Major Players in the Animal Genetics Market Pursue the Strategies of Acquisitions and Agreements, Partnerships, and Collaborations to Expand Their Share in the Market
The global animal genetics market is fragmented in nature with different major players in each product category. The global animal genetics products market is dominated by Genus plc (U.K.), EW Group (Germany), Alta Genetics (Canada), and Hendrix Genetics (France); while, the global animal genetic services market is dominated by Zoetis, Inc. (U.S.) and Neogen Corporation (U.S.).
Genus Plc (U.K.) dominated the animal genetic products market, accounting for the highest market share in 2015. The company operates through three business units, namely, Genus PIC, Genus ABS, and Genus Asia. Genus PIC provides porcine to its customers in North America, Latin America, and Europe. Genus ABS provides dairy and beef to customers in North America and Latin America; while, Genus Asia provides porcine and bovine to customer in the fast-growing Asian market. The company operates in 25 countries across the Asia-Pacific, Europe, and North America. The company primarily focuses on acquiring established market players in the animal genetics industry to provide new technologies to its customers and gain an edge over its competitors.
Key strategies adopted by major players include acquisitions; agreements, partnerships, and collaborations; and expansions. For instance, in April 2016, Hendrix Genetics entered into an agreement with Interaves/Globoaves (Brazil) to acquire distribution activities of Hisex layers. Similarly, in September 2014, Genus entered into a strategic agreement with River Stone Farm (Shandong) Co., Ltd (China). This agreement helped the company to strengthen its position in China, one of the largest markets in the global pork industry. Some of the other prominent players in the animal genetics market are Topigs (Netherlands), Envigo (U.S.), CRV Holding B.V. (Netherlands), Groupe Grimaud (France), Neogen Corporation (U.S.), Alta Genetics (Canada), VetGen (U.S.), Zoetis, Inc.(U.S.), and Animal Genetics, Inc. (U.S.).
In order to maintain their leadership, many players pursue the strategies of acquisitions; and agreements, partnerships, and collaborations. Some of the major players aspire to expand their geographic presence in order to garner greater market shares. While expansions have been followed by some companies, a majority of the top players adopted acquisitions; and agreements, partnerships, and collaborations as their key growth strategy.