Animal Genetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Animal Genetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Animal Genetics Market: Overview
The global animal genetics market is likely to rise at a healthy growth rate over the assessment timeframe. Augmented consumption of protein extracted from animals is prophesized to favor the growth of the global animal genetics market in the forthcoming years. In addition, increasing populations generates massive demand for animal-based protein, which further benefits the market.
The global animal genetics market has been segmented on the basis of region and product and services. The sole objective of providing such an all-inclusive report is to offer a deep insight into the market.
Global Animal Genetics Market: Notable Developments
The global animal genetics market has gone through a few developments in the last few years. These market developments make a manifestation of how and what is influencing the growth of the global animal genetics market. One such development is mentioned below:
- In February 2019, Netherlands-based Hendrix Genetics B.V. along with a leading manufacturer of aquafeed and animal nutrition has acquired 80% of stake in Ecuador-based Macrobio S.A. The latter is a shrimp farm from Moxley Corporation S.A. Hendrix Genetics B.V. is a leading provider of multi-species animal breeding services. This strategic move by Hendrix Genetics is anticipated to expand its product portfolio and widen its reach globally.
Some of the key market players of the global animal genetics market are
- CRV Holding B.V.
- Hendrix Genetics BV
- Neogen Corporation
- Topigs Norsvin
- Groupe Grimaud
- Animal Genetics
Global Animal Genetics Market: Growth Drivers
High Demand for Animal Protein Places the Market on a High Growth Trajectory
The global animal genetics market is estimated to experience considerable growth over the review period. Such stellar growth of the market is attributed to the augmented adoption of genetic technologies and strict implementation of animal welfare regulations.
Likewise, livestock population has witnessed a substantial rise together with awareness related to the existence of animal genetic disorders. Besides, the need to cater to the unmet demands of animal protein is likely to add fillip to the global animal genetics market over the forecast timeframe.
With an objective to produce better milk and food products, there has been an escalation in the research and development activities by several scientists. Genetic modifications are likely to emerge as another factor supporting the expansion of the global animal genetics market in forthcoming years.
The market is also prophesized to be fuelled by rapid expansion of urbanization and rise in population, which place massive demand for animal protein. Increased adoption of various advanced genetic practices like embryo transfer, artificial insemination (AI) for production of modified breed on a large scale is estimated to favor the market in the years to come.
On the other hand, the dearth of properly skilled technicians and professional with expertise in genetic services is estimate to impede the growth of the global animal genetics market in years to come. Furthermore, strict regulations related to genetic engineering of animals together with high cost of animal testing is likely to obstruct the growth of the market.
Global Animal Genetics Market: Regional Outlook
Asia Pacific, the Middle East and Africa, South America, Europe, and North America comprise the major regions of the global animal genetics market.
Considering geographies, North America is likely to play a dominant role in the global animal genetics market over the assessment timeframe. Such regional supremacy is ascribed to the presence of a large number of well-known companies of the global animal genetics market. In addition, the presence of a well-established livestock industry is likely to propel the North America animal genetics market to prominence in the near future.
The global animal genetics market is segmented as:
Products and Services
- Live Animals
- Genetic Material
- Embryo
- Genetic Testing
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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