Animal genetics market is expected to grow at a CAGR of 9% from 2023 to 2033 due to increasing animal population

Animal genetics market is expected to grow at a CAGR of 9% from 2023 to 2033 due to increasing animal population

animal genetics market

The animal genetics market is estimated to generate a revenue of approximately 10067 Million USD CAGR by approximately 6% over the forecast period i.e. 2023 – 2033.

NEW YORK, NEW YORK, INDIA, Nov. 16, 2022 /EINPresswire.com/ — Research Nester has released a report titled “Animal Genetics Market: Global Demand Analysis & Opportunity Outlook 2033” which provides a detailed overview of the global animal genetics market in terms of market segmentation by animal type, genetic material, genetic testing and by region.

Additionally, for the in-depth analysis, the report encompasses industry growth indicators, supply and demand restraints and risk, along with a detailed discussion of current and future market trends associated with the growth. of the market.

The global animal genetics market is expected to grow at a CAGR of ~6% during the forecast period, i.e., 2023-2033 by securing revenue of ~USD 10067.0 million by the end of 2033. Growing animal population is expected to propel the growth of the market over the forecast period. In 2022, the world’s cattle population was estimated to be around 1000 million head. Additionally, increased demand for animal protein is further estimated to propel the market growth over the forecast period. In 2021, fish consumption for protein was estimated at 150 million metric tons.

Further, by animal type, the global animal genetics market is segmented into canine, bovine, porcine, poultry and others. Among these sub-segments, the pig segment is expected to gain a market share of 31.15% in 2022. The growth of the segment can be attributed to the increase in the number of pigs. In 2022, the largest number of pigs was found in China, totaling 400 million head.

Learn more about this report @ https://www.researchnester.com/reports/animal-genetics-market/4390

Further, the global animal genetics market, by region, is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa region. Among these regions, the North America region market currently holds the highest market share of 36.26% and is expected to grow at a rapid rate during the forecast period owing to the increase in production and pork consumption and a growing trend towards high quality breeds.

The research is global in nature and covers detailed analysis of the market in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, an analysis including market size, annual growth and opportunity analysis, competitive study of market players, investment opportunities, future prospect demand, etc. were also covered and displayed in the research report.

Rise in Animal Infectious Disease Instances to Drive Market Growth

The Centers for Disease Control and Prevention has stated that about 6 out of 10 infectious diseases are transmitted by animals.
Animals are responsible for the spread of a significant number of infectious diseases in humans. These diseases are hookworms, ringworms, salmonella, parrot fever, Lyme disease and others. In 2018, approximately 20,000 cases of Lyme disease were observed in the United States. to find the cause and the cure of these diseases, animal genetics becomes beneficial. Hence, these factors are expected to propel the market growth over the forecast period.

However, the higher cost associated with specialized breeding programs is expected to act as a major restraint to the growth of the global animal genetics market during the forecast period.

This report also provides the existing competitive scenario of some of the major players in the global animal genetics market including company profiling of Hendrix Genetics BV, Genus plc, Animal Genetics Inc., Crv Holding BV, Vetgen LLC, Neogen Corporation, Topigs Norsvin, Zoetis Inc., GROUPE GRIMAUD LA CORBIERE and Royal Agrifirm Group. Profiling contains key business information that encompasses an overview of businesses, products and services, key financials, and recent news and developments. Overall, the report presents an in-depth overview of the global Animal Genetics Market which will help industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players to opportunity-seeking and other stakeholders to align their market-centric strategies based on current and projected future trends.

Do you have a question? Ask Our Analyst @ https://www.researchnester.com/ask-the-analyst/rep-id-4390

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