Agrigenomics Market Size, Share, Analysis, Trends, Growth Report, 2030

Agrigenomics Industry Prospective:

The global agrigenomics market size was evaluated at $7 billion in 2022 and is slated to hit $11 billion by the end of 2030 with a CAGR of nearly 8.35% between 2023 and 2030.

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Agrigenomics Market: Overview

Agrigenomics is the study of the genetic structure of plants and explains as to how the genes contribute to crop yield. Furthermore, the launching of microarray and next-generation sequencing technologies are helping plant breeders and research institutes in assessing as well as predicting genetic merit in plants, helping breeders in making key decisions about selection as well as cross-breeding of plants to get more food yield of high quality. In addition to this, agrigenomics aims to provide a thorough understanding of crop yield optimization, pest control, disease resistance, plant evolution, phylogenetic relationships, and food and biofuel optimization to farmers and people associated with agricultural activities.

Key Insights

• As per the analysis shared by our research analyst, the global agrigenomics market is projected to expand annually at the annual growth rate of around 8.35% over the forecast timespan (2023-2030)
• In terms of revenue, the global agrigenomics market size was evaluated at nearly $7 billion in 2022 and is expected to reach $11 billion by 2030.
• The global agrigenomics market is anticipated to grow rapidly over the forecast timeline owing to the surging use of agrigenomics in daily farming activities along with an increase in funding of DNA/RNA sequencing projects.
• In terms of sequencer type, the Illumina HiSeq family segment is slated to register the highest CAGR over the analysis period.
• Based on application, the crops segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the Asia-Pacific agrigenomics industry is projected to register the fastest CAGR during the assessment timeline.

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Agrigenomics Market: Growth Factors

Large-scale demand for agrigenomics in agriculture activities will boost the global market expansion over 2023-2030

Surging use of agrigenomics in daily farming activities along with an increase in funding of DNA/RNA sequencing projects will drive the global agrigenomics market growth in the coming years. Technological breakthroughs in farming and genomics will steer the expansion of the market globally. Surge in the food intake with the surging population along with demand for upgraded technologies in farming to get more crop yield is predicted to enlarge the scope of the global market in the coming years.

An increase in the research activities pertaining to farming activities will spearhead the growth of the market across the globe. A prominent increase in the demand for food owing to the surging global population along with the availability of less arable land for cultivating crops will further boost the global market trends. Strategic partnerships have favorably leveraged the growth of the market across the globe and will continue to do so even in the foreseeable future. For instance, in the first half of 2023, Tecan Corporation entered into a strategic alliance with MagicPrep NGS system to develop new gene sequencing prototypes for its G4 sequencing tools.

Agrigenomics Market: Restraints

Surging prices of automated systems to hinder global industry expansion in the coming years

Less use of automated systems in agrigenomics owing to low budget allocation can hinder the global agrigenomics industry expansion. High costs of automated technologies have impacted their use in agrigenomics across emerging economies, thereby curtailing the growth of the industry across the globe.

Agrigenomics Market: Opportunities

Rise in the need for food safety and nutritious diets to embellish the global market expansion

Growing demand for food safety along with increasing its nutritive value will open new avenues of growth for the global agrigenomics market in the coming years. Massive need for genomic information on livestock, fisheries, and crops will further spur the global market surge.

Agrigenomics Market: Challenges

Government restrictions on use of applied genomics in agriculture will put brakes on the global industry surge

Technological restrictions implemented by various governments across the globe on the utilization of applied genomics in farming activities can further challenge the growth of the agrigenomics industry globally.

Agrigenomics Market: Segmentation

The global agrigenomics market is sectored into sequencer type, application, and region.        

In sequencer type terms, the global agrigenomics market is segregated into Sanger sequencing, SOLiD sequencer, Illumina HiSeq family, and PacBio sequencer segments. Furthermore, the Illumina HiSeq family segment, which gathered nearly three-fifths of the global market revenue share in 2022, is projected to register the highest CAGR in the upcoming years. The growth of the segment in the forecasting timespan can be owing to its ability to identify genetic mutations that have a huge influence on crop features such as enhanced crop quality, disease resistance, and improved output.

Based on the application, the global agrigenomics industry is sectored into crop and livestock segments. Moreover, the crops segment, which garnered a huge chunk of the global industry share in 2022, is projected to lead the global industry over the analysis timeline. The segmental expansion over the assessment period can be subject to a rise in the use of next-generation sequencing tools and genotyping for studying a slew of crop species along with gaining an understanding of their genetic makeup.

Agrigenomics Market: Report Scope

Agrigenomics Market: Regional Insights

North America is anticipated to retain dominating position in the global agrigenomics market over the anticipated timeline

North America, which contributed about three-fourths of the global agrigenomics market revenue in 2022, will be a leading region over the projected timeframe. Furthermore, regional market growth can be subject to rise in the presence of giant firms in countries such as the U.S. and Canada. Furthermore, massive use of molecular breeding and sequencing in food & beverages and farming sectors in countries such as the U.S. and Canada.

Asia-Pacific agrigenomics industry is set to register the fastest CAGR in the forthcoming years owing to the rise in the food demand as a result of the rapidly increasing population. In addition to this, the large-scale need for new technologies in farming activities for improving crop yield will further boost the regional industry trends.

 Agrigenomics Market: Competitive Space

The global agrigenomics market profiles key players such as:

• Affymetrix
• Thermo Fisher Scientific
• Genotypic Technology Pvt Ltd
• Agilent Technologies
• SciGenom Labs
• Biogenetic Services
• Edico Genome
• Eurofins Scientific
• GalSeq Srl
• Illumina
• LGC Limited
• Tecan
• Zoetics

The global agrigenomics market is segmented as follows:

By Application

• Crops
• Livestock

 By Sequencer Type

• Sanger Sequencing
• SOLiD Sequencer
•  Illumina HiSeq Family
• PacBio Sequencer

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa