Global Animal Genetics Market Trends
The global animal genetics market is expected to grow at a CAGR of 4.5% and reach a market size of USD 9.12 Billion by 2027 as per the new research report published by Confianza Market Research & Consultancy.
With the growing world population and increasing demand for animal proteins, the global animal genetics market is expected to flourish over the upcoming years. Increasing animal health awareness and heavy investments in animal genetics experiments are expected to be the prime growth drivers for the animal genetics market. With the growing demand for animal products, companies have started to invest strategically to develop healthy breeds naturally and eliminate their hereditary disorders. This will not only benefit the human race with good quality of products but would also provide alpha males with better qualities to be used to reproduce a new generation.
One of the major drivers to propel the growth of this market is the advent of technology, in recent times the technological growth has opened a number of doors for better research and development facilities. This is assisting us with better options to study and diagnose the limitations of animal genetics and finding a full-proof solution for it. For example, embryo implant and transfer and artificial insemination have proved that what we can do by shaking hands with technology. All these technological developments in animal genetics have encouraged companies around the globe to have adequate research and development facilities which would provide better animal products for human consumption and preserve the genetics of animals for their welfare.
North America is the largest meat consumer country in the world, has promoted largely in investing in animal genetics, and are the largest contributor to this market. This region has one of the top animal genetics companies around the globe. The NA region is closely followed by European region which has an increasing demand for white meat and therefore relies majorly on animal testing and other related services.
Due to heavy investments, stringent government regulations, and technical knowledge requirements, the global animal genetics market is a low competitive market and only a few players globally have invested in this market. Key companies operating include Neogen Corporation; Genus Plc, Groupe URUS; Topigs Norsvin, Grimaud La Corbiere SA; and others.
View detailed analysis & download sample report here: Animal Genetics Market Size, Share, & Trends Analysis Report 2020 – 2027
- Animal Genetics Market, Animal Type Insights (Revenue, USD Million, 2017-2027)
- Animal Genetics Market, Materials Insights (Revenue, USD Million, 2017-2027)
- Animal Genetics Market, Service Type Insights (Revenue, USD Million, 2017-2027)
- Genetic Trait Test
- Genetic Diseases Test
- DNA Typing
- Animal Genetics Market, Regional Insights (Revenue, USD Million, 2017 – 2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America