- Genetics & Breeding
Aquaculture Genomics Genetics And Breeding Market size was valued at USD 410.2 million in 2021 and growing at a CAGR of x% during the forecast period 2022-2028.Â owing to advances in sequencing technologies, reduction in cost of genome sequencing coupled with rising global population and increasing demand for seafood coupled with the extinct of salmon and other aquaculture species drives the growth of the market. Moreover, growing demand for protein rich seafood and increasing consumption of per capita income of seafood plays significant role in the growth of the aquaculture genomics, genetics, and breeding market. However, challenges such as FDA approval for genetically engineered salmon hinders the growth of the market. The market is surging owing to expansion through strategic acquisitions and definitive agreements to strengthen their position in the market. For instance, in 2016, Benchmark Holdings plc has expanded its breeding and genetics offering through the acquisition of a South American shrimp breeding programme. Hawaii shrimp breed companies are the major exporters that worth more than 50% of the farmed shrimp production. The report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Fastest Growing Market
Based on service type, Genetics and breeding segment has the highest market share in the market owing to rising global demand for seafood and growing global population coupled with the extinct of the various aquaculture species. Moreover, Reduction of cost for genome sequencing and advances in genome sequencing technologies are expected to fuel the growth of the market over the forecast period.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.