Animal Genetics Market to hit US$ 9.56 Billion by 2030 | Exclusive Report by Growth Plus Reports

| Source: Growth Plus Reports Growth Plus Reports

Pune, Oct. 28, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the Global Animal Genetics Market is expected to clock US$ 9.56 billion by 2030 and to grow at a CAGR of 5.5% during the forecast period. Owing to the rising adoption of advanced genetic technologies and the increase in the implementation of animal welfare acts. This exclusive information is published by Growth Plus Reports in its report titled “Animal Genetics Market – Global Outlook & Forecast 2022-2030”

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Market Drivers

The market is being driven by increased adoption of advanced genetic technologies and an increase in the implementation of animal welfare acts. Similarly, increased awareness of veterinary genetic diseases and an increase in livestock animal population to meet unmet demand for animal derived proteins fuel the market. Moreover, growing funding for animal genetics research, advancements in genetic technologies, and an increase in the implementation of animal welfare acts will drive market growth over the forecast period. Furthermore, the increasing focus of animal genetics providers on producing poultry animals with higher productivity to meet the growing demand for dairy products and meat will have an impact on market expansion.

Excerpts from ‘By Animal Segmentation’

Based on animal, the global animal genetics market has been segmented into:

  • Poultry
  • Porcine
  • Bovine
  • Canine
  • Others

The porcine segment is expected to grow rapidly during the forecast period, owing to increased demand for porcine meat in major countries such as the United States and most European countries. As a result of this factor, massive amounts of pork have been produced, which is expected to benefit this segment during the forecast period. According to the United States Department of Agriculture (USDA), Livestock and Poultry: World Markets and Trade, January 2022 report, total pork production in the United States in 2021 was 12,487 thousand metric tonnes, up from 12,568 thousand metric tonnes in 2020, and total pork exported from the United States was 3,175 thousand metric tonnes in 2021, up from 3,215 thousand metric tonnes in 2020. As a result, the global demand for pork drives the demand for high-quality meat and the development of disease-resistant breeds. This will result in a greater use of genetic testing in porcine breeding to exploit sentient genetic traits. As a result, this factor is expected to drive the growth of the segment over the forecast period.

Excerpts from ‘By Region Segmentation’

Based on region, the global animal genetics market has been segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

North America accounts for a largest portion of the animal genetic market because of increased government initiatives, increased adoption of advanced genetic technologies, and high consumption of animal-derived proteins. The improved breeding strategies to produce healthy, vigorous animals capable of using nutrients for efficient growth and reproduction are the major drivers for the growth of the studied market in the region. Furthermore, the rising prevalence of infectious diseases in the animal population, particularly among poultry and pigs, is expected to increase demand for advanced biotechnological strategies for developing high-quality breeds. Countries in regions such as Asia Pacific are also constantly contributing to animal genetics research and development. For instance, in March 2019, A group of Kunming Institute of Zoology researchers in China inserted a human gene (microcephalin, which is responsible for brain development in humans) into a rhesus monkey. It was discovered that the treated monkeys resembled human brains. Such significant developments are expected to boost the global animal genetics market's growth.

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Excerpts from ‘Competitive Landscape’

Some of the prominent players in the global animal genetics market include

  • Genus Plc
  • Envigo Corporation
  • Topigs Norsvin
  • EW Group GmbH
  • CRV Holding B.V
  • Groupe Grimaud La Corbiere SA
  • Hendrix Genetics BV
  • Neogen Corporation
  • Zoetis, Inc
  • URUS
  • Animal Genetics, Inc
  • Alta Genetics Inc

The animal genetics market is moderately competitive, with a number of key players. To secure their positions in the competitive landscape, the companies are evolving through various strategies such as acquisitions, collaborations, product launches, and investment in research and development activities.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years - 2020
      2. Base Years - 2021
      3. Forecasted Years – 2022 to 2030 
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trend (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL ANIMAL GENETICS MARKET - ANALYSIS & FORECAST, BY ANIMAL
    1. Poultry
    2. Procine
    3. Bovine
    4. Canine 
    5. Others
  6. GLOBAL ANIMAL GENETICS MARKET - ANALYSIS & FORECAST, BY GENETIC MATERIAL
    1.  Embryo
    2. Semen
  7. GLOBAL ANIMAL GENETICS MARKET - ANALYSIS & FORECAST, BY SERVICES 
    1. DNA Typing
    2. Genetic Trait Tests

TOC Continued...

VALUE PROPOSITIONS RELATED TO THE REPORT:

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  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • 'Business Profile' of Key Players

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