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
Buy Now Report ID: 4390 | Published Date: Feb 13, 2023
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.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 5407.00 Million |
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Forecast Year Market Size (2033) |
~ USD 10067.00 Million |
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Regional Scope |
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Growth Drivers
Growing Prevalence of Animal Infectious Diseases- Based 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 Globally- As 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
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.
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.
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.
Our in-depth analysis of the global animal genetics market includes the following segments:
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By Animal Type |
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By Genetic Material |
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By Genetic Testing |
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Hendrix Genetics BV
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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Growing prevalence of animal infectious diseases and increasing demand for animal protein are estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023 – 2033.
Ans: The higher cost associated with the specialized breeding programs is estimated to challenge the market growth.
Ans: The market in North America, with the current highest market of 36.26%, is projected to keep holding the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Genus plc, Animal Genetics Inc., Crv Holding B.V., Vetgen LLC, Neogen Corporation, Topigs Norsvin, Zoetis Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by animal type, genetic material, genetic testing, and by region.
Ans: The porcine segment, with the current highest market share of 31.15%, is anticipated to keep holding the largest market size by the end of 2033 and display significant growth opportunities.
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