According to the MarkNtel Advisors’ research report, “Global Animal Genetics Market Analysis, 2021,” the market is likely to grow at a CAGR of 6.4% in the forecast period of 2021-26. Increasing population, rising preferences for animal adoption of genetic services, and rapid global urbanization are a few most prominent factors contributing to the market growth. Furthermore, Artificial Insemination, increasing adoption of uniform genetic applications, and embryo transfer for large-scale production of modified breeds shall also expand the market growth in the forecast period.
Key questions answered in the study
Live Porcine likely to have the fastest growth in the forecast period.
Based on the products, the live porcine segment held the largest market share in the previous few years and is likely to witness robust growth in the forecast period too. It owes to the growing consumer base for pork meat and the rising inclusion of advanced genetic research in the segment. Besides, environmental circumstances like limited land requirements & low maintenance of animals are other critical factors likely to fuel the segment growth in the forecast period.
The Semen Segment Dominates the Global Market
Among various segments of the genetic material of the market, the semen genetic material holds the most significant market share and dominates the market. It owes to the expanding adoption of artificial insemination & semen in cattle, sheep, pigs, and goat breeding. Moreover, the increasing inclination toward animal protein and advanced genetic practices is another crucial factor amplifying the demand for Animal Genetics in the market.
“Global Animal Genetics Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Animal Genetics providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America to Dominate the Market Share in the Forecast Period.
North America is likely to dominate the market share in the forecast period due to the extensive availability of competitive players in the animal genetics industry. In North America, the established livestock sector, and the high adoption of the advancing technologies in animal genetics are prime factors likely to contribute towards robust market growth. Moreover, the growing requirement for animal protein shall also push the North American animal genetics market to new heights. Hence, based on these crucial aspects, the North American region is very likely to contribute to the overall market growth in the forecast period, states MarkNtel Advisors in their research report, “Global Animal Genetics Market Analysis, 2021.”
According to MarkNtel Advisors, the major leading players in the Global Animal Genetics Market are Animal Genetics Inc., AquaGen AS, Aviagen Group, Coöperatie Koninklijke CRV u.a., Genetic Veterinary Sciences Inc., Genus Plc, Hendrix Genetics BV, Neogen Corp., Topigs Norsvin, Zoetis Inc.