Global Aquaculture Genomics, Genetics, and Breeding Market:
The global aquaculture genomics, genetics, and breeding market estimated to be valued US$ 410.2 Mn in 2018 and projected to grow at significant CAGR over 2019-2025 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.
Genetics and Breeding segment is expected to grow at highest CAGR over the forecast years
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.
Europe Accounts the Larger Market Revenue Share in Global Aquaculture Genomics, Genetics, and Breeding Market
Europe accounted for larger revenue share in the global market with significant CAGR owing presence of more number of market players in the Norway region and advancements in genomic sequencing and genetics and breeding in the region. Chile aquaculture genomics, genetics and breeding market is expected to grow with a significant CAGR over the forecast period owing to entry of new market players in the region by strategic acquisitions and collaborations with the local players to strengthen their position and diverse their breeding and genetics division in Chile. For instance, in 2018, Benchmark and Aqua Chile announced that both the companies had a deal to form joint venture (JV) to combine the leading edge technology in salmon genetics and genomics.
- Hendrix Genetics
- AquaBounty Technologies, Inc.
- Benchmark Genetics, (A Benchmark Holdings Plc. Company)
- 4C’s Breeding Technologies Inc.
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.
Key Findings of the Report:
- Global aquaculture genomics, genetics, and breeding market expanding at significant CAGR over 2019 to 2025 owing to rising advances in sequencing technologies and genomics.
- Based on service type, genetics and breeding segment of aquaculture genomics, genetics, and breeding accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on launch of newer products and collaboration strategies to retain market position in global aquaculture genomics, genetics, and breeding market
Global aquaculture genomics, genetics, and breeding market report gives comprehensive outlook on aquaculture genomics, genetics, and breeding across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report on global aquaculture genomics, genetics, and breeding market gives historical, current, and future market sizes (US$ Mn) on the basis of service type, species type, and region. This 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 global aquaculture genomics, genetics, and breeding market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the market include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global aquaculture genomics, genetics, and breeding products.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Service Type
- Genetics & Breeding
By Species Type
- Rest of Europe
- Australia & New Zealand
- Rest of Asia-Pacific
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA