DELRAY BEACH, Fla., Dec. 5, 2024 /PRNewswire/ -- The global animal genetics market in terms of revenue was estimated to be worth USD 2.97 billion in 2024 and is poised to reach USD 4.19 billion in 2029, growing at a CAGR of 7.1% during the forecast period. Various factors responsible for the market growth are demand for quality genetic materials from animal farms, breeding farms, and the animal food industry and the rising demand for genetic materials to produce animals of superior breeds that are high-yield and disease-resistant. Some of the key drivers in the rising acceptance of genetic materials are growing demand for animal-based food products, such as dairy and meat. Moreover, biotechnology is likely to boost growth in the market through application and advances in technology for the transfer of genetic material. However, some limitations are also expected as strict government regulations on both genetically modified animals as well as food products place some extent of restraint on the growth of the market for animal genetic materials in EU nations.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12462093
Browse in-depth TOC on "Animal Genetics Market"
370 - Tables
63 - Figures
360 - Pages
In this report, the animal genetics market is segmented into animal type, products & services, technology, end user and region.
Based on animal type, the animal genetics market is segmented into five major categories such as poultry, porcine, bovine, canine and other animals. Amongst these the porcine segment has accounted for the second largest share in the animal genetics market in 2023. Rising focus on improving swine productivity to meet the increasing global need for pork has driven the adoption of advanced genetic selection techniques. The segment has also benefited from the expansion of commercial pig farming and the use of superior breeds that offer better reproductive rates and higher litter sizes. Additionally, the integration of biosecurity measures in pig farming to control diseases has further fueled the demand for genetically enhanced pigs in this segment.
Based on product & service, the animal genetics market is segmented into animal genetic products and animal genetic testing services. In this report, the animal genetic products market is segmented into semen and embryos. The animal genetic testing services market is segmented into genetic trait tests, genetic disease tests, and DNA typing. In 2023, the genetic diseases tests segment accounted for a larger share of the animal genetic testing services market. However, the genetic trait tests segment is expected to register the highest CAGR during the forecast period. This is driven by increasing demand for identifying traits linked to productivity, disease resistance, and adaptability in animals. These tests help optimize breeding programs by ensuring desired traits in offspring. Growing awareness of trait-based genetic selection among livestock farmers further supports this segment's rapid growth.
Based on the technologies, this market is divided into five segments such as PCR, NGS, rDNA, Microarray Technology, and Other Technologies. The other technologies segment is projected to witness the fastest CAGR of 11.3% in the animal genetics market during the forecast period. Advanced technologies like CRISPR-Cas9 and Market Assisted Selection (MAS) have been considered under this segment. These technologies enable precise genetic modifications and targeted trait selection, improving livestock productivity and health. CRISPR-Cas9's ability to edit genes efficiently has revolutionized genetic research, particularly in developing disease-resistant and high-performing animals. MAS enhances breeding accuracy by linking specific genetic markers to desirable traits. Increasing research investments and the growing need for sustainable farming practices further fuel the demand for these cutting-edge technologies.
Based on end users, there are four segments in the animal genetics market, such as Animal Farms, Veterinary Hospitals and Clinics, Diagnostic Centers and Research Institutes. The Animal Farm segment is expected to witness the second-highest CAGR during the forecast period. As farms look to increase efficiency and reduce costs, they are adopting genetic solutions to optimize breeding and health management. The growing focus on sustainable farming practices and the need to meet global food security demands are pushing farmers to invest in advanced genetic technologies. Additionally, government support and subsidies for modernizing farms, alongside the increasing use of genetic data, are contributing to the segment's rapid growth.
Based on region, the global animal genetics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Latin America is expected to experience the second-highest growth rate during the forecast period, with factors influencing market growth including the region's expanding agricultural sector and increasing investments in livestock genetics. Additionally, advancements in breeding techniques, along with government initiatives supporting sustainable agriculture and animal welfare, are encouraging the adoption of animal genetics technologies in the region.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=12462093
The prominent players in the animal genetics market include Neogen Corporation (US), Genus PLC (UK), Genetic Technologies Limited (Australia), Urus (US), Select Sires Inc. (US), Groupe Grimaud (France), CRV Holding (Netherland), Topigs Norsvin (Netherland), Zoetis, Inc. (US), Animal Genetics, Inc. (US). Players in the global animal genetics market have employed various strategies to expand their global footprints and increase their market shares. The key strategies adopted by the major animal genetics market players include product and service launches and approvals, acquisitions, partnerships, agreements, collaborations, and expansions.
GENUS PLC (UK):
Genus PLC is a top company specializing in livestock genetics for improving meat and milk production. It operates through three main divisions: Genus PIC (focused on pigs), Genus ABS (focused on cattle), and a research and development division. The company sells its products in 35 countries and supports over 2,000 customers worldwide. Genus ABS alone works in 20 countries, serving more than 50,000 customers across six continents. Key subsidiaries include ABS Global in the U.S., Genus Breeding India, and Hermitage Genetics in Ireland. In 2024, Genus took full ownership of De Novo Genetics LLC, a U.S.-based dairy genetics company, and teamed up with 605 Sires + Donors, another U.S. company, to offer advanced genetics solutions for beef producers. These efforts reflect Genus' commitment to driving innovation in the livestock genetics industry.
URUS:
URUS, formed in 2018 by merging Koepon Holding BV (Netherlands) and Cooperative Resources International (CRI) (US), is a global leader in cattle genetics and farm management solutions. With ten subsidiaries, including AgSource, Alta Genetics, GENEX, and Trans Ova Genetics, URUS provides services like breeding programs, advanced genetics, dairy management tools, and reproductive technologies such as IVF and cloning. Operating in over 100 countries, it has a strong presence in North America, Europe, Asia Pacific, and Latin America. In 2023, URUS partnered with Genetics Australia to expand GENEX and PEAK products and, in 2024, launched the Africa Dairy Genetics Multiplication Program to improve cattle genetics in Kenya, Tanzania, and Uganda, showcasing its dedication to advancing global livestock.
CRV HOLDINGS (NETHERLANDS):
CRV Holding is a global leader in improving cattle herds, providing advanced solutions for breeding, fertility, and health to boost productivity and animal well-being. Its services include breeding programs, data collection, herd book management, on-farm support, and industry publications to help farmers improve milk and meat quality. CRV operates in countries like Belgium, New Zealand, Germany, South Africa, Brazil, the U.S., and Spain, and exports bovine semen to about 50 countries through a strong distributor network. In 2021, it partnered with Nedap (Netherlands) to globally market Oxalext products, highlighting its focus on innovation and advancing livestock farming worldwide.
For more information, Inquire Now!
Related Reports:
Genotyping Assay Market
Veterinary Vaccines Market
Companion Animal Pharmaceuticals Market
Cattle & Porcine/Swine Reproductive Diseases Market
Pharmaceutical Gelatin Market
Get access to the latest updates on Animal Genetics Companies and Animal Genetics Market Size
About MarketsandMarkets:
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/animal-genetics-market-to-hit-usd-4-19-billion-by-2029-with-7-1-cagr--marketsandmarkets-302323538.html
