The Animal Genetics Market is a process that aims to evaluate and select genetically superior animals as parents for the next generation of offspring. Through genetic markers, artificial insemination, and embryo transfer, geneticists are able to select animals with desirable traits such as high productivity, disease resistance and adaptability. Genetic evaluations provide information on genetics of livestock animals which help breeders and producers select genetically superior animals to improve production and economy.
The Global Animal Genetics Market is estimated to be valued at US$ 6.6 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Animal Genetics Market are BS Global (US), Groupe Grimaud (France), Zoetis (US), Hendrix Genetics (Netherlands), Topigs Norsvin (Netherlands), CRV Holding (Netherlands), and Neogen (US). The key players are focused on mergers and acquisitions to expand their market presence. For instance, in 2022, Hendrix Genetics acquired Calpis North America's cattle genetics business to expand its North American beef cattle operations.
The rising demand for animal proteins along with increasing focus on quality and yield of livestock is propelling the growth of the global animal genetics market. According to data, global meat consumption is projected to increase by over 70% by 2050. Developing regions like Asia Pacific and Latin America are likely to lead this demand driven by rising population and income levels.
Market Trends
Growing adoption of advanced reproductive technologies: Technologies such as artificial insemination, embryo transfer, in vitro fertilization etc. are witnessing higher adoption globally. This is facilitating greater distribution of elite genetics and accelerating genetic progress.
Market Opportunities
Asia Pacific offers high growth potential: Growing meat consumption coupled with rising incomes in populous nations like China and India is creating demand for high quality livestock. This provides opportunities for global players to partner with local breeders to cater to the unmet demand.
North America focus on dairy cattle genetics: Dairy cattle accounts for a large share of US agricultural economy. The US is among top exporters of dairy genetics worldwide. Breeders are focusing on technologies to develop dairy cattle with greater milk yield and environmental resilience.
North America dominates the global animal genetics market in terms of value. This is attributed to robust growth in livestock production, high meat consumption, and rising adoption of advanced genetic technologies by leading players in the US and Canada. Europe accounts for a major share as well, with Western European countries exhibiting high demand for genetically healthy livestock
Europe: Accounts for around 30% share due to sophisticated animal farming in Western nations. COVID disrupted trade of germplasm within the region. Regional players are now focusing on local production of genetic materials. Demand is increasing for high milk yielding cows to meet dairy needs.
Asia Pacific: Fastest growing region driven by robust meat demand from China and India. The pandemic delayed infrastructure expansion locally. Governments are now incentivizing use of sexed semen technology in indigenous cattle to boost productivity. Local production of test kits and other products is surging rapidly.
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