Increasing Consumption of Animal-Derived Protein to Drive the Animal Genetics Market
Posted: Apr 24, 2020
The global food economy is being affected by the gradual change in food consumption patterns of animal-based products. The demand for animal protein is surging rapidly, and as per the Food & Agriculture Organization (FAO) statistics, the trend is expected to continue over the upcoming years. The livestock industry contributes 40% of the global value of agricultural output, further contributing to the livelihood and food security across the globe.
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Animal genetic resources are an important part of biological diversity, which is inclusive of the breeds and strains of domesticated animals. With the increasing global demand for animal products, the production level of livestock has slightly reduced. Thus, to narrow the demand and supply gap, livestock producers across the globe are increasingly adopting animal genetics practice. Moreover, the global animal genetics market is also strongly prompted by the substantial support of the government in terms of investments, initiatives, and trade policies. Despite the global presence, the market for animal genetics is relatively small as compared to other industrial input suppliers.
Animal genetics is a division of science that is related to the production of the animal with the required traits. Although the global count of cattle has fallen over the past decade, the total production of beef and milk has increased. The increase in production was because of the genetic advancements, which have led to increased animal genetic activities, resulting in increased production.
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 production sector since the services offered in the animal genetics industry play a crucial role in executing an efficient production process. The sector encapsulates services such as disease testing and trait testing for an animal agriculturist.
The competitive landscape for the animal genetics market demonstrates an inclination toward companies adopting strategies such as mergers and acquisitions, business expansion and contracts, partnerships, collaborations and joint ventures, and product launches. The major established players in the market are focusing on business expansion and contracts to increase their customer base and enhance their business and regional products segment, whereas the relatively less adoptive strategies comprise mergers and acquisitions. Hendrix Genetics BV, Cobb-Vantress, Semex, H&N International GmbH, Hubbard, Viking Genetics, Aviagen Group, and Mars Petcare are some of the prominent players in the animal genetics market.
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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.
The outcome of the emerging strategies and developments are already adding to the surge in 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. The 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 the municipality of Saskatchewan to intact the company's biosecurity, R&D, and operational efficiency.
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