ALBANY, New York, March 4, 2020 /PRNewswire/ -- Owing to multiple factors such as adoption of advanced technologies, high demand for well-bred animals with desirable genetic traits (livestock and poultry), and increase in disposable income is helping the global animal genetics marketchart a Compound Annual Growth Rate of 6.0 % from 2018 to 2026. As a result of this robust growth rate, market would be reach a valuation of USD 8.0 bn by the end of the forecast period.

Transparency Market Research states, "One of the most significant trends that will lead to a higher market growth over the forecast period is increase in ownership of companion animals. Besides, with food safety and quality gaining prominence, the live animal segment will show significant growth from 2018 to 2026."

Key Findings of the Animal Genetics Market Study

Explore 157 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Animal Genetics market by Product Type - Live Animals (Bovine, Porcine, Poultry, Canine, and Piscine), Genetic Material (Semen, Embryo), Genetic Testing, Read Details TOC of the Report - https://www.transparencymarketresearch.com/report-toc/18995

Animal Genetics Market: Key Driving Factors

The animal genetics market is set to witness sturdy growth over the forecast period owing to a plethora of trends and growth drivers. As per Transparency Market Research, some of the crucial factors are high level of consumption of meat and poultry products, increase in purchasing power of people, need to plug supply gaps in terms of food, and growing demand for stronger animals, well-bred and with desirable genetic traits. An overview of growth factors is provided below:

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Key Impediments for Animal Genetics Market Players

Despite charting a steady growth curve over the forecast period, the global animal genetics market would not be free from restraints. As per Transparency Market Research, one of the major restraints that will limit growth in the global animal genetics market is the regulatory environment which is strict in terms of animal genetic engineering. Besides, a notable dearth of skilled professionals in the market is also a limiting factor in the global animal genetics market. Additionally, it is worth noting that animal testing is expensive.

Animal Genetics Market: Region-wise Analysis

Analyze Animal Genetics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sampleof the study,

Competition Landscape

Research and Development (R&D) forms the core of global animal genetics market and is thus a major determinant of the size of market share a player holds. Besides, players also forge partnerships in order to tap into uncharted territories in order to bring a larger consumer base into the fold. It is pertinent to note here that technology also holds a prominent place in the market.

Transparency Market Research has profiled key players such as Genus plc, CRV Holding B.V., Neogen Corporation Zoetis, Inc., Groupe Grimaud, Topigs Norsvin, VetGen, Animal Genetics Inc., and Hendrix Genetics BV, in its market report. The global animal genetics market has a decent number of players operating the market landscape.

Transparency Market Research has segmented the Animal Genetics market report based on product type, geography and forecast.

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Demand for Well-bred Animals With Desirable Genetic Traits to Drive Animal Genetics Market: Transparency Market Research - Benzinga

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