NEW YORK, Nov. 23, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Animal Genetics Market Share, Size, Trends, Industry Analysis Report, By Animal (Poultry, Porcine, Bovine, Canine, and Other Animals); By Genetic Material; By Genetic Testing Services; By Region; Segment Forecast, 2023- 2032" published by Polaris Market Research in its research repository.
"According to research report, the global animal genetics market size/share was valued at USD 6.27 Billion in 2022 and is expected to touch USD 11.32 Billion By 2032, growing at a CAGR of 6.1% during the forecast period."
What is Animal Genetics? How Big is Animal Genetics Market Size?
Animal genetics is the study of genes. Genes influence the conduct of an animal and are accrued from parents to offspring. Animals are studied, and the data is garnered on the conduct or alleged attributes they demonstrate. This includes being tough to battle illnesses or being able to evolve with a handful of resources and much more. The rapidly rising demand for the animal genetics market can be attributed to the usage of contemporary technology to collect and process these data for each and every animal in the breeding program. In such a way, it is feasible to meticulously assess the genetic prospect of solitary animals and choose which are the foremost parents to make fit and more structured offspring.
Animal genetics is acquiring escalated precedence to escalate the quality of livestock. The evolving research ventures in this territory might interest producers in resisting the illnesses of the animals and encountering caliber degrees of illness by firms practicing nonvegetarian food processing. In a broad gamut of domains, the livestock population provides people with many goods and services, such as meat, milk, eggs, fiber, and drought power.
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Market's Key Understanding from the Report
Market Growth Drivers and Trends
Prominent Players in the Market
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Animal Genetics Market Outlook & Scope
Report Attributes | Details |
Market value in 2023 | USD 6.64 Billion |
Market value in 2032 | USD 11.32 Billion |
Growth rate | 6.1% from 2023-2032 |
Base year | 2022 |
Historical data | 2019-2021 |
Forecast period | 2023-2032 |
Significant Segmental Breakdown
Based on animal analysis, the bovine segment witnessed the highest growth during the forecast period. The animal genetics market demand is on the rise as there is a speedy upswing in demand for dairy products and beef. The move in consumer partiality towards a vegetarian diet is one of the prominent elements pushing the demand for dairy products by consumers as it can restore the paucity of vitamins and minerals linked with zero intakes of nonvegetarians. The escalating demand for dairy products, together with beef, is inspiring producers to possess choosy breeding as it sanctions contemporary species with escalated nutritional value and lessens the opportunity for genetic diseases.
Based on genetic material analysis, the semen segment dominated the market. The animal genetics market trends include the semen for animals involving bovine, porcine, equine, and others from healthy and fertile cattle, which will assist producers in escalating milk production and meat in the subsequent offspring. It also sanctions cattle breeders to escalate their hostility to diseases, pushing meat productivity and dairy products in the near future.
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Regional Analysis
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SOURCE Polaris Market Research
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