New York , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global animal genetics market size is poised to grow at a CAGR of over 17% from 2024 to 2036. The market is anticipated to garner a revenue of USD 43.4 billion by the end of 2036, up from a revenue of USD 6.6 billion in the year 2023. The growth of the market trend is attributed to the growing usage of animal products including milk, eggs, meat, and fur for various human needs has raised the demand for superior-quality livestock. According to statistical calculations, over 300 million tons of meat is consumed every year across the globe
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Furthermore, the rising consumption of animal products among people for protein intake owing to increasing health concerns is predicted to propel the market growth. Over 40% of protein intake is estimated to come from poultry meat in 2032 as per the Organization for Economic Cooperation and Development.
Animal Genetics Indu: Key Takeaways
- Market in North America region to propel the highest growth.
- The Embryo segment to garner the highest growth
- Market in Asia Pacific region to grow at the highest rate
Implementation of Precision Farming in Livestock Production is Protruding to Shoot Up the Growth of the Market
The enhancing application of sensor technology in integration with physiological data to improve the reproductive ability of cows is intended to drive market growth. As per a study done between 2016 and 2021, the performance of the RumiWatch sensor resulted in a perfectly accurate count related to prehension bites, rumination chews, and eating chews with a concordance correlation coefficient of > 0.96, >0.96, and >0.95 respectively. Also, in 2021 research on the application of infrared thermography in sheep to diagnose lameness showed a specificity of 80%.
Animal Genetics Industry: Regional Overview
The global animal genetics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Escalating Prevalence of Genetic Diseases in Animals is Protruding to Raise the Market Growth in the North America Region
The market in the North America region is projected to hold a share of approximately 36% in the year 2036. The research and development of animal genetics to improve the breed characteristics is reckoned to drive the growth of the market in the region. Each year the National Institute of Food and Agriculture (NIFA) provides AFRI (Agriculture and Food Research Initiative) with USD 700 Million and the Consolidated Appropriations Act of 2023 provides AFRI with funds of USD 455 Million as per the United States Department of Agriculture. The market growth is attributed to the increasing number of meat eaters. According to the reports, each day an American consumes about 350 grams of meat as of 2023. The expanding livestock producers who require high-quality breeds are determined to boost the market size.
Growing Animal Population and Awareness of Animal Health are predicted to Propel the Market Expansion in the Asia Pacific
Asia Pacific region is projected to garner notable revenue by the end of 2036 on account of people's interest in owning pet animals in the region. The rise of government policies and involvement in animal care and animal health is boosting the market trend. In 2022, the National Livestock Mission released a grant amount of USD 133,514 to ICAR (Indian Council of Agricultural Research)-National Research Center on Equines for the collection and cryopreservation of embryos of the Marwari horse breed. The incidence of diseases in livestock and pet animals and their interference with animal genetics is anticipated to propel the market growth. In 2023, as per the report of the Food and Agriculture Organization of the United Nations, avian influenza in Jharkhand, India killed nearly 300 farm chickens
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Animal Genetics Industry Segmentation by Genetic Material
- Embryo
- Semen
The embryo segment of the animal genetics market is predicted to hold a significant market share of 58 % during the forecast period. The multiplying implementation of embryo transfer methods across the world to generate desirable offspring. The demand for high-performing animals in terms of reproduction in the breeding class and the need for good meat quality and quantity in poultry breed animals is intended to sprout the market segment growth. In May 2023, in India, the first Marwari horse was successfully produced from the blastocyst stage embryo transfer technology by Bikaner Scientists at the Equine Production Campus of ICAR-NRCE, Rajasthan.
Animal Genetics Industry Segmentation by Product & Service
- Animal Type
- Genetic Material
- Service Type
In the given forecast period, animal type is projected to hold a sustainable market share of 38%. The market segment growth is attributed to the flourishing population globally and the soaring change in the eating habits of people. The amplifying income of developing countries with urbanization is foreseen to develop the market segment growth in the coming years. The requirement for eggs, meat, milk, and other dairy products is multiplying with time which is likely to add to the market segment trend. As per the U.S. Department of Agriculture, production of broilers increased to 0.93% between 2022 to 2023 in the U.S. Approximately 80% of the rise is seen in chicken farming in 2021 with nearly 26 billion chickens reared worldwide.
Animal Genetics Market Segmentation by Product & Service
- Animal Type
- Genetic Material
- Service Type
Animal Genetics Market Segmentation by Testing Type
- DNA Typing
- Genetic Disease Tests
- Genetic Trait Testing
A few of the well-known market leaders in the global animal genetics market that are profiled by Research Nester are Hendrix Genetics BV, Genus plc, Animal Genetics, Inc., TOPIGS NORSVIN, Zoetis Services LLC, GROUPE GRIMAUD LA, ANICAM ENTERPRISES INC, Trans Ova Genetics., GenEra, and others.
Recent Development in the Market
- Hendrix Genetics BV declared the inauguration of the Breeding Multiplication Center (BMC) in Srikakulam District of Andhra Pradesh in India. The BMC produces the same quality shrimp products similar to their Hawaii facility. The BMC is ensured to maintain the same genetics as that of Hawaii broodstock which sustains the status of Specific Pathogen Free (SPF).
- Basepaws entered the venture of canines and introduced the costliest DNA test for dogs. The main aim of the test is to promote animal health by early detection of disease. The test was made easy and quick with a simple swab collection that gives information on more than 280 genetic markers connected to the hereditary disorder of the dogs. The company also uses Illumina Next Generation Sequencing (NGS) technology that includes in-house whole genome sequencing (WGS) technology and provides data on 2.5 billion nucleotide bases.
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