SAN FRANCISCO, March 3, 2022 /PRNewswire/ -- The global veterinary artificial insemination market size is anticipated to reach USD 7.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 6.5% from 2022 to 2030. The key factors driving the market growth include increasing consumption of animal protein, growing demand for livestock productivity, and adoption of sexed semen. In September 2021, LIC- an agritech co-operative based in New Zealand launched a sexed semen lab in the country to meet the growing demand. This boosted the co-operative's capabilities to artificially inseminate about 4.5 million cattle between Spring mating season of September to December 2021.
Key Insights & Findings from the report:
The market was valued at USD 4.2 billion in 2021 and is expected to expand at a CAGR of 6.5% during the forecast period.
- By animal type, the cattle segment held the largest share of the market in 2021 owing to rising consumption of beef, milk, and milk products.
- The swine segment is projected to grow the fastest owing to the rising adoption of AI techniques and growing consumption of pork in key markets.
- The normal semen segment accounted for the largest revenue share in the products segment in 2021, owing to the low cost of the product compared to sexed semen and wide availability.
- The sexed semen segment is expected to show the fastest growth during the forecast period. In 2016, ST Genetics produced 4 million X chromosomes into an AI straw. The company sells sexed semen for five species of animals, including cattle, deer, sheep, horses, and goats. The rate of semen straws ranges between USD 65 and USD 250 for apiece as of 2018, depending on the quality, species, and use of the animal.
- The animal husbandry segment accounted for the largest revenue share in 2021 and is expected to maintain its dominance throughout the forecast period. The growth can be attributed to most semen collection as well as artificial insemination procedures performed on-site on farms.
- North America dominated the market in 2021 while Asia Pacific is anticipated to grow the fastest in the coming years.
Read 140-page market research report, "Veterinary Artificial Insemination Market Size, Share & Trends Analysis Report By Animal Type (Cattle, Swine, Ovine & Caprine, Equine), By Product (Normal Semen, Sexed Semen), By End-user, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Veterinary Artificial Insemination Market Growth & Trends
The COVID-19 pandemic resulted in many challenges including dampened growth, decreased sales and marketing activities, supply chain hurdles, and delay in delivery of AI services. The erratic and uncertain consumption patterns in several key markets exacerbated by sporadic lockdowns and logistical bottlenecks further increased the uncertainty in the market. The growth was also dampened by other factors such as the African Swine Fever. Genus for instance, reported labor shortages, adverse impact on retail food service demand and meat packing capacity, and international logistics delays due to the pandemic. The company indicated that in near-term, feed input costs, ASF, and COVID-19 implications would continue to exert pressure on the global porcine industry, in particular in China and Europe. In North America, the pandemic led to packing plant slowdowns during H1 of 2021.
To fulfill the continuously increasing demand for meat and dairy products, market players are expanding artificial insemination solutions to breed high-quality livestock and enhance production. For example, in August 2020, Cogent with AB Europe launched a novel sexed semen service for the U.K. sheep producers. Developing regions such as Latin America are also contributing to the growth of the market for veterinary artificial insemination. For instance, Brazil, one of the major countries in the region has been adopting AI increasingly for the past decade. The country has also deployed Fixed-time Artificial Insemination (FTAI) techniques to increase profitability and success rate. According to the Brazilian Association of Artificial Insemination (Asbia) from January to September 2018, 306,052 doses of national sexed semen were marketed for beef and dairy cattle while it reached 503,078, an increase of 30.83% in 2020.
According to the Food and Agriculture Organization (FAO) publication 2019, livestock contributed almost 40% of the global value of agricultural output in developed countries and 20% in developing ones, and it provides food security and livelihood to more than 1.3 billion people worldwide. Increased adoption of artificial insemination procedures in cattle, rising milk consumption, and production of beef are other factors responsible for the significant growth of the market. For instance, according to data published by the UN FAO in 2018, beef and buffalo production increased from 69.56 million tons in 2017 to 71.61 million tons in 2018. Furthermore, the rising consumption of milk and milk products is positively impacting the market growth.
Favorable government regulations, intended to improve productivity, are also leading to growth; For instance, the Indian government approved an Agriculture Export Policy in 2018 to enhance agricultural economic growth in the nation. The new policy is aimed at boosting India's agricultural output to USD 60.0 billion by 2022 and USD 100.0 billion with a predictable foreign policy framework in the next few years.
Veterinary Artificial Insemination Market Segmentation
Grand View Research has segmented the global veterinary artificial insemination market on the basis of animal type, product, end-user, and region:
Veterinary Artificial Insemination Animal Type Outlook (Revenue, USD Million, 2017 - 2030)
- Ovine & Caprine
Veterinary Artificial Insemination Product Outlook (Revenue, USD Million, 2017 - 2030)
- Normal Semen
- Sexed Semen
Veterinary Artificial Insemination End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Animal Husbandry
Veterinary Artificial Insemination Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
List of Key Players of the Veterinary Artificial Insemination Market
- URUS Group LP
- Viking Genetics
- Select Sires Inc.
- Swine Genetics International
- Shipley Swine Genetics
- Stallion AI Services Ltd
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- Veterinary Imaging Market - The global veterinary Imaging market size is expected to reach USD 3.3 billion by 2026, according to a new report by Grand View Research, Inc. Expanding at a CAGR of 6.8% over the forecast period. The veterinary medicine field experienced immense technological developments in the last 20 years.
Browse through Grand View Research's Animal Health Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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