Animal Genetics Market Key Insights, Profiling Companies and Growth Strategies 20244
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.
Genetic engineering in the animal genetics industry is mostly done for poultry animals, which are followed by cattle and swine. Increasing population and rapid urbanization, increasing demand for animal protein, rapid adoption of genetic services and practices such as artificial insemination and embryo transfer for large-scale production and quality breeds are the factors supporting the growth of animal genetics market.
Supported by increasing investments and technological developments, companies across the globe are working upon creating genetically modified animals with desirable characteristics, which can help in producing high-quality meat and milk, more efficiently and sustainably. The animal genetics market is witnessing gradual adoption of several upcoming technologies such as artificial insemination, sperm sexing, embryo transfer, and others, which are further propelling growth in the 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 animal genetics market comprises major companies providing both products and services. The product type category companies include companies providing live animals and genetic materials, such as Hendrix Genetics BV, Aviagen Group, Groupe Grimaud, Cobb Vantress, PHW GROUP LOHMANN & CO. AG, and Hubbard Breeders. The service type category is inclusive of companies providing disease and trait testing, such as Animal Genetics Inc., Viagen Pets, Zerlotti Genetics, DDC Veterinary, and Weatherbys. This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry.
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The result of the emerging strategies and developments are already surging the market in the form of business expansion and contracts. Moreover, the growing demand for animal genetic services is further expected to increase the involvement of companies across different segments of the value chain. Majority of the companies preferred business expansion and contracts to enhance their presence while the relatively less adoptive strategies comprised mergers and acquisitions. Business expansion and contracts in the animal genetics market presented a major move made by a large number of companies. For instance, in Aviagen Group, started the operations of its ninth largest hatchery in the U.S. In June 2019, Hypor, a subsidiary of Hendrix Genetics BV, opened a new swine nucleus farm in municipality of Saskatchewan to intact the company’s biosecurity, R&D, and operational efficiency.