Animal Genetics Market Projected to Reach $9.37 Billion by 2031
The global animal genetics market is forecast to reach $9.37 billion by 2031, growing from $6.64 billion in 2026 at a compound annual growth rate of 7.1%. This is according to a new report by MarketsandMarkets™.
Delray Beach, Florida – The animal genetics market is projected to reach a value of $9.37 billion by 2031, up from $6.64 billion in 2026. The market is expected to grow at a compound annual growth rate (CAGR) of 7.1% during the forecast period, according to a new report by MarketsandMarkets™.
The growth is attributed to factors such as increasing demand for improved animal products, advancements in animal healthcare, and rising awareness regarding the benefits of genetic tools in livestock breeding and pet genetics. These trends are shaping the development and adoption of new genetic technologies.
The report highlights key technologies driving market expansion, including Genome-Wide Association Studies (GWAS) and genome sequencing. These techniques enable more precise genetic profiling and the optimization of breeding strategies for enhanced animal health and productivity.
MarketsandMarkets™ has published an extensive analysis covering 445 market data tables and 58 figures. The report provides detailed insights into the market dynamics, competitive landscape, and future outlook for the animal genetics sector worldwide.