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HEALTHCARE & PHARMACEUTICAL

Animal Genetics Market Analysis by Animal Type (Canine, Bovine, Porcine, Poultry, and Others); by Genetic Material (Embryo, Semen, and Others); and by Genetic Testing (Genetic Trait and DNA Typing) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Hendrix Genetics BV to collaborate with the national science agency of Australia, CSIRO. This collaboration has been placed to conduct a study on innovative technology for sex sorting in the egg-laying industry.

  • Genus plc to merge its path with a pioneering agriculture-biotechnology company, Tropic Biosciences. Genus plc collaborated with Tropic to explore and utilize Tropic’s Gene Editing induced Gene Silencing technology. This technology has been proven to be very advantageous for genetic improvement for farmers and for diagnosing animal diseases.

Global Animal Genetics Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 5407.00 Million

Forecast Year Market Size (2033)

~ USD 10067.00 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global animal genetics market is estimated to garner a revenue of ~USD 10067 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 5407.0 Million in the year 2022. The growth of the market can primarily be ascribed to the spiking animal livestock population resulting in the higher requirement for healthcare data worldwide. It is observed that in 2022, the cattle population reached approximately 1000 million head which was an increase from around 900 million head in 2018.

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Global animal genetics market trends such as, skyrocketing penetration of animal genetic companies, a growing number of undernourished populations worldwide, and significant growth in beef consumption are projected to influence the growth of the market positively over the forecast period. For instance, the production of beef and veal was estimated to be around 55 million metric tons in 2022 across the globe. Animal genetics is a vital part of livestock development, it is research on genes and their effects on animals. Animal genetics becomes important to enhance all aspects and for better production of products received from animals such as, eggs, meat, milk, fiber, and others. Hence, all these factors are estimated to propel the growth of the market over the forecast period.

Global Animal Genetics Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Animal Infectious DiseasesBased on the report released by the Centers for Disease Control and Prevention, it was stated that 6 out of 10 infectious diseases are spread from animals to people. Furthermore, nearly 450,000 illnesses are caused by animals annually.To provide a better cure for certain diseases, it is quite helpful to understand the cause. A wide array of diseases is spread by animals such as, hookworms, ringworms, salmonella, parrot fever, Lyme disease, and others. For instance, in 2018, approximately 20,000 confirmed cases of Lyme disease were observed in the United States. Hence, knowing the genetics of animals becomes useful to avoid such serious medical conditions.

  • Rising Consumption and Production of Meat GloballyAs of 2022, the production of meat is estimated in million metric tons for pork (~100), sheep (~15), beef (~70), and poultry (~125).

  • Increment in the Demand for High-Quality Protein Owing to the Rising prevalence of Malnutrition- In 2021, approximately 20% of the population in Sub-Saharan Africa was noticed to be suffering from malnutrition while the figure for Southern Asia remained at around 15%.

  • Higher Inclination Toward Pet Ownership - In 2021-22, almost 65% of the households in the USA were noticed to own a pet summing up to nearly 85 million families.

  • Increasing Demand for Animal Protein-For instance, in 2021, the protein consumption from fish was estimated to be around 150 million metric tons while for beef and veal, it was projected to be around 1.5 million metric tons.

Challenges

  • Availability of Alternatives such as Lab-Based Meat

Ongoing experiments on producing organic meat and rising awareness toward animal lives are estimated to hamper the growth of the market over the forecast period. Furthermore, the consumption of meat can promote food contamination, hence, people are being more disinclined toward the consumption of meat.

  • Higher Cost Associated with the Specialized Breeding Programs 

  • Lack of Skilled Medical Professionals and Equipment

The global animal genetics market is segmented and analyzed for demand and supply by animal type into canine, bovine, porcine, poultry, and others, out of which, the porcine segment has the highest market share of 31.15% in 2022. The growth of the segment can be accounted to the rising number and demand for pigs to obtain pork, hence, the need for animal genetics emerges to avoid any diseases spreading from pigs across the globe. For instance, the number of pigs was highest in China with over 400 million heads while in the United States, the were projected to be nearly 70 million heads in 2022.

Global Animal Genetics Market Regional Synopsis

The North America animal genetics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the surged demand for high-quality breeds and the rising consumption and production of pork. As of 2021, approximately 25,000 million pounds of pork were produced in the U.S., up from almost 24,000 million pounds in 2018.

Market Segmentation

Our in-depth analysis of the global animal genetics market includes the following segments:

        By Animal Type

  • Canine – 3.25%
  • Bovine – 25.32%
  • Porcine – 31.15%
  • Poultry – 27.15%
  • Others – 13.13%

        By Genetic Material

  • Embryo
  • Semen
  • Others

        By Genetic Testing

  • Genetic Trait
  • DNA Typing

Top Featured Companies Dominating the Global Animal Genetics Market

  • Hendrix Genetics BV

  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • Genus plc
  • Animal Genetics Inc.
  • Crv Holding B.V.
  • Vetgen LLC
  • Neogen Corporation
  • Topigs Norsvin
  • Zoetis Inc.
  • GROUPE GRIMAUD LA CORBIERE
  • Royal Agrifirm Group

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