As per our research report, the global animal genetics market size is forecasted to grow at a CAGR of 8.48% from 2022 to 2027 and was valued at USD 5.1 billion in 2022.
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One of the key factors contributing to the increase in genetic testing of animals is the increasing global demand for high-quality animal products. In addition, the poultry sector is steadily growing during the forecast period due to rising global demand for poultry meat and eggs, the rapid growth of the poultry industry due to population growth and urbanization, and increased funding for animal genetic research.
Rapid advances in animal genetics, strong adoption of artificial insemination techniques, and an increased need to increase livestock to meet the increasing demand for animal protein are projected to drive the growth of the global animal genetics market during the forecast period. In addition, increased funding for animal genetics research, increased investment in R&D activities, and focused efforts to produce healthier foods and animal products are expected to drive the global animal genetics market.
The overall population growth and urbanization in developing countries such as China, India, and Brazil are other key factors promoting the demand for animal products. The economies of these countries are heavily dependent on agriculture and livestock and accommodate the largest population. To maintain inventory and productivity, it is essential to introduce technologies such as artificial insemination, genetic disease testing, and genotyping in these countries. Governments in developing countries such as India and China are funding to improve livestock productivity.
Improving the productivity parameters of such animal species while maintaining their genetic predominance in secondary traits is one of the key challenges facing the animal genetics industry today. Animals with poor economic performance require special breeding programs to improve their economic performance with high milk and meat performance. These animals are becoming less and less important in livestock farming as farmers have shown no interest in breeding them due to their poor economic performance. For this reason, there is now an increasing need to identify logical breeding goals and strategies for achieving higher economic performance in such species. Per capita meat consumption is partially offset by a shift to demand quality products. This includes switching to lab-based or cultured meat. Potential to reduce demand for animal proteins by changing consumer tastes and attitudes towards meat consumption about health, environment, animal welfare, and impacts on global greenhouse gas (GHG) emissions. This can have a long-term adverse effect on the demand for animal protein, resulting in an impediment to the adoption of animal genetics.
Intending to contain the outbreak of COVID19, the government has introduced transport and travel restrictions in many countries, which has led to obstacles to international trade and transportation. This disrupted the animal genetic product supply chain and temporarily adversely affected product demand. Limited access to current and potential customers impacts market players’ ability to sell new animal genetic products and implement previously sold products, resulting in a modest growth rate in 2020. It is lowered too. However, supply chain disruptions are expected to be minimized in 2021, and the market is expected to grow at a higher growth rate over the forecast period.
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KEY MARKET INSIGHTS:
- Based on the product type, the segment of live animals registered the largest share in the global animal genetics market in 2021. The large share of this segment is due to the high demand for poultry and eggs in developed countries and the increased demand for poultry and eggs in developing countries due to population growth and rapid urbanization in these regions. In addition, changes in diet and increased disposable income have also contributed to the shift towards increased consumption of animal protein.
- Based on the genetic material, the highest share of semen was due primarily to bovine semen, which had the highest percentage of animal semen during the forecast period. The growth of this market is mainly driven by the growing need to raise highly productive animals to meet the increasing demand for meat and other animal products.
- Based on the genetic testing services, genetic disease testing contributed the largest share. Growth in this segment is driven by the growing need to increase livestock productivity and prevent the development of genetic diseases. In addition, genetic disorders cost breeders enormous amounts of money in the form of loss of business. As a result, breeders employ genetic testing services to prevent the spread of such diseases.
- Geographically, North America dominates the market for animal genetics globally with significant companies and increasing demand for animal proteins. In addition, the growing acceptance of advanced techniques in animal genetics and the recognized livestock sector will drive market growth in the region. On the other hand, the Asia Pacific is expected to grow during the forecast period, increasing animal care facilities at veterinary clinics and community centers in the region. At the same time, increasing demand for effective testing and other hereditary facilities for testing genetic diseases in animals boosts the market growth in the region.
- Given the region’s influential position in the food industry, innovation is an essential strategy for survival in highly competitive situations, and demand for high-quality cattle is increasing. Because of these aspects, the Asia Pacific region is considered the Goldilocks region for investment and geographic expansion. Meanwhile, animal health ecosystems are on the path of continuous improvement, opening up opportunities for players in the animal genetics market to develop effective animal experiment practices.
- The major players in the global animal genetics market are Neogen Corporation (USA), Genus (UK), URUS (USA), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands).), Zoetis (USA), Envigo (USA), Hendix Genetics (Netherlands), Animal Genetics (USA).
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RECENT MARKET DEVELOPMENTS:
- In Jan 2021, Genus ABS and the Bair Ranch worked together to use gender-distorted semen and terminal genetics to demonstrate the effectiveness of the bovine calf management system.
- In Feb 2020, Neogen partnered with Gencove, a genetic testing company, to develop Neogen’s next generation of animal genomic tests.
SEGMENTS COVERED UNDER THIS REPORT:
By Animal Genetic Product:
- Live Animals
- Other Animals
- Genetic Material
- Bovine semen
- Porcine semen
- Canine semen
- Equine semen
- other animals
- Bovine embryo
- Equine embryo
- Other animals
By Testing Service:
- DNA Typing
- Genetic Trait Tests
- Genetic Disease Tests
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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