The animal genetics market involves reproduction technologies, genetic testing, and animal selection. Genetic testing looks for desirable and heritable traits in animals like disease resistance and milk productivity. Animal genetics help breeders select animals with hereditary traits that lead to healthier and more productive offspring. By identifying animals with superior genetics, breeders can focus on reproductive technologies like artificial insemination (AI) and embryo transfer to produce progeny that performs well. Genetic selection and testing, along with assisted reproductive technologies allow for more predictable outcomes and continuous genetic improvement in livestock.
The Global Animal Genetics Market is estimated to be valued at US$ 6.6 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the animal genetics are BS Global (US), Groupe Grimaud (France), Zoetis (US), Hendrix Genetics (Netherlands), Topigs Norsvin (Netherlands), CRV Holding (Netherlands), and Neogen (US). These players are focused on developing superior genetic traits via selective breeding and genetic testing. The growing demand for meat and dairy products is also driving the need for high animal performance. Population growth and rising incomes in developing nations are increasing consumption of livestock products. Technological advances are allowing for more accurate genetic testing and selection of desirable traits. Genomic selection techniques are helping to speed up genetic improvement compared to traditional selection methods.
Market Trends
The animal genetics market is witnessing rapid adoption of advanced genetic technologies like genomic selection. Genomic selection uses large datasets on animals’ genomes to predict breeding values more precisely and quickly compared to traditional genetic testing. This is accelerating the genetic improvement in livestock. Another key trend is the rise of innovative reproduction technologies. New techniques like in-vitro fertilization and sexed semen sorting are assisting breeders in producing specific genetic traits in offspring more efficiently.
Market Opportunities
Rising meat consumption in developing economies presents significant opportunities for animal breeders and genetics companies. Livestock farmers in these nations are recognizing the benefits of superior genetics for sustainably meeting growing demand. Another major opportunity lies in using genetic technologies for disease resistance. Identifying and breeding animals with natural resistance to common livestock ailments can help reduce economic losses for farmers globally.
Impact of COVID-19 on Animal Genetics Market Growth
The COVID-19 pandemic has severely impacted the growth of the animal genetics market initially. During the peak of pandemic in 2020-21, there were severe movement restrictions imposed across countries affecting business operations and supply chain dynamics. Breeding activities also reduced significantly impacting genetics development programs. The demand from dairy and meat production reduced due to closure of HoReCa channels and export restrictions further aggravating the situation. However, with mass vaccination drives and relaxation of norms in 2022, the market is recovering fast. There is renewed focus on building animal resilience, disease adaptation, and productivity. Breeding companies are collaborating with research bodies to develop high-quality animal stock best suited for the post COVID scenario. Genomic innovation is also gaining attention to breed livestock for agro-climatic zones. The industry is optimistic to regain growth momentum driven by scientific and digital advancements.
Europe currently holds the largest share of value in the animal genetics market estimated at over 35% in 2024. Countries like France, Germany, UK, and Netherlands have highly developed livestock industries and long-standing public and private investment in animal breeding. Abundance of high-quality animal stock along with structured record management and performance evaluation programs have positioned the region as the global leader. Presence of major international players and innovation hubs also provide competitive advantage to Europe. Asia Pacific is expected to emerge as the fastest growing regional market between 2023-2030 at an estimated CAGR of around 9%. Factors like rising meat consumption, growing middle-class, expansion of commercial livestock farming are driving growth across APAC nations. Governments are also promoting genetic improvement interventions, use of advanced reproductive technologies to meet rising protein demands sustainably.
