The Animal Genetics Market was valued at US$ 4,778.67 million in 2019 and is projected to reach US$ 7,705.23 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.
The branch of genetics that deals with the study of gene variation and inheritance in companion, domestic and wild animals is called as animal genetics. Animal genetics are used for genetic trait testing, DNA testing, and genetic disease treatment. Animal genetics is one of the best mainstays of livestock development (alongside animal nutrition, animal health, and husbandry concerns such as housing). According to the Food and Agriculture Organization of the United Nations, it is a wide field, ranging from characterization to maintenance to genetic improvement, and involves activities at local, national, regional, and global scales.
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Key Market Competitors: Global Animal Genetics Market
NEOGEN Corporation, HENDRIX GENETICS BV, Zoetis Inc., Genus, TOPIGS NORSVIN, Envigo, VetGen, ANIMAL GENETICS INC., ALTA GENETICS INC., and Groupe Grimaud are among the leading companies operating in the animal genetics market.
Based on product, the market is segmented into poultry, porcine, bovine, canine, and others. In 2019, the porcine segment accounted for the highest share of the market. Growth of this segment is attributed to rise in production of porcine and increase in pork consumption across the globe. The same segment is likely to register highest CAGR in the global animal genetics market during the forecast period.
Increase population and rapid urbanization across the world have resulted in growing preference for animal-derived food products, such as dairy products and meat, which contain high protein. According to the study published by Meat and Livestock Australia in 2015, genetically modified cows can produce more milk and are less susceptible to various common cattle diseases, such as bovine respiratory disease complex and clostridia disease, which has benefited the cattle farmers in overall aspects.
Reasons to Purchase this Report:
- Current and future of Animal Genetics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
To comprehend Global Animal Genetics market dynamics in the world mainly, the worldwide Animal Genetics market is analyzed across major global regions.
- North America: United States, Canada, and Mexico.
- South & Central America: Argentina, Chile, and Brazil.
- Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.
- Europe: UK, France, Italy, Germany, Spain, and Russia.
- Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia.
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