The Global Animal Genetics Market is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1% during the forecast period. The growth in the animal genetics market is mainly driven by the rising consumption of animal-derived protein and increasing global population & rapid urbanization. Additionally, growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases & business loss, and increased adoption of advanced genetic technologies also contribute to the growth of the market.
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The live animal segment accounted for the largest share of the animal genetics market.
The live animal segment accounted for the largest share of this market. This can be attributed to the large demand for poultry meat and eggs in developed countries and the simultaneously increasing demand for the same in developing countries due to the growing population and rapid urbanisation in these regions.
Under the live animal segment, poultry occupied the largest market share during the forecast period. The drivers of the poultry market are the strong demand for poultry and eggs in developed countries. Additionally, in developing countries, the growing population and rapid urbanisation are contributing to the rising global demand for poultry.
Asia-Pacific is the fastest-growing market for animal genetics market during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The established livestock sector, growing porcine industry, increasing population and urbanization, rising per capita incomes and increasing per capita spending on animal care, and increasing awareness about technologically advanced animal genetic products and services in this region are contributing to the growth of the market in this region.
Key Market Players:
Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendix Genetics (Netherlands), and Animal Genetics (US). Some other players in the market include VetGen (US), DanBred (Denmark), Tropical Bovine Genetics (India), Trans Ova Genetics (US), Inguran LLC dba ST Genetics (US), Semex Alliance (Canada), Genetic Veterinary Sciences (US), Cobb-Vantress (US), Milk Source (US), Eurogene AI Services (Ireland).
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