Aquaculture Genomics, Genetics, and Breeding Market Business Opportunities And Regional Outlook 2021

Precision Business Insights published a research report on “Global Aquaculture Genomics, Genetics, and Breeding Market: By Service Type (Genomics, Genetics and Breeding), By Species Type (Salmon, Tilapia, Trout, Shrimp, and Others), and Geography- Global/Region/Country Forecast to 2027", The global aquaculture genomics, genetics and breeding market was valued at US$ 410.2 Mn in the year 2018 and anticipated to grow at considerable CAGR rate over the forecast period 2021-2027.

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Growing Demand for Protein Rich Seafood is Fuelling the Global Aquaculture Genomics, Genetics, and Breeding Market
On the basis of service type, genetics and breeding segment has witnessed the largest market share in the market due to the increasing worldwide population coupled with the extinct of different aquaculture species and growing global demand for seafood. Furthermore, there are a few more factors, which are anticipated to impel the market growth over the forecast time span such as advances in genome sequencing technologies and cost reduction for genome sequencing. The global aquaculture genomics, genetics and breeding market is anticipated to witness considerable CAGR rate during the forecast period owing to the factors such as growing demand for seafood and rising global population. Furthermore, growing consumption of per capita income of seafood and increase in demand for protein rich seafood are factors play important role in the aquaculture genomics, genetics and breeding market growth. But, challenge like FDA approval for genetically engineered salmon is the factor hampering the market growth.

Europe Records the huge Revenue Share in the Global Aquaculture Genomics, Genetics and Breeding Market
Europe witnesses the larger revenue share in the global market along with considerable CAGR rate due to the advancements in genomic sequencing and genetics and breeding and emerging number of several key players in the Norway region. One of the significant factors anticipated driving the Chile aquaculture genomics, genetics and breeding market with considerable CAGR rate over the forecast time span is entry of novel business players in the region by collaborations and strategic acquisitions with the local players to retain their place as well as varied their breeding, genetics division in Chile. For example, Benchmark and Aqua Chile in the 2018 made an announcement that both the industries had a deal for forming combined business enterprise to combine the foremost edge technology in Salmon genomics and genetics.

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Global Aquaculture Genomics, Genetics, and Breeding Market - Competitive Analysis
There are several major players operating in the global aquaculture genomics, genetics and breeding market such as Hendrix Genetics, AquaBounty Technologies, Inc., Benchmark Genetics, (A Benchmark Holdings Plc. Company), Aquimer, Nofima and 4C’s Breeding Technologies Inc. Global Aquaculture Genomics, Genetics, and Breeding Market is rising due to the expansion made through strategic acquisitions and ultimate agreements to retain their place in the marketplace. Hawali shrimp breed companies are the most important exporters, which value more than 50% of the farmed shrimp production.

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