The global Animal Genetics Market size is expected to reach USD 8.9 billion by 2026, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.9%. The market for animal genetics is anticipated to witness rise in demand owing to factors such as increasing consumption of animal proteins and rapid global urbanization. To fulfill the continuously rising demand, the preference for genetics to breed high-quality livestock and secure large production has increased. The demand for animal genetics has increased over the years, owing to rise in various animal diseases, increasing prevalence of zoonotic diseases, and rise in adoption of pets & companion animals.
According to Food and Agriculture Organization (FAO)
publication 2017, livestock contributes almost 40% to the global value of
agricultural output, and it supports food security and livelihood of more 1.5
billion people worldwide. However, the increasing land requirement for these
animals and grazing is a major environmental concern. Public awareness
regarding such concerns is a major reason leading to the shift toward white
meat and vegan lifestyle, impeding growth of animal genetics. However,
increasing support and research by government organizations to improve
productivity is aiding growth. For instance; Animal Improvement Program
Launched in 2014, by Animal Genomics and Improvement Laboratory (AGIL), which
is an agricultural research service organization of USDA. The program aims at
improving productivity and efficiency of dairy animals & ruminants.
The market follows the standards set by
International Society of Animal Genetics (ISAG) and leading animal research
laboratories such as The University of California Davis (U.C. Davis). The ISAG
standard panel consists of 18 STR markers, and any company in animal genetics
needs to follow the panel and standards set by the authorities. The need for
high investments in development of new technology and the duration of product
launch are some of the major factors resulting in steady growth. However,
increasing population is expected to pose an ongoing challenge due to rise in
the need for animal protein, aiding developments in the market.
Related Press Release@ Animal Genetics Market Report
Animal Genetics Market Report Highlights
- Porcine segment was the largest revenue-generating segment in 2018,
owing to increasing consumption of pig meat in the European countries
- The embryo segment accounted for the largest revenue share, based on
genetic material, in 2018, owing to the large numbers of embryos produced
and sold in countries such as France, Canada, Brazil, and Spain
- In the services segment, the genetic diseases testing segment
accounted for the largest share in 2018 and is expected to maintain its
dominance throughout the forecast period
- The North American animal genetics market is the leading region and
accounted for the largest revenue share in 2018, mainly due to existence
of significant number of research and development activities in the region
- The Asia Pacific region is expected to grow at the highest rate
during the study period. Growing population coupled with increasing demand
for animal protein is a major factor aiding regional growth
- Some of the major players are Genus Plc; Envigo Corporation; Topigs
Norsvin; CRV Holding B.V; Groupe Grimaud La Corbiere SA; Hendrix Genetics
BV; Neogen Corporation; Zoetis, Inc; URUS; and Animal Genetics, Inc.
Animal Genetics Market Segmentation
Grand View Research has segmented the global animal
genetics market on the basis of live animals, genetic material, services, and
region:
Animal Genetics Live Animals Outlook (Revenue, USD
Million, 2014 - 2026)
- Porcine
- Bovine
- Poultry
- Canine
- Others
Animal Genetics Genetic Material Outlook (Revenue, USD
Million, 2014 - 2026)
- Embryo
- Semen
Animal Genetics Service Outlook (Revenue, USD Million,
2014 - 2026)
- Genetic Trait Testing
- Genetic Diseases Testing
- DNA Typing
Animal Genetics Regional Outlook (Revenue, USD Million,
2014 - 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment