Animal Genetics Market Size, Future: Analyzing Forecasted Outlook and Growth for 2024-2031

United States, New Jersey: According to Verified Market Reports analysis, the global Animal Genetics Market was valued at USD 54.6 billion in 2023 and is expected to reach USD 89.1 billion by the end of 2031 with a CAGR of 7.07% During the Forecast Period 2024-2031.

The Animal Genetics Market involves the study and application of genetic principles in animals to improve traits such as disease resistance, reproductive performance, growth rate, and product quality. It encompasses various techniques, including selective breeding, genetic testing, genomic selection, and gene editing, aimed at enhancing the genetic potential of livestock, companion animals, and other economically important species. Opportunities in this market arise from the increasing demand for animal products, such as meat, milk, and eggs, driven by population growth, rising disposable incomes, and changing dietary preferences. Additionally, advancements in biotechnology, genomics, and reproductive technologies create opportunities for genetic improvement programs that enhance animal welfare, sustainability, and profitability in agriculture and animal husbandry.

However, the Animal Genetics Market faces several challenges, including regulatory constraints, ethical considerations, and public perception concerns related to genetic engineering and manipulation of animals. Balancing the benefits of genetic improvement with animal welfare, biodiversity conservation, and environmental sustainability poses challenges for policymakers, industry stakeholders, and consumers. Moreover, ensuring the safety and efficacy of genetically modified organisms (GMOs) and transgenic animals in food production and ecosystem management requires robust risk assessment, monitoring, and regulatory oversight.

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The Growth Drivers of the Animal Genetics Market include the increasing demand for high-quality and disease-resistant livestock breeds, driven by the need to enhance productivity, efficiency, and sustainability in food production systems. Additionally, the growing adoption of precision livestock farming technologies, such as genomic selection, marker-assisted breeding, and reproductive biotechnologies, drives the demand for genetic services and solutions that optimize breeding outcomes and herd management practices. Furthermore, the expanding applications of animal genetics in biomedical research, conservation biology, and pet breeding contribute to market growth by diversifying revenue streams and expanding the addressable market for genetic services.

Market Dominance:

Among the subsegments of the Animal Genetics Market, genetic testing and diagnostics are currently dominating due to their critical role in assessing the genetic potential and health status of animals for breeding and management purposes. Genetic testing services enable livestock producers, breeders, and veterinarians to identify genetic traits, disease susceptibilities, and parentage information, facilitating informed breeding decisions and disease management strategies. With advancements in genomics, bioinformatics, and high-throughput sequencing technologies, genetic testing services continue to evolve, offering more comprehensive and accurate genetic information to support animal breeding programs and improve livestock productivity. Despite competition from other genetic improvement technologies, genetic testing remains a cornerstone of the animal genetics market due to its versatility, reliability, and value in animal breeding and management.

Top Animal Genetics Market Companies covered in the Research Report:

This section of the report offers a comprehensive analysis of the Animal Genetics market, shedding light on key players that significantly influence market dynamics and shape the competitive landscape. In addition to detailing past initiatives, the report provides forecasts for future ventures. Through thorough financial analyses, exploration of research and development projects, and examination of expansion plans, analysts provide valuable insights into upcoming developments within the industry.

Genus PLC, Hendrix Genetics, EW Group GmbH, Zoetis, CRV Holding, Grimaud, Topigs, Alta Genetics, Neogen Corporation, Envigo

Animal Genetics Market Segments Analysis:

The Animal Genetics market research report employs a meticulous segmentation strategy, offering deep insights into various market segments such as application, type, and region. This approach provides readers with a nuanced understanding of the driving forces and obstacles within each segment, tailored to meet the discerning needs of industry stakeholders. This chapter conducts thorough analyses of regions poised for significant growth, presenting extensive statistics and region-specific data on sales, production, and the presence of key manufacturers.

Animal Genetics Market, By Type

Animal Genetics Products
Animal Genetics Testing Services

Animal Genetics Market, By Application

Poultry
Porcine
Bovine

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Regional analysis covered in the Animal Genetics Market report:

North America (USA and Canada)
Europe (UK, Germany, France and rest of Europe)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East and Africa (GCC and Rest of the Middle East and Africa)

The report offers analysis on the following aspects:

(1) Market Penetration: Comprehensive information on the product portfolios of the top players in the Animal Genetics Market.

(2) Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.

(3) Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.

(4) Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

(5) Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Animal Genetics Market.

𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 (𝐅𝐀𝐐)

1. What are the present scale and future growth prospects of the Animal Genetics Market?
Answer: The Animal Genetics Market was valued at USD 54.6 billion in 2023 and is expected to reach USD 89.1 billion by the end of 2031 with a CAGR of 7.07% During the Forecast Period 2024-2031.

2. What is the current state of the Animal Genetics market?
Answer: As of the latest data, the Intelligent Farming market is experiencing growth, stability, and challenges.

3. Who are the key players in the Animal Genetics market?
Answer: Genus PLC, Hendrix Genetics, EW Group GmbH, Zoetis, CRV Holding, Grimaud, Topigs, Alta Genetics, Neogen Corporation, Envigo are the Prominent players in the Animal Genetics market, known for their notable characteristics and strengths.

4. What factors are driving the growth of the Animal Genetics market?
Answer: The growth of the Animal Genetics market can be attributed to factors such as key drivers technological advancements, increasing demand, and regulatory support.

5. Are there any challenges affecting the Animal Genetics market?
Answer: The Animal Genetics market's challenges include competition, regulatory hurdles, and economic factors.

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