Animal Genetics Market size is expected to cross USD 43.4 Billion by the end of 2036, growing at a CAGR of 17 % during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of animal genetics was over USD 6.6 Billion. The surge in worldwide demand for animal-based protein products, including meat, milk, and eggs, has created an increased need for the development of genetically superior livestock breeds and aquaculture species. The FAO estimates that 136 million tonnes of poultry will be consumed globally in 2022. This is primarily due to the ever-increasing consumption of these products, which has put a strain on the available resources and necessitated the need for more efficient and productive methods of production. By utilizing advanced genetic technologies and breeding programs, the agricultural industry can meet the demand for animal protein products while also ensuring the sustainability and welfare of the animals involved.
In light of this, the market is predicted to witness growth during the projection period. Additionally, the market is estimated to account for growth owing to the rising funding for animal genetics research, growing implementation of animal welfare, and advancements in genetic technologies.
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~ 17% |
Base Year Market Size (2023) |
~ USD 6.6 Billion |
Forecast Year Market Size (2036) |
~ USD 43.4 Billion |
Regional Scope |
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Growth Drivers
Challenges
Genetic Material (Embryo, Semen)
The embryo segment in the animal genetics market is anticipated to hold the largest segment over the forecast period, accounting for 58%. Mostly utilized on cattle, sheep, goats, and pigs, embryo transfer technology is also utilized to a lesser degree on buffaloes and camels. In recent years, there has been a notable increase in the transfer of bovine embryos. Recently, seed stock and beef producers have shown a significant increase in popularity for embryo transfer in the bovine business. It has benefited from advances in genetics, ultrasonography, and IVF. Embryo transfer programs are used by producers to expand the flock size of genetically superior animals.
Product & Service (Animal Type, Genetic Material, Service Type)
Animal genetics market from the animal type segment is expected to witness a significant revenue share by 2036. The consumption of animal protein has experienced a noticeable uptick in recent times. This trend is expected to continue over the forecast period, owing to various factors such as governmental initiatives aimed at mitigating environmental impact and increasing global awareness. As a result, the demand for animal protein is expected to grow significantly, leading to market growth in this segment.
Our in-depth analysis of the global market includes the following segments:
Genetic Material |
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Product & Service |
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Animal Type |
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Testing Type |
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North American Market Forecast
North America animal genetics market is anticipated to account for 36% of the revenue share during the forecast period. This is mainly due to the high prevalence of genetic disorders among animals and the presence of key market players in the region. The market is expected to witness significant growth owing to extensive research & development activities aimed at improving breeding practices. This, in turn, will lead to the production of healthier animals that can effectively utilize nutrients for growth and reproduction purposes. Overall, the market outlook is quite promising, with several exciting opportunities likely to emerge in the foreseeable future.
APAC Market Statistics
Asia Pacific animal genetics market is expected to hold a significant revenue share. This can be attributed to the growing awareness of animal health among the general populace in the region. Additionally, the region boasts a significant animal population base, which is expected to further drive growth in the market. As a result, there has been a noticeable increase in spending on animal healthcare in the region, which is expected to contribute significantly to the market's growth in the coming years.
Author Credits: Radhika Gupta, Shivam Bhutani
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