Global Animal Genetics Market - Analysis and Forecast by BIS Research projects the market to grow at a significant CAGR of 6.24% during the forecast period 2019-2024. Increasing consumption of animal-derived protein, a growing population, rapid urbanization, and extensive adoption of genetic services to overcome genetic diseases in animals, coupled with increased adoption of genetic technologies, are some of the factors driving the growth of the animal genetics market.
Read Report Overview: Animal Genetics Market
Animal genetics is a division of science which is related to the production of the animal with the required traits. The number of cattle has decreased over the past decade; however, the total production of beef and milk has increased. The increase in the production was because of the genetic advancements, which have led to increased animal genetic activities, resulting in increased production.
The animal genetics market by region is segregated under four major sections, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions is provided on the basis of solutions and country-wise segmentations.
The growth of this market is driven by certain other factors such as:
- Rising demand for animals with uniform traits
- Increasing need for global food security
- Requirement of advanced technologies to ease animal agriculture
Product Type Solutions to Witness Growth in the Animal Genetics Industry
The major solutions offered in the animal genetic industry include products and services. The product segment is further classified into live animals and genetic materials. The buyers of all products in the animal genetics industry are food manufacturers, dairy producers, beef traders, and suppliers of animal genetics stock to animal agriculturists. The services sector in the industry works in close coordination with the product sector, since the services offered in the animal genetics industry play a crucial role in executing efficient production process. The sector encapsulates services such as disease testing and trait testing for an animal agriculturist.
Genetic Material Segment to Witness Fastest CAGR
The major category of product type in the animal genetic industry is classified into live animals and genetic materials. Under the live animals category, prominent animal types include poultry, porcine, bovine, and others. Under the genetic material category, materials such as semen and embryo for transferring desirable trait to the upcoming generation has been considered.
North America: Frontrunner in the Animal Genetics Market
The trends of the animal genetics market vary across different geographical regions. The animal genetics market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). North America is at the forefront of the global animal genetics market, with high market penetration rate in the U.S., Canada, and Mexico, which are expected to display robust market growth in the coming five years.
Get Free Sample: https://bisresearch.com/requestsample?id=833&type=download
Key Companies in the Animal Genetics Industry
The key market players in the global animal genetics market include Hendrix Genetics BV, Cobb-Vantress, Semex, H&N International GmbH, Hubbard, Viking Genetics, Aviagen Group, and Mars Petcare, among others.
Key Questions Answered in this Report
- What is the global animal genetics market size in terms of revenue, and what is the expected growth rate during the forecast period 2019-2024?
- What are the traditional and emerging technologies in the animal genetics market?What does the industry profitability by region in the animal genetics market signify?
- What is the supply chain analysis of the animal genetics market?
- What is the expected growth and market size for the animal genetics market based on different solutions?
- What is the revenue generated by animal genetics in different product type such as live animals and genetic materials at a global and regional level?
- What is the market size and opportunities of the animal genetics market across different regions?
- What are the major forces that are expected to increase the demand for the global animal genetics market during the forecast period?
- What are the key trends and opportunities in the market pertaining to global animal genetics?
- What are the major challenges inhibiting the growth of the global animal genetics market?
- What is the competitive strength of the key players in the animal genetics market on the basis of analysis of their recent developments, product offerings, and regional presence?
