Comprehensive Analysis of Agri Genomics Industry, Market Segments, and Future Outlook

Agri Genomics Market Size and Forecast

Genomics is the application of genomic technologies in the agricultural industry to enhance crop and livestock production, optimize farm management, and improve the sustainability of farming systems. Now, it involves DNA sequencing (the process of determining the precise order of nucleotides within a DNA molecule), genetic engineering (the direct manipulation of an organism’s genes), molecular markers, and other biotechnologies to understand the genetic composition of plants,  animals, and microbes in agriculture. This has also led to the rapid growth of the agri genomics market in recent years, driven by the increasing demand for higher crop yields, disease-resistant plants, and more efficient animal breeding techniques.

The Global Agri Genomics Market is expected to grow from 2024 to 2030 due to factors such as the increasing adoption of biotechnology in agriculture, rising demand for food security among the global population, and growing emphasis on sustainable agriculture practices. Investors are also exploring new genomic research, which can be used to develop genetically modified crops that can withstand natural stressors such as drought or pests. Furthermore, precision farming technologies are being increasingly adopted, enabling farmers to make data-driven decisions based on genomic information. The agricultural sector is facing unprecedented pressure to feed a growing population while maintaining the planet’s sustainability — and, as such, embryonic agri genomics has the potential to shape its future.

Segmentation of the agri-genomics market encompasses crop genomics, animal genomics, and aquaculture genomics, with applications spanning from seed improvement to livestock breeding. This market will transform agricultural practices through innovations, including CRISPR gene editing technology and advancements in bioinformatics, leading to increased efficiency and sustainability.

According to analysts at Vantage Market Research, the Global Agri Genomics Market was valued at USD 3.4 billion in 2022 and is projected to reach USD 6.7 billion by 2030, growing at a 10.30% CAGR between 2023 and 2030, as stated in the report.

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Market Drivers

Several factors, including the increasing demand for food, the need for sustainable agricultural practices, and advancements in biotechnology, are primarily driving the growth of the agri-genomics market.

A primary driver of the agri-genomics market is the growth of the world population, which the United Nations reports will be 9.7 billion people by 2050. As the world’s population grows, the demand for food will increase, and the pressure on agricultural systems to produce more with less will intensify. This has led to an increase in demand for genetically modified crops that are yield-efficient, disease-resistant, and can survive adverse climate conditions. In response to the above challenges, agri genomics offers a solution, providing tools to optimize plant and animal breeding and enhance productivity.

Another important market driver is the need for sustainable farming practices. Focus: Conventional farming techniques heavily rely on pesticides, herbicides, and chemical fertilizers, which are associated with negative environmental impacts. As concerns about climate change continue to rise, agri genomics can offer a sustainable solution by designing pest-resistant crops, improving soil health, and reducing chemical input dependency.

The other key driver is the fast pace of technological innovation in genomics and biotechnology. Technological advances, such as next-generation sequencing (NGS), CRISPR-Cas9 gene editing, and bioinformatics tools, are streamlining and reducing the cost of analyzing and manipulating genetic material in plants and animals. The use of these transformative technologies has dramatically accelerated genetic improvement, providing farmers with more effective and efficient tools to enhance productivity and manage risk.

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Market Challenges

Although agri genomics shows great potential, several challenges can hinder its market growth. The regulatory climate surrounding genetically modified organisms (GMOs) poses a significant challenge. While agri-genomics has the potential to revolutionize agriculture, the approval of genetically modified crops and livestock will vary greatly between countries and regions. There is strong opposition to GMOs in certain regions, primarily due to concerns about potential health risks, environmental impact, and ethical considerations. Genomic-based agriculture is subject to regulatory uncertainty, which can hinder the commercialization of beneficial products and consequently prevent market expansion.

The cost of research and development in the agri-genomics field is also high, presenting another significant challenge. Even though genomic technologies, such as gene sequencing, have become increasingly economical as technologies in their own right over the years, it still costs millions of dollars to develop and commercialize a genetically modified crop or livestock. These costs can be prohibitive for small-scale farmers, who are often excluded from the benefits of agri-genomics. Additionally, genomic data can be complex to analyze, requiring specialized expertise and resources; therefore, it can be expensive for researchers and farmers.

There are also concerns about unintended consequences. Although genetic modifications can offer numerous benefits, they can also pose unforeseen environmental or health risks. Genetically modified crops, for instance, could breed with their wild relatives, giving rise to new species or changing ecosystems in unpredictable ways. This whole process can make agri-genomics adoption more challenging due to the need for thorough risk assessment and monitored execution.

Finally, public perception is a crucial determinant of the acceptance of agri-genomics. Consumer resistance to GMOs poses a significant challenge for regulators despite scientific evidence supporting their safety and benefits, particularly in the EU and other jurisdictions with stricter regulations for GMOs. Developing public acceptance for economic innovations in agriculture will be critical for market growth.

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Segment Overview

The agri-genomics market can be divided based on various factors. These segments encompass crop genomics, animal genomics, and aquaculture genomics, and their applications span the fields of plant and animal breeding, disease management, and environmental sustainability.

Crop Genomics: This segment focuses on the genetic improvement of crops, utilizing techniques such as marker-assisted selection and gene editing. This involves genetically engineered crops that can resist various pests and remain viable during droughts, as well as crops with higher nutritional value. Research in this segment mainly focuses on staple crops, including corn, soybeans, wheat, and rice. The field of crop genomics addresses these challenges to ensure that food supply continues to meet the growing global demand while simultaneously tackling climate change and decreasing the environmental impact of agricultural practices.

Agricultural Genomics: The genetic improvement of livestock, including cattle, poultry, and pigs, for traits such as disease resistance, growth rates, and feed efficiency. Genomic technologies facilitate the identification of superior traits that can be incorporated into breeding strategies to enhance herd health and productivity. Animal genomics is the study of the genetics of domesticated animals using genomic technologies, which are also crucial for improving animal welfare by identifying and managing genetic diseases.

Aquaculture Genomics: Fisheries are currently facing significant pressure due to the increasing demand for seafood. This encompasses the genetic enhancement of fish and shellfish species to achieve improved traits, including growth rate, disease resistance, and environmental resilience. Genomics can help make fish farming more sustainable and efficient, which is crucial for meeting the world’s demand for seafood.

Precision Agriculture: In addition to crop and livestock genomics, precision agriculture is a significant segment in the genomics market. This segment utilizes genomic data to inform best practices in farming, including irrigation, fertilization,  and pest control. The combination of GPS, sensors, data analytics, and genomic information helps farmers enhance crop yields while conserving key resources.

Segmentation of the Global Agri Genomics Market

By Sequencer Type

• Sanger Sequencing
• Illumina Hi Seq Family
• Pacbio Sequencers
• Solid Sequencers
• Other Sequencer Types

By Application

• Crops
• Livestock

By Objective

• DNA Extraction & Purification
• DNA/RNA Sequencing
• Genotyping
• Gene Expression Profiling
• Marker-Assisted Selection
• GMO/Trait Purity Testing
• Other Objectives

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Research Analysis

The agri-genomics market is heavily driven by researchers who are primarily interested in the field. This cutting-edge research primarily focuses on enhancing the productivity of both plants and animals, increasing pest resistance, promoting sustainable agriculture, and refining animal breeding technologies. The advancements made in CRISPR-Cas9, which enable more precise modifications to the genetic material of plant and animal genomes, remain an equally exciting potential area of research that is opening new doors to increase agricultural output.

Improvements in next-generation sequencing (NGS) technologies are also enabling the mapping of genomes in plants and animals with greater detail and accuracy. This has enabled the identification of important genes associated with traits such as drought tolerance, disease resistance, and nutritional content, paving the way for more crops and livestock with desirable characteristics. Bioinformatics analysis of sequence data helps reveal genetic diversity, mode of inheritance, and potential applications of genetic resources in breeding programs.

Data has become a hot topic in research, particularly in environmental sustainability, such as developing climate change-resilient crops or those that can grow in saline environments or determining their water consumption requirements. As an example, research is being conducted on drought-tolerant crops and animals that require less water and can adapt to new climatic conditions.

Market Overview

The agri-genomics market represents the growing demand for sustainable agricultural practices. More about market share, growth factors, advancements, and challenges in our newly published report. In terms of value, the markets in North America and Europe are currently the most profitable, with a relatively high market share, supported by investments in R&D and the adoption of advanced biotechnologies. Nonetheless, the markets in the Asia-Pacific, Latin America, and Africa are expected to witness significant growth over the forecast period, which can be attributed to rising investments in agricultural biotechnology and the adoption of genomic technologies.

The agri-genomics market’s competitive landscape comprises major multinational biotechnology companies, research organizations, and public and private agricultural entities. As such, these players are engaging in collaborations, partnerships, and acquisitions to broaden their portfolio and strengthen their market presence. The agricultural genomics market is poised for strong growth as new genomics tools and technologies continue to develop, and a wide variety of innovation opportunities await in the agricultural industry.

The players in the global Agri Genomics market include Eurofins Scientific, Thermo Fisher Scientific Inc., Illumina Inc., Zoetis Inc., Neogen Corporation, Galseq Srl Via Italia, Agrigenomics Inc., Biogenetic Services Inc., Arbor Biosciences, Tecan Genomics, Inc., among others.

FAQ

1. What is the global demand for Agri Genomics in terms of revenue?
2. Which are the prominent players in the market?
3. At what CAGR is the market projected to grow within the forecast period?
4. What are the driving factors fueling the growth of the market.
5. Which region accounted for the largest share in the market?