 Agri-Gene
10.2.12 Accelerated Genetics
10.2.13 Viking Genetics
10.2.14 Indical Bioscience
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/lu5esb