The Animal Genetics Market is valued at around USD 4.9 billion in 2022 and is expected to reach USD 9.1 billion by 2030, registering a CAGR of 6.7% over the forecast period. This includes enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, competitive analysis, operator case studies, opportunities, future trends, value chains, ecosystem player profiles, and strategies included. The report also presents a SWOT analysis and forecast for Animal Genetics investments from 2024 to 2033.
The field of animal genetics has changed as a result of technological advancements in genetic engineering. In companion, wild, agricultural, and research animals, animal genetics is crucial. Genetic engineering has produced novel varieties of companion animals that offer distinctive pet experiences, such the glowing GloFish and hypoallergenic cats.
Genetic modification holds promise for increasing yield, enhancing food quality, and producing livestock that is immune to disease. This aids in addressing environmental problems like pollution from agriculture.
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Top Companies in the Animal Genetics Market:
· CRV Holding
· Genus PLC
· Hendrix Genetics BV
· Neogen Corporation
· Topigs Norsvin Holding BV
· URUS, Vetgen
· and Zoetis Services LLC
· among others.
Global Animal Genetics Market Segments:
Live Animals- Bovine, Porcine, Poultry, Canine, Piscine, Other.
• Genetic Material- Semen, Embryo, Other
• Genetic Testing
Animal Genetics Market Dynamics:
Driver: Growing global population and rapid urbanization:
According to the UN Food and Agriculture Organization, farmers must produce 70% more food globally in order to feed a population that is predicted to reach 9.6 billion people by the year 2050. The majority of this development is anticipated to occur in developing nations. Rapid population increase is anticipated to be one of the main obstacles to improving food security in some nations, even if it is predicted that worldwide population growth will plateau throughout the current century.
Moreover, growing worries about food security are a result of developing nations' fast urbanization. About 55% of people on the planet resided in cities as of September 2021, according to data from the UN Department of Economic and Social Affairs. By 2050, this percentage is anticipated to rise to 73% as urbanization is predicted to remain a major global trend. Since a significant portion of the population is transitioning from an agrarian to an urban lifestyle, it is anticipated that the consumption of animal products would rise as a result of this trend. In developing nations like Brazil, Russia, India, and China, where the demand for animal food products is being driven by increased urbanization, this tendency is clearly visible.
Regional Analysis for Animal Genetics Market
For a comprehensive understanding of market dynamics, the global Animal Genetics market is analysed across key geographies namely North America, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market research findings for the key countries in the region for a macro-level understanding of the market.
Important sections of the TOC
Economic Impact Variables on Animal Genetics Market: Illuminates the consequences of environmental, political and economic fluctuations, and explains changes in customer and consumer requirements. We also provide a detailed report of Animal Genetics on the technology risks and advancements in the global market.
Forecasts based on macro- and micro-economy: ensuring price, revenue and volume EV charging service forecasts for the market. It also includes, in addition to forecasting growth, revenue and import volume for the region, with revenue forecasting for the Animal Genetics application, along with revenue forecasting by cost, revenue and type.
Marketing Strategy Analysis: In this section, Animal Genetics analysis aims at niche positioning and provides information regarding target audience, new strategies and pricing strategies. We provide a comprehensive Animal Genetics marketing station analysis that investigates the problem. Marketing channel development trends, direct marketing as well as indirect marketing.
Business Intelligence: The Animal Genetics companies studied in this section are also assessed by key business, gross margin, price, sales, revenue, product category, applications and specifications, Animal Genetics competitors, and manufacturing base.
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Animal Genetics Market Growth Factors:
Numerous nations have started government initiatives for the genetic enhancement of bovines and other animals in response to the increased demand for genetic material, genetic testing, and animal-derived proteins. Throughout the projection period, a rise in government efforts is anticipated to support market expansion.
Additionally, the government also provided several new technologies to the farmers under this Mission, including sex-sorted semen, IVF technology.
Furthermore, various companies focusing on launching many new genetic tests with more well-calibrated, safe, and efficiency have revolutionized the portfolio of genetic testing, another critical factor attributable to the global market growth.
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The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in the market.
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