Press Release

Agrigenomics Market to Grow with a CAGR of 8.68% through 2028

Technological advancements in sequencers technology and growing demand for genomic databases by livestock breeders is expected to drive the Global Agrigenomics Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Agrigenomics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Agrigenomics Market stood at USD 3.75 Billion in 2022 and is anticipated to grow with a CAGR of 8.68% in the forecast period, 2024-2028. The global agrigenomics market is driven by several key factors. The rising global population and the accompanying demand for increased food production is a significant driver. Advancements in genomic technology, including next-generation sequencing and high-throughput genotyping, are facilitating rapid, accurate crop and livestock analysis, boosting market growth.

The escalating need for sustainable agriculture practices and the desire to enhance crop quality and yields are propelling the use of agrigenomics. Government initiatives and funding in agricultural research are further supporting the growth of this market.

 

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The global agrigenomics market is experiencing significant growth due to rapid technological advancements and the increasing demand for high-quality agricultural products across the globe. This market encompasses a wide range of services, including genotyping, gene expression profiling, marker-assisted selection, GMO/Trait Purity, and many more, catering to the diverse needs of farmers and agricultural stakeholders. Both developed and developing countries are heavily investing in agrigenomics technologies to enhance their agricultural productivity and sustainability. With the world's population continuously growing, the need for food security is becoming even more critical. As a result, the demand for advanced agrigenomics solutions is on the rise, empowering farmers to optimize crop yields, improve disease resistance, and enhance overall plant performance. By leveraging cutting-edge genetic tools and techniques, the agrigenomics industry is paving the way for more efficient and sustainable agricultural practices.

Furthermore, the global agrigenomics market is projected to maintain its upward trend in the foreseeable future. As new innovations emerge and research continues to unravel the complexities of plant genetics, the potential for further advancements in this field is immense. The integration of agrigenomics into mainstream agricultural practices holds great promise for addressing global food challenges and ensuring a more resilient and secure food supply chain. The thriving agrigenomics market plays a crucial role in shaping the future of agriculture, offering a wide array of services that contribute to improved crop quality, enhanced productivity, and sustainable farming practices. With the ongoing advancements in agrigenomics, we can expect to witness transformative changes in the global agricultural landscape. These developments will not only allow us to overcome the challenges of feeding a growing population but also ensure the long-term sustainability of our planet.

By delving deeper into the genetic makeup of plants, agrigenomics enables us to unlock valuable insights about their traits, disease resistance, and nutritional value. This knowledge empowers farmers and breeders to make informed decisions, leading to the development of superior crop varieties that are better adapted to changing environmental conditions. Moreover, agrigenomics facilitates precision agriculture, allowing farmers to optimize their resource utilization, reduce waste, and minimize the environmental impact of their practices.

In addition, the application of agrigenomics in crop breeding and improvement opens up new avenues for innovation. By leveraging cutting-edge technologies such as gene editing and genomic selection, researchers can accelerate the development of high-yielding and resilient crop varieties. This not only benefits farmers but also contributes to global food security by ensuring a more stable and abundant food supply. The potential of agrigenomics is vast. It holds the key to unlocking sustainable solutions for feeding the world's growing population while preserving our natural resources. By harnessing the power of genetics and genomics, agrigenomics paves the way for a future where agriculture is more resilient, efficient, and environmentally friendly. With continued investment in research and collaboration between academia, industry, and policymakers, we can unleash the full potential of agrigenomics and usher in a new era of sustainable agriculture.

The Global Agrigenomics Market is segmented into purpose, sequencer type, application, regional distribution, and company.

Based on sequencer type, the Illumina HI SEQ Family has established its dominance in the Global Agrigenomics Market through its exceptional high-throughput sequencing capabilities and unparalleled accuracy in delivering results. These advanced sequencers not only offer a wide range of applications, including genotyping and whole-genome sequencing, but also play a pivotal role in driving research and development activities within the agrigenomics sector. Their ability to provide detailed insights into the genetic makeup of various agricultural organisms has revolutionized the field, enabling scientists and researchers to make significant advancements in crop improvement, disease resistance, and sustainable agricultural practices. With their cutting-edge technology and innovative solutions, the Illumina HI SEQ Family continues to shape the future of agrigenomics and contribute to the global efforts in ensuring food security and sustainable agricultural development.

Based on region, North America holds a dominant position in the global agrigenomics market due to a combination of factors. These include the presence of advanced agricultural technologies, such as precision farming techniques and automated machinery, which have revolutionized farming practices in the region. Additionally, North America boasts robust research and development infrastructures, with world-class universities and research institutions dedicated to advancing genomics-based research in agriculture.

Moreover, substantial government support for genomics-based research initiatives has further bolstered North America's position in the agrigenomics market. Governments at various levels provide funding, grants, and incentives to promote innovation in genomics and agricultural sciences. This support enables researchers to explore new frontiers in crop improvement, disease resistance, and sustainable farming practices. Furthermore, North American farmers have shown high adoption rates of innovative agricultural solutions, embracing genomics-based technologies to optimize crop yields, improve livestock health, and enhance overall farm productivity. This widespread adoption has not only accelerated the application of genomics in agriculture but also created a conducive environment for further research and development. Considering these factors, it is evident that North America's dominance in the global agrigenomics market is well-founded and poised for continued growth in the years to come.

 

Major companies operating in Global Agrigenomics Market are:

  • Illumina, Inc.
  • Thermo Fischer Scientific, Inc.
  • Agilent Technologies, Inc.
  • Eurofins Scientific SE
  • LGC Limited
  • Tecan Genomics, Inc.
  • Neogen Corporation
  • Galseq Srl Via Italia
  • Biogenetic Services' Inc.

 

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“The future of the Global Agrigenomics Market appears incredibly promising, with expectations of significant growth. This sector is likely to experience a surge, powered by technological advancements in genomic research and an increasing global demand for high yield crops. With the world's population projected to reach 9.7 billion by 2050, the pressure on agricultural productivity is immense. Agrigenomics, with its DNA sequencing and genotyping technologies, is poised to revolutionize the way we understand plant and animal genomes, leading to more resilient, nutritious, and sustainable crops. Furthermore, the implementation of agrigenomics offers potential solutions to key global challenges such as climate change and food security, propelling its importance in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Agrigenomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Purpose (DNA Extraction & Purification, DNA/RNA Sequencing, Genotyping, Gene Expression Profiling, GMO/Trait Purity Testing, Others), By Sequencer Type (Sanger Sequencing, Pacbio Sequencers, Solid Sequencers, Illumina HI SEQ Family, Others), By Application (Livestock and Crops), By Region and Competition”, has evaluated the future growth potential of Global Agrigenomics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Agrigenomics Market.

 

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