Plant Genomics Market Size, Share, Analysis, Trends, Growth Report, 2032

Global Plant Genomics Market Insights

According to a report from Zion Market Research, the global Plant Genomics Market was valued at USD 9.63 Million in 2023 and is projected to hit USD 16.94 Million by 2032, with a compound annual growth rate (CAGR) of 6.48% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Plant Genomics industry over the next decade.

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The report offers a valuation and analysis of the Plant Genomics Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, sales estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2018 to 2023 along with a forecast from 2023 to 2032 based on value (USD Billion).

Global Plant Genomics Market Drivers

The market drivers for the Plant Genomics Market can be influenced by various factors. These may include:

• Growing Need for Food Security: As the world’s population expands, so does the need for food production. In order to increase food security, plant genomics is essential for creating crops that are more resilient to diseases, pests, and environmental challenges.
• Developments in Genomic Technologies: The understanding of plant genomes has been greatly enhanced by the ongoing development of genomic technologies, including next-generation sequencing (NGS), CRISPR/Cas9 gene editing, and bioinformatics tools. As a result, novel genetic markers and agricultural improvement methods have been created.
• Challenges Affected by Climate Change: Unpredictable weather patterns, droughts, floods, and other environmental issues have been brought about by climate change and have an impact on crop productivity. The goal of plant genomics research is to create crops that are tolerant to climate change and can flourish in a changing environment.
• Biotechnological advancements: The creation of genetically modified (GM) crops with improved features, such as greater yield, enhanced nutritional value, and herbicide tolerance, has been hastened by the combination of biotechnological advancements with plant genomes.
• Government Funding and Initiatives: To address issues with food security and climate change, increase crop yields, and support agricultural sustainability, a number of governments and organizations are allocating funds for plant genomics research. Innovation in this industry is encouraged by regulatory frameworks and funding support.
• Growing development of Precision Agriculture: The demand for genetically modified crop varieties created through plant genomics research is being pushed by the development of precision agriculture practices, which use data-driven technologies to optimize crop production.
• Growing Knowledge of Sustainable Agriculture Policymakers, farmers, and consumers are becoming more conscious of the significance of sustainable agricultural methods. Through resource conservation, crop resilience, and reduced pesticide usage, plant genomics supports sustainable agriculture.
• Collaborative Research and Partnerships: Knowledge sharing, technology transfer, and the creation of novel solutions in plant genomics are facilitated by cooperative efforts among research institutes, universities, biotechnology businesses, and agricultural organizations.

Global Plant Genomics Market Restraints

Several factors can act as restraints or challenges for the Plant Genomics Market . These may include:

• High Costs: For smaller research institutes and businesses, the initial outlay necessary to establish genomics research facilities, buy equipment, and carry out tests can be significant.
• Limited money: Plant genomics research and development projects may not have as much money as they would otherwise, particularly in nations or areas where there is less investment in scientific research or innovative agriculture.
• Challenges related to ethics and regulations: Research on genomes, particularly that which involves genetically modified organisms (GMOs), may encounter ethical discussions and regulatory obstacles that impede its advancement and eventual commercialization.
• Data Security and Privacy Issues: Gathering, storing, and analyzing vast volumes of genomic data presents issues with data security and privacy as well as the possibility of genetic information being misused, which makes regulatory compliance difficult.
• Complexity and Scale: Research in genomics requires specialized knowledge and resources due to the large number of complicated datasets, methods, and analyses involved. Agricultural research can be difficult to scale up to real-world applications because biological systems are complicated
• Public Perception: The acceptability and perception of genetically modified crops and gene editing techniques by the general public can have an impact on market acceptance and regulatory decisions, which in turn can affect the rate of plant genomics innovation and commercialization.
• Environmental and Societal Implications: The expansion of the market may be hampered by cautious methods and regulatory scrutiny brought on by worries about the effects on the environment, biodiversity, and possible unforeseen repercussions of genetic alterations in plants.

Plant Genomics Market: Growth Drivers

Plant genomics is the domain whose key objective is to sequence, describe, and study the gene composition, function, and structure as well as the network of a complete plant genome. Moreover, an array of applications of genomics in plant breeding & genetic resource preservation are a few of the methods that are catching the attention of professional researchers and this will steer the growth of the plant genomics market over the forecast period.

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Our report also provides the current developments taking place in the industry along with the competitive moves & strategies adopted by the market players to expand their business. Let us discuss some of the reputed brands in the plant genomics industry.

NRGene

In the second week of January 2020, NRGene, a leading genomic big data organization, announced the launching of joint sequencing-based genotyping services referred to as ArrayMAGIC at the Plant & Animal Genome conference in San Diego, U.S. Sources have cited that the new service offering will give ultra-high-density SNP (single nucleotide polymorphism) genotyping services at low-costs. This, in turn, is expected to make the technology available for a gamut of applications in farming activities.

In August 2023, NRgene declared the introduction of DeNovoMax, an improved version of the flagship product DeNovoMAGIC. Reportedly, the key objective of launching DeNovoMax is to improve crop breeding as well as crop yield in agriculture. Sources cite that the new product is predicted to be offered to popular homozygote species including tomato, corn, wheat, cotton, tobacco, soybean, sunflower, and pepper.

Global Plant Genomics Market: Segmentation

The study provides a decisive view of the plant genomics by segmenting the market based on by type, by Trait, by objective, by Application and by Region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on type, the market is segmented into Genetic Engineering and Molecular Engineering. Apparently, the molecular engineering segment is predicted to grow rapidly over 2019-2025 due to the acceptance of molecular plant engineering techniques across the countries like the U.S., the UK, France, Holland, and Germany.

On the basis of trait, the industry is segregated into Yield Improvement, Herbicide Tolerance, Disease Resistance, and Others. Furthermore, the herbicide tolerance segment is set to contribute majorly towards the overall market growth by 2032 due to the growing proportion of pest attacks & strict laws concerning the use of chemicals that can prove harmful to crops while destroying weeds.

Application-wise, the plant genomics industry is sectored into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Others. The cereals & Grains segment is anticipated to dominate the application landscape over the forecast period.

In terms of objective, the market for plant genomics is divided into Sequencing, Genotyping, Gene Expression, MAS, Extraction, Gene Expression, and GMO-trait Purity Testing.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Plant Genomics Market: Report Scope

Agilent Technologies

Agilent Technologies, a behemoth player in life sciences, diagnostics, & applied chemical industries, launched a new product in the last week of January 2020. The new product referred to as SureSelect XT HS2 DNA Kit is designed to offer solutions to the problems faced by researchers in the preparation of DNA sequencing libraries for their research activities in labs. Reports cite that the new product will help in reducing DNA sequencing costs for high throughput laboratories along with the removal of sample clutter due to the hopping of indexes from reads.

Plant Genomics Market: Competitive Space

Key players profiled in the report include

• Agilent Technologies
• Illumina, Inc.
• Eurofins Scientific
• NRGene.

The global plant genomics market is segmented as follows:

By Type

• Molecular engineering

• Genetic engineering

By Trait

• Yield improvement

• Disease resistance

• Herbicide tolerance

• Others (insect resistance and abiotic stress tolerance)

By Objective

• Extraction

• Sequencing

• Genotyping

• Gene expression

• Marker-assisted selection (MAS)

• GMO-trait purity testing

By Application

• Cereals & grains

• Oilseeds & pulses

• Fruits & vegetables

• Others (sugar crops, ornamentals, and alfalfa)

By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa