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Pet DNA Testing Market Report 2024: Industry Analysis and Forecast (2018-2030) with Share & Strategy Insights of Leading Players - Zoetis (Basepaws), Mars Petcare (Wisdom Panel), Orivet Genetic Pet Care & More
Ginkgo Bioworks Ginkgo Bioworks (US:DNA) GlobeNewswire News Roomยท2024-10-15 12:04

Market Overview - The global pet DNA testing market is projected to reach USD 676.64 million by 2030, growing at a CAGR of 9.45% from 2024 to 2030 [1][12] - The U.S. pet industry expenditure increased from USD 103.6 billion in 2020 to USD 123.6 billion in 2021, marking a 19% growth [2] Growth Drivers - Key factors driving market growth include rising consumer genomics, high pet expenditure, increased awareness of pet DNA testing products, and more R&D initiatives [2][7] - The COVID-19 pandemic led to a surge in pet adoption and spending, with owners investing more time and money in their pets [3][4] Market Segmentation - The dogs segment accounted for the largest revenue share in 2023 due to high dog adoption rates in the U.S. [9] - Saliva sample tests are the most popular, holding the largest share in 2023 [9] - Genetic diseases testing is a significant segment, with genetic DNA profiling becoming a standard in breeding programs [9] Regional Insights - North America held the largest revenue share in 2023, while the Asia Pacific region is expected to grow at the fastest CAGR from 2024 to 2030 [9] Competitive Landscape - Major players in the pet DNA testing market include Zoetis Inc., Mars Petcare, Orivet Genetic Pet Care Limited, and Embark Veterinary, Inc. [9]