Animal Genetics Market Size to Reach $11 Billion by 2032, Driven by Technology Adoption to Boost Livestock Productivity
-
Animal genetics market size was valued at $6.27 billion in 2022 and is expected to reach $11.32 billion by 2032, growing at a CAGR of 6.1%.
-
Market growth is driven by use of technology to collect and process genetic data to assess animals' traits and select the best parents.
-
Asia Pacific dominated the largest market share in 2022 due to government initiatives like India's Rashtriya Gokul Mission to enhance cow and milk productivity.
-
The semen segment accounted for the largest share based on genetic material due to its ability to help increase milk and meat production in offspring.
-
Zeotis acquired Basepaws in June 2022 to offer genetic testing, analytics, and health risk evaluations to pet owners.