Global Animal Genetics Market Assessment, By Products and Services [Animal Genetic Products, Genetic Materials, Animal Genetic Testing Services], By Animal Type [Farm Animal, Companion Animal], By End-user [Veterinary Hospitals and Clinics, Research Center and Institutes], By Region, Opportunities and Forecast, 2017-2031F

Animal Genetics Market is projected to witness a CAGR of 7.05% during the forecast period 2024-2031, growing from USD 6.83 billion in 2023 to USD 11.78 billion in 2031.

Animal Genetics Market Size, Share & Growth Report, 2031

Global animal genetics market&nbsp;is projected to witness a&nbsp;CAGR of 7.05%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 6.83 billion&nbsp;in 2023 to&nbsp;USD 11.78 billion&nbsp;in 2031. Under the influence of increasing product innovations, supportive government initiatives, rising demand for animal-derived protein, and expanding educational efforts on animal genetic testing, the market is expected to grow significantly and gain momentum throughout the forecast period.
Global animal genetics products hold a significant position in agriculture and livestock. Such products have a very critical impact on animal breeding and management. With the advancement of genetic technology, the demand for superior breeding in livestock increased. Better animal health and superior precision breeding also escalated the market. Regulatory approvals and advancements in genetic study determine market dynamics.
Increased investment in genetic research and higher global demand for animal-based protein could drive the pace of the global animal genetics market. The growth of education about the test also facilitates such trend developments. Emerging markets would bring more changes to the global animal genetics market as they grow. Such change would present opportunities and challenges on both sides. The introduction of new genetic tools and technologies such as CRISPR therapy ensures the market is lively and progressive. For example, in June 2023, researchers from the McGovern Institute for Brain Research at Massachusetts Institute of Technology (MIT) discovered a novel CRISPR-like system in animals, known as Fanzor, which can potentially provide more accurate DNA editing capabilities than current CRISPR/Cas systems.
<h2 style="text-align: justify;">New Product Developments and Government Initiatives Drive Market Growth</h2>
Increased new product introductions and various government initiatives are the significant drivers of the animal genetics market. New products increase the capability for improvement in livestock quality through advanced genetic testing tools and breeding technologies. They also enhance productivity and respond to increasing demand for better animal health and performance. Meanwhile, governments provide crucial support through funding research grants and favorable policies. Such policies would spur the adoption of advanced technologies. Adding to these advances in genetic solutions promotes the market's growth. For example, the Indian government funded a project on developing a high-density single-nucleotide polymorphism (SNP) chip with the National Institute of Animal Biotechnology (NIAB) in Hyderabad. This chip is meant to detect pure indigenous cattle breeds and elite animals, and the governments are behind such advances in animal genetics.
<h2 style="text-align: justify;">Growing Adoption of Animal-Derived Protein Promotes Market Growth</h2>
Increased adoption of animal-derived protein is cited as a major factor for the expansion of the animal genetics market. As the consumption of animal-based protein globally continues to rise, demand for improved, high-performance livestock goes up as well, which in turn spurs the usage of advanced genetic technology to further develop traits such as growth rate, feed efficiency, and disease resistance in animals. The growth in demand propels the adoption of genetic techniques to improve breeding, but the ultimate purpose is to increase animal productivity. This targeted addition of value aimed at bettering the animal population quality is compounded directly by the big and emerging market specifically targeted on animal genetics. The industry concentrates on developing and providing sophisticated genetic tools and genetics to the market. In fact, according to a University of Minnesota College of Food, Agricultural, and Natural Resource Sciences-led CFANS Insights survey, 80% of adult consumers in the United States prefer pork, beef, poultry, and fish as their primary sources of protein. High demand for animal-derived proteins still prevails and shows no indication of giving way to alternative protein sources, despite the rising interest in the latter.
<h2 style="text-align: justify;">Porcine Segment Dominates the Global Animal Genetics Market&nbsp;</h2>
Porcine is considered one of the growth drivers in this global market of animal genetics. High demand for pork across the world encourages the development of advanced genetic methods to enhance characteristics such as speed of growth, feed efficiency, and resistance to diseases in pigs. Improvements in pig genetics, such as advanced breeding methods, and genetic evaluations facilitate a better improvement in the increased production from better market requirements. According to data published by the Food and Agriculture Organization in 2023, global pork production was at 124.5 million tons and had risen by 1.4% compared to the previous year. This growth was mainly due to ongoing expansion in Asia, but a decline in European production partially offset these gains. This interest in swine genomics fuels the growth of the market and attracts significant investment and research, which further strengthens the porcine sector's vital place within the overall animal genetics industry.
<a href="https://www.marketsandata.com/industry-reports/animal-genetics-market/sample-request">Download Free Sample Report</a>
<h2 style="text-align: justify;">North America Dominates Global Animal Genetics Market Share</h2>
North America is at the forefront of the global animal genetics market, given the innovative advancements in genetic technologies, the strong agricultural industry, and significant investments in research and infrastructure. Demand for animal products is high in the region, driving the quest for new genetic solutions to improve production and quality. With favorable regulatory frameworks and cutting-edge breeding programs, North America capitalizes on up-to-date genotypic techniques appropriately in its endeavor to secure its leadership position in the global market. For instance, the FDA's release of GFI #187A and draft GFI #187B in May 2024 has indicated a commitment to advancing and regulating innovative genetic technologies a move that builds on the leading position of the region in the global animal genetics market industry.
Future Market Scenario (2024-2031F)
1.&nbsp;The Rashtriya Gokul Mission is a flagship Indian government program, aimed at boosting the Indian animal genetics market. It focuses on the preservation and improvement of native bovine breeds using traditional methods with modern technologies. Innovation in genetic tools and breeding programs is encouraged through this mission, which brings a boost to the sustainability of livestock management besides promoting the market through genetic research and a hike in livestock productivity.
2.&nbsp;In January 2024, the European Partnership on Animal Health and Welfare (EUP AH&amp;W or EUPAHW) Europe's most ambitious initiative launched by the European Commission to address infectious diseases in animals as well as advance animal welfare. It has an investment commitment of USD 400 million (&euro;360 million) for seven years to help improve research and bring on board a collaborative relationship with multiple stakeholders. This will embed a 'One Health and One Welfare' approach to stimulate societal impact and enhance cooperation across sectors.&nbsp;
Report Scope
&ldquo;Animal Genetics Market Assessment, Opportunities, and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, that provides in-depth analysis and qualitative and quantitative assessment of the current state of the global animal genetics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
<table>
<tbody>
<tr>
<td width="301">
Report Attribute
</td>
<td width="301">
Details
</td>
</tr>
<tr>
<td width="301">
Base Year of the Analysis
</td>
<td width="301">
2023
</td>
</tr>
<tr>
<td width="301">
Historical Period
</td>
<td width="301">
2017-2022
</td>
</tr>
<tr>
<td width="301">
Forecast Period
</td>
<td width="301">
2024-2031
</td>
</tr>
<tr>
<td width="301">
Projected Growth Rate
</td>
<td width="301">
CAGR of 7.05% between 2024 and 2031
</td>
</tr>
<tr>
<td width="301">
Revenue Forecast in 2031
</td>
<td width="301">
USD 11.78 billion
</td>
</tr>
<tr>
<td width="301">
Segments Covered
</td>
<td width="301">
Products and Services, Animal Type, End-user
</td>
</tr>
<tr>
<td width="301">
Regions Covered
</td>
<td width="301">
North America, Europe, South America, Asia-Pacific, Middle East and Africa
</td>
</tr>
<tr>
<td width="301">
Key Companies Profile
</td>
<td width="301">
Neogen Corporation, Hendrix Genetics B.V., URUS Group LP, CRV Holding B.V., International Swine Genetics, Inc., Topigs Norsvin Nederland B.V., Animal Genetics Inc., Generatio GmbH, Zoetis Services LLC, and Genus plc
</td>
</tr>
<tr>
<td width="301">
Customization Scope
</td>
<td width="301">
15% free report customization with purchase
</td>
</tr>
<tr>
<td width="301">
Pricing and Purchase Options
</td>
<td width="301">
Avail the customized purchase options to fulfill your precise research needs
</td>
</tr>
<tr>
<td width="301">
Delivery Format
</td>
<td width="301">
PDF and Excel through email (subject to the license purchased)
</td>
</tr>
</tbody>
</table>
In the report,&nbsp;global animal genetics market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Products and Services
<ul>
<li>Animal Genetic Products
<ul>
<li>Live Animals
<ul>
<li>Poultry</li>
<li>Porcine</li>
<li>Bovine</li>
<li>Carnine</li>
<li>Others</li>
</ul>
</li>
<li>Genetic Materials
<ul>
<li>Semen</li>
<li>Embryos</li>
<li>Others</li>
</ul>
</li>
<li>Animal Genetic Testing Services
<ul>
<li>Genetic Disease Tests</li>
<li>Genetic Trait Tests</li>
<li>DNA Typing</li>
<li>Others</li>
</ul>
</li>
<li>By Animal Type
<ul>
<li>Companion Animal</li>
<li>Farm Animal</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Veterinary Hospitals and Clinics</li>
<li>Research Centers and Institutes</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global animal genetics market is quite competitive, with a huge number of players at local levels. Regulatory approvals of company products, mergers and acquisitions, and collaborations are the most common market strategies that have been observed in recent times.
In March 2024, HerdWhistle Technologies Inc., a Canadian precision livestock company, partnered with Hendrix Genetics B.V., one of the world's leading multi-species animal genetics companies, to improve precision farming technologies. The collaboration is aimed at helping swine producers improve their performance and profitability through more precise livestock management. Given that advanced technologies are incorporated into livestock management, such collaboration promotes growth in the animal genetics market, underlining that the industry has begun its journey toward precision and data-driven approaches for improved breeding and production outcomes.
In December 2023, Genetics Australia Holdings Pty Ltd (Genetics Australia) acquired Auzred XB Genetics, Inc. (Auzred XB). This acquisition comprises the management of the semen portfolio of Auzred XB, characterized by six key active sites. The strategic acquisition is intended to strengthen the Australian Red breeding program, promote sustainable growth, enhance Genetics Australia's market position, and pursue new export opportunities. This is expected to boost growth in the market for animal genetics, building strength into the Australian Red breed and broadening market presence and new pathways to export markets, thus contributing to the overall growth and innovation of the sector.
Key Players Operating in Global Animal Genetics Market are:
<ul style="text-align: justify;">
<li>Neogen Corporation</li>
<li>Hendrix Genetics B.V.</li>
<li>URUS Group LP</li>
<li>CRV Holding B.V.</li>
<li>International Swine Genetics, Inc.</li>
<li>Topigs Norsvin Nederland B.V.</li>
<li>Animal Genetics Inc.</li>
<li>Generatio GmbH</li>
<li>Zoetis Services LLC</li>
<li>Genus plc</li>
</ul>
Markets and Data&rsquo;s report answers the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
If you can't find what you're searching for or have any custom requirements for the global animal genetics market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>.

Global Animal Genetics Market Assessment, Opportunities and Forecast, 2017-2031F

The global animal genetics market is expected to experience growth due to increasing product innovations, supportive government initiatives, rising demand for animal-derived protein, and expanding educational efforts on animal genetic testing.

FAQs

Industry Reports

Blogs

Case Studies

Industry News

Press Release

Infographics