Global Agrigenomics Market Report - Industry Share, Forecast, Analysis, Growth, Trends, and Size 2024 - 2031 | BGI

The agrigenomics market size is expected to reach US$ 7.67 Bn by 2031, from US$ 4.30 Bn in 2024, at a CAGR of 8.6% during the forecast period.

BURLINGAME, CALIFORNIA, UNITED STATES, May 22, 2024 /EINPresswire.com/ -- Market Overview:

Agrigenomics is the study of genomes and their expression in agricultural plants and animals. It involves sequencing of genomes of various crops, livestock and microbes in order to understand the genetic basis of agricultural traits. This helps in developing new crop varieties and livestock breeds with improved yields, enhanced nutrition and resistance to biotic and abiotic stresses.

Market Dynamics:

Advancements in genome sequencing technologies is one of the major drivers fueling growth of the global agrigenomics market. Continuous decline in genome sequencing cost coupled with improvements in speed and accuracy is making whole genome sequencing accessible for various applications. This is enabling sequencing of multiple plant and animal varieties. Growing global population and declining agricultural land is another driver leading to increased focus on developing high-yielding, stress-tolerant crop varieties through agrigenomics approach. Genome-based selection and breeding methods help in shortening breeding cycles and delivering superior varieties meeting global food demand. Establishment of national programs for promoting agrigenomics research and its application is further supporting market growth over the forecast period.

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Global Agrigenomics Market Rising Demand for Drought and Disease Resistant Crops

The global population is rising rapidly which is increasing the demand for food production. However, climate change is making farming more challenging due to droughts and unpredictable weather patterns. Farmers are facing huge losses due to drought tolerant and pest resistant crops. Agrigenomics helps in developing seeds that can withstand droughts and resist pests and diseases. Through genomic techniques, genes responsible for providing drought and disease resistance can be identified and introduced into commercial crops. This is fueling the growth of the global agrigenomics market. Countries like India and China are investing heavily in agrigenomics research to develop crops that can sustain in adverse conditions and boost agricultural yields.

Increasing Adoption of Genomic Selection Techniques

Traditional crop and animal breeding was slow and unpredictable. With advancements in genomic technologies, genomic selection techniques like marker-assisted selection, genomic selection, and genome editing are being widely adopted. These techniques help in identifying genes linked to important agricultural traits much faster. Genomic selection allows plant and animal breeders to predict an individual's genetics without waiting for its progeny to be observed. This saves time and generates more accurate results than conventional breeding. The widespread use of genomic selection approaches in livestock and crop improvement programs is propelling the agrigenomics industry growth.

High Cost of Research Activities Hampers Market Growth

While agrigenomics holds huge potential, the research and development activities involved are highly capital intensive and time-consuming. Developing a transgenic crop variety through genome editing or marker-assisted breeding requires extensive laboratory experiments and field trials over many crop growth cycles. It may take 10-15 years and millions of dollars of investment to progress a single variety from research to commercialization. The lengthy regulatory approvals and public skepticism over genetically modified crops also increase the costs. Moreover, agrigenomics expertise is concentrated in developed economies while most farmers are in developing nations. The significant costs associated with agrigenomics research limit its widespread adoption, especially in developing countries, which acts as a key restraint for this market.

Top Companies Featured in This Report:

★ BGI
★ Illumina Inc.
★ Eurofins Scientific SE
★ LGC Limited
★ Arbor Biosciences
★ Biogenetic Services Inc.
★ Galseq Srl Via Italia
★ Thermo Fisher Scientific Inc.
★ Agilent Technologies Inc.
★ Tecan Genomics Inc.

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Market Segmentation:

By Product Type:

★ By Sequencer: Sanger Sequencing, Illumina Hi Seq Family, PacBio Sequencing, Solid Sequencers, and Other

By Applications:

★ By Application: Crop and Livestock

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Why Choose Our Comprehensive Market Report:

• Evaluate numerous aspects of the Global Agrigenomics Market outlook through Porter's Five Forces analysis.

• Examine the growth rate and market shares of various product types and applications/end-users within the Global Agrigenomics Market.

• Gain insights into the Global Agrigenomics Market dynamics across different regions.

• Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.

• Stay updated on the latest developments, market shares, and strategies of key players in the Global Agrigenomics Market.

• Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the Global Agrigenomics Market.

• Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.

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Key Inquiries Addressed in this Report include:

• What was the size of the Global Agrigenomics Market in 2024, and what is the projected value by 2030?

• What is the present global market landscape for the Global Agrigenomics Market?

• What strategies offer optimal opportunities for growth maximization in the business?

• What recent trends are shaping the Global Agrigenomics Market?

• How does the market share of Global Agrigenomics Market revenue, sales, and size vary across specific geographical regions?

• Who are the prominent industry players in the Global Agrigenomics Market?

• Which segment of the Global Agrigenomics Market is experiencing heightened demand?

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