According to SPER Market Research, the Animal Genetics Market Analysis key drivers of this growth are an increasing world population and rapid urbanization, rising animal protein and dairy product consumption, rising customer awareness, rising demand for companion animals, increased use of advanced genetic technologies, and genetic services to prevent genetic diseases and business loss.
The factors driving the market’s expansion are an increasing global population, consumption of animal-derived protein, urbanization, superior breeds, and improved adoption of cutting-edge genetic innovations.
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Market Overview (2022-2030)
- Forecast CAGR (2022-2030): 6.8%
- Forecast Market Size (2030): 9.94 Billion
African swine disease breakout in China and further spread, Economic sustainability in local breeds, Shortage of competent experts in veterinary research, and Need for specialized breeding programs for breeds with lower economic performance. Demand is changing in favor of high-quality goods like lab-based or manufactured meat. These consumer choices and attitudes regarding meat consumption and its effects on human health, the environment, and greenhouse gas emissions may result in a decline in the demand for animal protein, one of the market’s difficulties.
Global Animal Genetics Market Insights, Size and Growth Forecast To 2030
Impact of COVID-19 on the Animal Genetics Market:
The COVID-19 pandemic hampered global transportation and trade. As a result, the supply chain is reduced, which causes this market’s growth structure to be negative. Due to the use of cutting-edge technology, the concentration of major market players, effective distribution systems, rising demand for livestock food products, consumption of animal protein, and animal welfare initiatives, Europe had a lion’s share of the global market for animal genetics.
Industry Definition and Major Segments:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
Global Animal Genetics Market, by Product:
- Animal Genetics Products
• Live Animals
• Genetic Materials
- Animal Genetic Testing Services
• Genetic Disease Tests
• Genetic Trait Tests
• DNA Typing
Global Animal Genetics Market, by Region:
- North America
This research also includes important market drivers and restraints for the forecast period. The study also covers several developments potential.
Key Market Players:
The global Animal Genetics Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Neogen Corporation, Genus, URUS, EW Group, Groupe Grimaud, CRV Holding, Topigs Norsvin, Zoetis, Envigo, Hendix Genetics. Some other players in the market include VetGen, DanBred, Tropical Bovine Genetics, Trans Ova Genetics, Inguran LLC dba ST Genetics, Semex Alliance, Genetic Veterinary Sciences, Cobb-Vantress, Milk Source, Eurogene AI Services.
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