Animal Artificial Insemination Market Will Escalate Rapidly in the Near Future
According to Future Market Insights (FMI) analysis, demand for animal artificial insemination is expected to rise considerably, enabling the animal artificial insemination market to surpass US$ 2.0 Bn in valuation by the end of 2021. Rising initiatives by various governments worldwide to ensure food security are expected to sustainably drive demand for artificial insemination in animals.
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According to Future Market Insights (FMI) analysis, demand for animal artificial insemination is expected to rise considerably, enabling the animal artificial insemination market to surpass US$ 2.0 Bn in valuation by the end of 2021.
Rising initiatives by various governments worldwide to ensure food security are expected to sustainably drive demand for artificial insemination in animals. Besides this, demand for genetically superior quality cattle breed will have a positive impact on the market.
Increasing consumption of animal protein and demand for high-quality milk and dairy products will fuel the demand for animal artificial insemination procedures between 2021 and 2031.
Global meat production has increased in the past several years and is estimated to increase from 218 million tons to 376 million tons by 2030. According to the Organization for Economic Co-operation and Development (OECD), the U.S. meat consumption was on average of 35kg per capita in 2020.
There also has been an increase in per capita consumption of milk and milk products. According to the OECD and FAO, in 2020, the global per capita dairy consumption of milk and dairy products was estimated at 113.7 kg. Also, it is estimated that this number is expected to increase by 44% by 2029.
The rise in consumption of animal proteins and milk products has made dairy farmers and livestock breeders to focus on obtaining genetically better breed for large-scale productions. This also is expected to boost the growth of the animal artificial insemination market.
Key Takeaways from Animal Artificial Insemination Market Study
- Despite restricted growth amid pandemic crisis, the demand for artificial insemination is expected to witness a small push and thus, is expected to rise nearly 5.4 % CAGR between 2021 and 2031.
- Growing awareness regarding animal health and growth in per capita animal expenditure are the key factors attributable for the rising demand of artificial insemination process.
- The U.S. accounted for the largest share of 93% of the North America animal artificial insemination market through the forecast period.
- In 2021, Germany led the Europe animal artificial insemination market, followed by France and U.K., accounting for more than 20% and 15 % respectively.
- China is the fastest-growing market in East Asia, exhibiting a 7.4% CAGR through 2031.
“Research and development initiatives by governments coupled with advancements in biotechnology and animal science will offer lucrative growth opportunities for animal artificial insemination market,” said a FMI Analyst.
Artificial insemination (AI) in animals has transitioned from being just a novel method to impregnate the female to be an advanced technique used for improving the livestock by protecting it from various infectious diseases.
Greater focus on innovation coupled with advancements in biotechnology to avoid animal diseases is expected to create a favorable platform for the development of artificial insemination products, especially, in high-income economies such as the U.S., U.K. Germany. Artificial insemination (AI), Embryo transfer (ET), in-vitro fertilization (IVF), and somatic cell nuclear transfer are some of the emerging technologies in this space.
Continued investments in research towards genetic improvements could improve the breeding quality of animals using artificial insemination procedures, hence providing opportunities for market growth.
Who is Winning?
The global market is set to expand due to the growing demand for animal services and the rising prevalence of animal diseases. To expand their product offerings, leading players within the market are focused on expanding by pursuing mergers, acquisitions and collaboration as one of their key growth strategies. Also, this would allow the key players to strengthen their presence in the region as well as global markets.
Some of the leading players in the global animal artificial insemination market include but are not limited to Boehringer Ingelheim, Elanco Animal Health, Zoetis Inc., Merck & Co., Inc., Swine Genetics International, Revival Animal Health Inc., Jorgensen Laboratories Inc., Agtech Inc., ABS Global, Inc., Continental Plastic Corporation, and IMV Technologies.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global animal artificial insemination market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the global animal artificial insemination market based on product type, animal type, and procedure type across seven major regions.
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