Rising demand for animal protein-based products and changing food preferences of people to drive global animal genetics market
According to TechSci Research report, “Global Animal Genetics Market By Animal Type (Poultry, Porcine, Piscine, Bovine, Canine, Others (Goat, Sheep, Horse)), By Genetic Materials (Embryo, Semen), By Services (DNA Typing, Genetic Trait Tests, Genetic Disease Tests, Others), By Region, Forecast & Opportunities, 2025”, the global market for animal genetics is anticipated to witness substantial growth during the forecast period. Animal genetics or veterinary genetics is the study of genes, gene expression and various breeding habits of animals. Due to the change in food preferences of people, demand for animal protein-based supplements has increased over the last few years, which has led to significant growth in the market. Skewed attention in the favor of identification of superior and healthier breeds by adopting advanced genetic approaches like embryo transfer and artificial insemination in order to achieve better reproduction is bolstering the market growth. Also, the motive of mass production of quality breeds to obtain animal protein-based products involves extensive usage of genetic engineering, thereby fueling the market growth. The market for animal genetics is gaining traction also due to increasing population and robust urbanization and rising living standards. However, scarcity of competent professionals in the field of veterinary research and strict rules and regulations imposed by the government regarding genetic experiments on animals are likely to hinder the market growth.
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Global animal genetics market is segmented based on animal type, genetic materials, services, company, and region. The animal type segment is further divided into poultry, porcine, piscine, bovine, canine and others which include goat, sheep and horse. Porcine was the dominating segment in the year 2019 as pork meat and its products have gained popularity among meat consumers. Porcine are low maintenance animals and need limited land for breeding, which is a major factor for their dominance in the market. However, poultry segment is the fastest growing segment owing to the low chances of food-related diseases and pocket friendliness. Additionally, to reduce environmental disbalance, governments have been making efforts to shift people from red meat to white meat. This shift has led to more consumption of white meat that is obtained from poultry, thereby fueling the segment growth during the forecast period. Based on services, the market is segmented into DNA typing, genetic trait tests, genetic disease tests, and others. Out of these, genetic disease tests segment is expected to lead the market through 2025 owing to increased adoption of these tests by farmers to avoid the loss of livestock productivity. The dominance of the segment can also be attributed to the prevailing trend of pet ownership, mainly in the developed countries.
In terms of regional analysis, North America accounted for the largest share of global animal genetics market in the year 2019 and the trend is expected to continue in the coming years as well. The research organizations in the region carry out extensive research on animal genetics, which is a major factor responsible for the dominance of the region in the market. North America was followed by Europe, which registered lucrative growth on account of high percentage of pet owners in the region. European Pet Food Industry Federation stated that more than 75 million households owned a pet in the year 2017. However, Asia-Pacific region is expected to grow at the fastest pace during the forecast period. The growth can be attributed to the rising veterinary care services in hospitals as well as in centers at community level. In conjunction to this, rising demand for dairy products can also be held responsible for the high CAGR of the region.
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Some of the leading players in global animal genetics market include Genus Plc, Topigs Norsvin, Envigo Corporation, CRV Holding B.V, Hendrix Genetics BV, Grimaud La Corbiere SA, Neogen Corporation, Alta Genetics Inc., Zoetis, Inc, Animal Genetics, Inc., VetGen Healthcare Private Limited, EW Nutrition GmbH, Trans Ova Genetics, etc. Acquisitions and mergers are some of the strategies adopted by the leading players to hold their position in the market. For instance, in the year 2017, Groupe Grimaud La Corbiere SA sold its broiler genetics division, Hubbard, to the Aviagen Group. Both the groups benefitted from the merger, as the combined skillset and expertise resulted in enhanced output along with producing lucrative results. The merger also paved the way for Aviagen Group to expand its product portfolio. The next year, Neogen Corporation acquired Livestock Genetic Services, which is a firm focused on genetic evaluations for cattle breeding, which helped Neogen Corporation to expand its capabilities of genetic evaluation.
“Global animal genetics market is anticipated to witness significant growth during the next five years as technology has enabled various complex procedure to be carried out easily. Governments all over the world are taking actions to promote animal genetics keeping in mind the health of animals and to improve their breeding habits. For instance, in May 2019, Australian government lifted the ban from the use of CRISPR technology for gene editing of animal and plants. This move is expected to fuel the growth of the animal genetics market as the technology promises cancer curing remedies and promotes fast breeding in animals.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Animal Genetics Market By Animal Type (Poultry, Porcine, Piscine, Bovine, Canine, Others (Goat, Sheep, Horse)), By Genetic Materials (Embryo, Semen), By Services (DNA Typing, Genetic Trait Tests, Genetic Disease Tests, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global animal genetics market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global animal genetics market.
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