Global Animal Genetics Market Analysis, 2021

Market Overview

According to the publisher’ research report, “Global Animal Genetics Market Analysis, 2021,” the market is likely to grow at a CAGR of 6.4% in the forecast period of 2021-26 due to the surging advancements in continuous genetic alteration practices resulting in the growing production of animals with modified breeds and massive investments by numerous end-user industries. Animal producers are gaining huge milk & meat production by leveraging the technology of animal genetic alterations. With the help of strategic breeding, farmers can yield more substantial gains, which shall expand the end-user base and the overall market growth.

Impact of COVID-19

The COVID-19 pandemic brought a wide range of the most comprehensive challenges for various end-users and producers of the industry across the globe. The pandemic negatively impacted the market of several developing countries due to the restrictions on imports and trade while there was an imposition of lockdown globally. The trade disruptions brought significant deficiencies in dairy & meat supplies, leading to price hikes. However, with the gradual upliftment of restrictions by governments globally, the market is reviving and shall regain its usual pace in the forthcoming years.

Market Segmentation

Poultry Segment Registers the Fastest Market Growth

Based on the Animal Type, the Poultry segment registers for the fastest market growth. It accounted for higher than USD 1.4 billion in recent years and is likely to continue the pace. The prominent factors for the market growth are the rise in the requirement for better quality food products, like meat, eggs & milk, and the flooding population & urbanization across regions. Hence, it shall continue to propel the demand and attain the fastest market growth in the forecast period.

Canine Likely to Attain the Largest Market Share

Based on the Animal Type, the Canine segment in the animal genetics market shall attain the largest market share in the forecast years. It owes to the rapidly increasing research for high-quality breeding among dogs. Furthermore, the genetic research on canines is expanding the discovery of diverse genes implicating in the size, personality traits, and fur color. These factors are leading to the exponential demand for animal genetics to enhance the overall market share., states the author in their research report, “Global Animal Genetics Market Analysis, 2021.”

Regional Landscape

The Asia Pacific likely to Witness Rapid Growth in Investments

Various microeconomic and macroeconomic characters are burgeoning exponential extensions for the APAC market. Factors like high population density and urban sprawl are enduring the demands of food producers to satisfy nutritional needs by increasing livestock production. Moreover, the animal healthcare ecosystem has been on a constant development path and is creating several opportunities for market leaders to bring effective testing procedures.

Market Driver

The Global Animal Genetics Market has a vast opportunity due to the constant launches and developments of new products and strategies. Various companies adopt these practices to extend their brand and product globally in the animal genetics industry.

With the swiftly surging population, their main objective is to meet the growing demands of different people. Moreover, producers operating in the market adopted different approaches of product innovation to cater to the rapidly changing customer demands.

Competitive Landscape

According to the publishers, the major leading players in the Global Animal Genetics Market are Animal Genetics Inc., AquaGen AS, Aviagen Group, Coöperatie Koninklijke CRV u.a., Genetic Veterinary Sciences Inc., Genus Plc, Hendrix Genetics BV, Neogen Corp., Topigs Norsvin, Zoetis Inc.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Animal Genetics Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Animal Genetics Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Animal Genetics Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Animal Genetics Market study?