The increasing population and rapid urbanization worldwide have resulted in a growing preference for animal-derived food products such as dairy products and meat. Several studies have proved that genetically modified (GM) cow can produce more milk and is less susceptible to various common cattle diseases, such as bovine respiratory disease complex and clostridia disease. As proteins play an important role in nutrition, the consumption of meat and meat products has increased. Animal-derived proteins assist in the synthesis of body tissues for renovation and faster growth. The amino acid profile offered by animal-derived proteins plays a significant role in immunity, environmental adaptability, and other biological functions. Genetically modified poultry, such as broilers, have high protein and are easily digestible.
According to the Food and Agriculture Organization of the United Nations (FAO) estimates, the global demand for meat products has increased by 58% from 1995 to 2020. The estimates also show that meat consumption has risen from 233 million metric ton in 2000 to 300 million metric ton in 2020. Similarly, milk consumption has increased from 568 in 2000 to 700 million metric ton in 2020. The FAO also estimated that egg production has increased by 30% in 2020. China is among the major developing country propelling the demand for poultry, pig meat, and milk. In contrast, Thailand is the largest producers of poultry, pig meat, and milk. Thus, animal genetics is serving to be a great tool to meet the growing demand for animal-derived food products.
The Asia Pacific animal genetics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market is expected to grow due to the rising preference for animal-derived protein supplements and food products and the increasing adoption of progressive genetic practices such as artificial insemination (AI) and embryo transfer in the region.
Asia Pacific Animal Genetics Market Segmentation
The Asia Pacific animal genetics market is segmented based on type, animal, genetic material, and country. Based on type, the Asia Pacific animal genetics market is bifurcated into services and product. The services segment held a larger market share in 2022.
Based on animal, the Asia Pacific animal genetics market is segmented into porcine, poultry, bovine, canine, and others. The porcine segment held the largest market share in 2022.
Based on genetic material, the Asia Pacific animal genetics market is bifurcated into embryo and semen. The embryo segment held a larger market share in 2022.
Based on country, the Asia Pacific animal genetics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific animal genetics market share in 2022.
Neogen Corp, Genus Plc, Topigs Norsvin Nederland B.V, Zoetis Inc, Hendrix Genetics B.V, Inotiv Inc, Alta Genetics Inc, GROUPE GRIMAUD LA CORBIERE, and Charles River Laboratories International Inc are some of the leading companies operating in the Asia Pacific animal genetics market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,246.33 Million |
| Market Size by 2028 | US$ 1,868.11 Million |
| CAGR (2022 - 2028) | 7.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Animal Genetics Market is valued at US$ 1,246.33 Million in 2022, it is projected to reach US$ 1,868.11 Million by 2028.
As per our report Asia Pacific Animal Genetics Market, the market size is valued at US$ 1,246.33 Million in 2022, projecting it to reach US$ 1,868.11 Million by 2028. This translates to a CAGR of approximately 7.0% during the forecast period.
The Asia Pacific Animal Genetics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Animal Genetics Market report:
The Asia Pacific Animal Genetics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Animal Genetics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Animal Genetics Market value chain can benefit from the information contained in a comprehensive market report.
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