Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 19, 2024 (GLOBE NEWSWIRE) -- As per the latest report published by Transparency Market Research (TMR), the global Animal Genetics Market (Markt für Tiergenetik) is estimated to reach US$ 17.1 Billion by 2034 at a noticeable CAGR of 5.4% between 2024 and 2034.
Animal genetics means the study of genes impacting performances of an animal. These genes can be passed from parents to the offspring. The information contained in the animal’s genes makes provision for biological blueprint for its appearance, survival and function, and hugely defines the differences and similarities with the other organisms. The Animal Production and Genetics Unit leads the Food and Agriculture Organization’s activities in supporting the countries to manage genetics of livestock population.
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As per the National Institute of Food and Agriculture (NIFA), over 60% of dairy cows in the U.S. get bred through artificial insemination with beef producers accounting for less than 5% of these artificial inseminations. This percentage indicates the immense potential that animal genetic market holds.
Animal Genetics Market Report by TMR highlights the factors that expedite as well as restrain the Animal Genetics market size. The latest trends and opportunities have also been captured in the report.
Key Takeaways from Animal Genetics Market Report
- Increase in Awareness regarding Protein-rich diet amongst Urbanized Population Expanding Animal Genetics Market Size
The urbanized countries are witnessing a rise in demand for protein-rich diet, which is drastically transforming the animal husbandry vertical. The individuals over here are thus emphasizing animal-derived items such as milk, meat, and eggs. Cattle sector is working toward adoption of genetic technology for increasing production to address the demand for animal-derived items.
Animal genetics are important for increasing egg, milk, and meat output. The advanced genetic methods facilitate breeders in having cattle fit for various conditions, fighting illnesses, and producing high-class products.
The combined effect of genetic innovation and dietary needs is thus accelerating the expansion of animal genetics industry.
- Adoption of Cutting-Edge Biotechnology for Genomic Selection boosting Animal Genetics Market Value
Emergence of genomic selection has brought in a novel age of precision in animal breeding. Breeders now make use of cutting-edge technologies such as next generation analytics and sequencing for locating and modifying specific genes having desired characteristics with noticeable precision. This process improves productivity and raises the disease resistance quotient.
Genomic selection is also creating lucrative opportunities to genetically modify cattle breeds adapted to the local ambience. Moreover, such locations have a higher genetic variety in the indigenous cattle breeds, which, in turn, unleashes unexplored opportunities in genetics market for genetic development and selective breeding.
Harnessing and persevering genetic variation, apart from protecting rural livelihoods and food security, opens opportunities for market distinctiveness and expansion. It facilitates reciprocal benefits for local communities and corporations.
Animal Genetics Market Regional Insights
- North America at the Forefront!
North America holds over 40% of the animal genetics market share. This is ascribed to the U.S. and Canada housing an exhaustive livestock industry, notable investments in breeding programs and biotechnology, and advanced genetic R&D capacities. In March 2024, HerdWhistle Technologies announced plans of partnering with Hendrix genetics in order to develop as well as market precision farming. This partnership’s objective is that of improving the performance of swine producers.
- Europe to Contribute in line with Stern Regulations
Europe is witnessing a rise in demand for efficient and sustainable livestock production coupled with stern regulations with regards to animal welfare and food safety. Another factor is increase in consumer awareness regarding the potential impacts of genetic technologies on quality of product. The European Commission, in January 2024, approved EUR 1 Bn for two German schemes to enhance animal welfare in context with livestock breeding.
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Leading Players in Animal Genetics Industry
Zoetis, Inc., Genus plc, Neogen Corporation, CRV Holding B.V., Groupe Grimaud, Topigs Norsvin, EasyDNA, Animal Genetics Inc., and Hendrix Genetics B.V. are the key players operating the global parlance.
Key Strategies by Prominent Animal Genetics Manufacturers
The leading players in the animal genetics market are launching new products to sail through the competitive landscape. For instance, in October 2023, Basepaws launched a comprehensive DNA test for dogs with the objective of focusing on health as well as early diagnosis of any disease. The test helps pet owners to change to proactive from reactive care. It constitutes simple swabbing with access to mobile-friendly result for obtaining streamlined experience.
The leading stakeholders are also engaging in collaborations to reach out to a wider spectrum of consumers. For instance, in January 2023, Zoetis entered into collaboration with VAS in order to give farmers a better compatibility crossover between the latter’s pulse platform (a broad farm management cloud-based software) and DairyComp (a herd health system with Zoetis’ CLARIFIDE fertility and genetic testing.
Market Segmentation
- Product Type
- Live Animal
- Bovine
- Porcine
- Poultry
- Canine
- Others
- Genetic Material
- Semen
- Embryo
- Others
- Animal Type
- Farm Animal
- Companion Animal
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