Animal Genetic Market to Reach USD 11.59 Billion by 2031, Expanding at a CAGR of 7.5%

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Animal Genetic Market Analysis

The global Animal Genetic Market is projected to experience substantial growth over the next decade. Valued at USD 6.5 billion in 2023, the market is anticipated to reach USD 11.59 billion by 2031, reflecting a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

Animal genetics involves the study and application of genetic principles to enhance the health, productivity, and breeding efficiency of livestock and other animals. This field is crucial for improving animal breeding practices, ensuring food security, and advancing animal health. The increasing demand for high-quality animal products, advancements in genetic technologies, and growing awareness about animal health and productivity are key drivers propelling the market’s growth.

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Key factors contributing to the market’s expansion include:

  1. Rising Demand for Animal-Derived Products: The increasing global demand for meat, milk, and other animal-derived products is driving the need for advanced genetic solutions to enhance livestock productivity and quality.
  2. Technological Advancements: Innovations in genetic technologies, such as genomic selection, gene editing, and artificial insemination, are significantly improving the efficiency and effectiveness of animal breeding programs.
  3. Growing Awareness of Animal Health: Enhanced awareness about animal health and the importance of genetic diversity is leading to increased adoption of genetic testing and improvement programs among livestock producers.
  4. Government Initiatives and Funding: Supportive government policies and funding for genetic research and development are facilitating advancements in the animal genetics field and promoting market growth.
  5. Sustainable Farming Practices: The focus on sustainable and ethical farming practices is encouraging the use of genetic technologies to improve animal welfare and reduce the environmental impact of livestock production.

KEY MARKET SEGMENTATION

By Live Animals

  • Porcine
  • Bovine
  • Poultry
  • Canine
  • Others

By Genetic Material

  • Embryo
  • Semen

By Services

  • Genetic Trait Test
  • Genetic Diseases Test
  • DNA Typing

North America holds the largest market share due to its advanced agricultural infrastructure, high adoption of genetic technologies, and strong research and development activities. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by increasing livestock production, rising demand for animal-derived products, and growing investments in agricultural biotechnology.

Leading companies in the Animal Genetic Market are focusing on strategic initiatives such as mergers and acquisitions, product launches, and partnerships to strengthen their market position and expand their product offerings. These efforts are aimed at addressing the growing demand for advanced genetic solutions and improving animal health and productivity.

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