Animal Genetic Market Growth: Industry Growth and Forecast

Animal Genetic Market Size was estimated at USD 7 billion in 2022 and is poised to reach at 12.2 billion in 2030 anticipated to expand at a compound annual growth rate CAGR of 7.3% for the forecast period of 2023-2030.

The Animal Genetic Market Report provides a comprehensive analysis of the global Animal Genetic market, highlighting key trends, growth drivers, challenges, and opportunities. The report aims to assist industry stakeholders in making informed decisions and formulating effective strategies.

The animal genetic market is a rapidly growing industry that focuses on the genetic improvement of animals through selective breeding and advanced biotechnological techniques. This market encompasses various sectors, including livestock, aquaculture, and companion animals.

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One of the key drivers behind the growth of the animal genetic market is the increasing global demand for high-quality animal products. As the world population continues to rise, there is a greater need for efficient and sustainable methods of producing meat, milk, eggs, and other animal-derived products. Genetic advancements allow for the development of animals with improved traits such as higher productivity, disease resistance, and better feed conversion rates.

Livestock genetics play a crucial role in meeting this demand. Farmers are increasingly turning to genetically superior breeds that exhibit desirable traits like faster growth rates, increased muscle mass, and improved milk production. These advancements not only enhance productivity but also contribute to reducing environmental impact by minimizing resource consumption.

KEY MARKET SEGMENTS

By Live Animals

·         Porcine

·         Bovine

·         Poultry

·         Canine

·         Others

By Genetic Material

·         Embryo

·         Semen

By Services

·         Genetic Trait Test

·         Genetic Diseases Test

·         DNA Typing

Major Players Listed in the Report are as Follows:

Genus Plc, Envigo Corporation, Topigs Norsvin, CRV Holding B.V, Groupe Grimaud La Corbiere SA, Hendrix Genetics BV, Neogen Corporation, Zoetis, Inc; URUS and Animal Genetics, Inc. and others.

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