Animal Genetics Market Trends

Growth Drivers

• Increased R&D Investments- The field of animal genetics has been witnessing a surge in investments from both biotech companies and research institutions, which is driving innovation and spurring new product development. This trend has been fueled by the growing demand for improved livestock health and productivity, as well as the need to address environmental challenges and meet the evolving needs of consumers. As a result, there has been a considerable focus on genetic research and development, with a particular emphasis on identifying and selecting traits that can enhance animal performance, health, and well-being. This has led to the development of new breeding techniques, advanced gene editing technologies, and innovative genetic tools and tests that are helping to advance the field of animal genetics and contribute to the sustainable growth of the livestock industry.
• Emergence of precision livestock Farming - Using precision farming techniques like genetics, sensors, and data analytics can help farmers improve animal production efficiency, lower costs, and make informed decisions about resource allocation and treatment plans. It also enhances feed and water usage, reduces waste, and minimizes environmental impacts, leading to a more sustainable and profitable operation. As per analytical data, in the next 15 years, the demand for meat, milk, and other animal products may rise by 40% globally. This will have a positive impact on the animal genetics market.
• Changing Consumer Preferences - Consumer preferences have shifted towards animal products that meet specific criteria. They increasingly demand high-quality products that align with ethical and sustainable practices. To fulfill these expectations, animal agriculture has turned to genetic improvement. This involves selectively breeding animals to exhibit desired traits, such as improved meat quality, higher yields, and reduced environmental impact. By genetically improving livestock and aquaculture, the industry can meet consumer demands for products that are not only of superior quality but also produced ethically and sustainably. This shift benefits both the agriculture sector and the consumers who access healthier and more conscientiously sourced products that adapt to evolving market trends.

Challenges

• Sustainability of the economy in regional breeds- Large financial commitments are needed to carry out genetic improvement initiatives for regional breeds. Large sums of money must be spent to build the infrastructure that is lacking in places where native breeds are prevalent. These investments are frequently regarded as having little value because of their results and economic viability. For example, because of economies of scale, artificial insemination in small local animal breed populations costs more per dosage of semen than it does in big animal populations. In many situations, the cost-benefit analysis produces inferior or negative results when compared to numerous necessary investments. Given this situation, one of the primary challenges in the market is the increasing need to increase the productivity of local breeds and to increase the affordability and viability of genetic development programs for these breeds.
• Developing superior animal breeds requires extensive R&D investments.
• Managing and interpreting vast genetic datasets can be complex and require advanced computational resources.