Animal Genetic Market – Global Industry Analysis and Forecast (2023-2029)

Animal Genetic Market was valued at US$ 263.53 Bn in 2022 and is expected to reach US$ 426.79  Bn by 2029, at a CAGR of 7.13 % during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

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Animal Genetic Market Dynamics:
Growth of economy in countries, such as the Asia Pacific and Latin America have increased affordability in urban middle-class population, enhance the per-capita meat consumption, which drives the demand for more efficient livestock production. Furthermore, the rise in awareness about the importance of healthy livestock, feed additives, and other materials of companion animals along with growing pet ownership are the key factors that are projected to provide opportunities to animal breeders in developing markets during the forecast period.

Huge demand for animal products and improved focus toward genetic management of diseases in animals are projected to drive the market for animal genetic during the forecast period. Globalization and climate change resulted in the outbreak of animal diseases; some are communicable to humans. According to International Federation for Animal Health (IFAH), an increase in global temperature leads to the arrival of new diseases and helps other diseases to resurface. The increasing occurrence of diseases among animals fuels the demand for genetically improved or genetically enhanced breed, which is predicted to drive the demand for the animal genetics market.

On the other hand, the government has increased the investment in advanced technologies to increase the demand for the animal genetic market during the forecast period but it restricts the market owing to unpredictable changes in raw materials.
Animal Genetic Market Segment Analysis:
On the basis of material type, the semen segment is projected to grow at the fastest CAGR (xx %) of the market during the forecast period. This can be credited to the growing acceptance of artificial insemination (AI) and semen sexing in the refinement of cattle, pigs, sheep, goats, etc. These factors lead to an increase in the demand for the market during the forecast period.
Regional Analysis:
In the Geographical area, North America is anticipated to lead the market during the forecast period. This is credited to the existence of a large number of leading players in the market in these regions, along with the high acceptance of the latest technologies in animal genetics. Moreover, the conventional livestock sector and the rising demand for animal protein is anticipated to drive the North American  market.

The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on the market in the forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global market.

The report also helps in understanding Global Market dynamics, structure by analyzing the market segments and projects the Global Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Market make the report investor’s guide.
Animal Genetic Market, Key Highlights:
Global Animal Genetic Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Animal Genetic Market

Global Animal Genetic Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global Animal Genetic Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Animal Genetic Market are also profiled.
Animal Genetic Market Scope: Inquire before buying



Animal Genetic Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 263.53 Bn.


Forecast Period 2023 to 2029 CAGR:
7.13 %
Market Size in 2029:
US $ 426.79 Bn.


 Segments Covered:
by Product
Live Animal
Bovine
Porcine
Poultry
Canine
Piscine
Other
Genetic Material
Semen
Embryo
Other
Genetic Testing


by Animals
Poultry
Porcine
Canine
Other Animals


by End-user
Veterinary Hospitals & Clinics
Research Centers & Institutes
Others



Animal Genetic Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1. Neogen Corporation
2. Genus
3. URUS
4. EW Group
5. Groupe Grimaud
6. CRV Holding
7. Topigs Norsvin
8. Zoetis
9. Envigo
10. Hendrix Genetics
11. Animal Genetics
12. vetGen
13. Genus PLC
14. Zoetis, Inc.
15. Alta Genetics, Inc.
16. Animal Genetics Inc.
17. Coöperatie Koninklijke CRV u.a.
18. Groupe Grimaud
19. Aviagen Group
20. Genetic Veterinary Sciences Inc.
Frequently Asked Questions:
1. Which region has the largest share in Global Animal Genetic Market?
Ans: North America region holds the highest share in 2022.

2. What is the growth rate of Global Animal Genetic Market?
Ans: The Global Animal Genetic Market is growing at a CAGR of 7.13% during forecasting period 2023-2029.

3. What is scope of the Global Animal Genetic market report?
Ans: Global Animal Genetic Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Animal Genetic market?
Ans: The important key players in the Global Animal Genetic Market are – Neogen Corporation, Genus, URUS, EW Group, Groupe Grimaud, CRV Holding, Topigs Norsvin, Zoetis, Envigo, Hendrix Genetics, Animal Genetics,

5. What is the study period of this market?
Ans: The Global Animal Genetic Market is studied from 2022 to 2029.