The global market for animal genetics is expected to witness a heavy growth in the near future. Growing consumption of protein extracted from the animals is expected to act as a key driving factor for the overall development of the global animal genetics market. In addition to this, growing population has been creating a huge demand for animal-based protein in recent years. This too has been working in favor of the development of the global market.
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Among its five regional segments, the global animal genetics market is currently dominated by the region of North America. The growth of the regional segment is primarily attributed to the presence of several notable companies operating in in the region. Moreover, the growing development and advancements in the field of livestock farming is also expected to help in the development of the North America segment of the global animal genetics market.
Some of the key insights of the competitive landscape of the global animal genetics market are given below:
- The competitive landscape of the global animal genetics market is fragmented one due to the presence of several key players. The leading companies in the global animal genetics market are striving to outpace their rivals. Thus, the competition in the global market is extremely high.
- These companies in the global market are also adopting aggressive marketing strategies such as takeover, mergers, and joint ventures in order to stay ahead of the competitive curve.
- In February 2019, Hendrix Genetics BV, a notable name in the global animal genetics market, announced that the company has successfully taken over 80% of stakes in Macrobio SA, an Ecuador based company. Macrobio SA is shrimp farm from the Moxley Corporation SA. This move by Hendrix Genetics is expected to improve its overall product portfolio in the global market.
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