Agrigenomics Market Overview
Agrigenomics refers to the application of genomics in agriculture, focused on improving the productivity and sustainability of crops and livestock. By harnessing genetic technologies, agrigenomics helps reduce the number of trials and failures in research, ultimately enhancing agricultural yields. This field links genetic features to desirable traits, allowing the development of hybrids with superior characteristics. As the global agricultural sector continues to innovate, agrigenomics is positioned to play a critical role in food security, crop improvement, and livestock breeding.
Market Scope
The global Agrigenomics market was valued at USD 3.97 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2030, reaching nearly USD 7.59 billion by 2030. The market’s growth is propelled by advancements in genomic technologies, increasing demand for food security, and rising investment in research and development within the agricultural sector.
Market Drivers
Several factors are contributing to the expansion of the Agrigenomics market:
- Population Growth and Agricultural Demand: The exponential rise in global population heightens the demand for food, which drives the need for enhanced agricultural productivity.
- Technological Advancements: Advances in sequencing technologies, such as high-throughput systems and CRISPR, are accelerating research and application of genetic techniques in agriculture.
- Government Support and Research Funding: Governments are increasingly investing in agricultural genomics research to boost food production and ensure sustainable farming practices.
- Environmental Sustainability: Agrigenomics helps reduce dependency on harmful pesticides and fertilizers by developing genetically resistant crops, contributing to sustainable agricultural practices.
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Market Trends
Key trends shaping the Agrigenomics market include:
- Gene Editing: The adoption of CRISPR and other gene-editing technologies is revolutionizing the way genetically modified organisms (GMOs) are developed, ensuring crops and livestock are more resistant to diseases and environmental stress.
- Precision Agriculture: Precision farming techniques, powered by genomics, are enabling farmers to optimize inputs, increase crop yield, and reduce environmental impact.
- Integration of Genomics with Biotechnology: The growing collaboration between the biotechnology and agrigenomics sectors is fostering innovations in genetic improvements for crops and livestock.
- Data-Driven Agriculture: With the increasing availability of genomic data, there is a shift towards data-driven decision-making in crop breeding and livestock management.
Market Segmentation
The Agrigenomics market is segmented based on sequencer type, objective, and application:
- By Sequencer Type:
- Sanger Sequencing
- Illumina HiSeq Family
- PacBio Sequencers
- Solid Sequencers
- Other Sequencer Types
- By Objective:
- DNA Extraction & Purification
- DNA/RNA Sequencing
- Genotyping
- Gene Expression Profiling
- Marker-Assisted Selection
- GMO/TRAIT Purity Testing
- Other Objectives
- By Application:
- Crops: This segment is expected to witness rapid growth due to advancements in gene editing technologies and the increasing adoption of CRISPR for developing disease-resistant crops.
- Livestock: Genotyping and genetic research in livestock are key areas driving this segment, helping to improve breeding practices and disease resistance.
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Regional Analysis
- North America: Dominates the Agrigenomics market, with significant contributions from the U.S., Canada, and Mexico. The region’s strong focus on R&D, innovation in genomic technologies, and government support for sustainable farming practices ensure its leadership in the market.
- Europe: The European market is experiencing steady growth, driven by the increasing adoption of precision farming and sustainable agricultural practices.
- Asia Pacific: This region is poised for significant growth, especially in countries like China, India, and Japan, due to growing agricultural demand and advancements in genomic research.
- Middle East and Africa: Countries in the Middle East and Africa are gradually adopting agrigenomics technologies to improve agricultural productivity and manage water resources more efficiently.
- South America: The Agrigenomics market in South America is expanding, with Brazil leading the way in agricultural research and genetic improvement of crops and livestock.
Key Players
Key players in the Agrigenomics market include:
- Thermo Fisher Scientific LLC
- Affymetrix Technologies
- Eurofins Scientific
- Agilent Technologies Inc.
- LGC Limited UK
- Zoetis Inc.
- Illumina Inc.
- Genotypic Co Ltd
- Sci Genom Labs Private Limited
- Neogen Corporation
- GalSeq SRL
- Biogenetic Services Inc.
Key Questions Answered
- What is the projected growth rate of the Agrigenomics market from 2024 to 2030?
- What are the key drivers contributing to market expansion in the agricultural genomics sector?
- Which applications of agrigenomics are expected to dominate in the future?
- How are advances in sequencing technologies influencing the market?
- What are the regional dynamics and growth opportunities in the Agrigenomics market?
Conclusion
The Agrigenomics market is set for substantial growth, driven by advancements in genomic technologies, rising demand for food security, and government support for agricultural innovation. With continuous research and development in genomic technologies and growing adoption of gene editing techniques, the market is poised to revolutionize global agriculture, improving productivity and sustainability.
For further insights and detailed analysis, please refer to the complete market report:https://www.stellarmr.com/report/Agrigenomics-Market/396
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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