by Agrigenomics involves the use of various molecular techniques such as genomics, transcriptomics, proteomics and metabolomics for better understanding of complex agricultural traits in crops and livestock. It facilitates identification of genomic regions and functional markers related to important agronomic characters and thus enables their genetic improvement. Some of the key advantages of agrignomics include development of high yielding, stress tolerant and nutritionally enriched crop varieties as well as improved animal breeds. With rising global food demand and impacts of climate change on agriculture, agrignomics is gaining significance in ensuring sustainable food production.
The Global Agrigenomics Market is estimated to be valued at US$ 4.30 BN in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Agrigenomics market are BGI, Illumina, Inc., Eurofins Scientific SE, LGC Limited, Arbor Biosciences, Biogenetic Services Inc., Galseq Srl Via Italia, Thermo Fisher Scientific, Inc., Agilent Technologies Inc., and Tecan Genomics Inc. Some of the key opportunities in the market include development of agrignomic tools and databases, gene editing and marker assisted breeding programs. Rapid advancements are being witnessed in next generation sequencing technologies, bioinformatics and high throughput genotyping which is driving agrignomics applications.
Technological advancements in the Global Agrigenomics Market Size include development of advanced sequencing platforms such as third generation and long read sequencing for better genome assemblies. Tools such as CRISPR-Cas9 have also emerged as a powerful gene editing technology. Increased adoption of cloud computing and big data analytics is further providing insights on complex agronomic traits.
Market Drivers
The rising global demand for food due to growing population coupled with shrinking agricultural land and impacts of climate change are fuelling investments in agrigenomics. Genome sequencing of major crop varieties and livestock is enabling identification of key traits related to biotic and abiotic stress tolerance as well as yield improvement. Government policies and funding initiatives supporting precision breeding technologies are also boosting the global agrignomics market.
Challenges in Global Agrigenomics Market
The global agrigenomics market faces several challenges. One major challenge is the lack of awareness among farmers about the potential benefits of agrigenomics technologies. Many farmers in developing regions are not aware about how agrigenomics can be used to develop disease-resistant and high-yielding crop varieties. High setup and investment costs required for agrigenomics research activities is another challenge. Establishing genomics laboratories, procuring advanced genetic sequencing equipment and hiring skilled researchers requires huge investments which are difficult for many players operating in the market. Lengthy product development cycles involved in genomics-assisted breeding is also a barrier as it leads to delays in commercialization of new varieties. Changes in government regulations related to GMO crops pose regulatory compliance challenges as well.
SWOT Analysis
Strength: Advanced technologies like next-generation sequencing and genomic selection enable precise breeding programs. Weakness: High setup and maintenance costs of agrigenomics labs pose financial challenges. Opportunity: Growing need to enhance crop yields and develop climate-resilient crops drives the market. Threats: Stringent regulations related to GMO crops and public concerns over biosafety issues hamper market growth.
The global agrigenomics market is concentrated highly in Europe and North America in terms of value. Together these two regions accounted for over 55% share of the overall market revenue in 2024 owing to strong governmental support for agritech R&D activities and presence of leading players in the regions. Asia Pacific is identified as the fastest growing regional market for agrigenomics propelled by increasing investments by governments in agriculture biotechnology sector especially in India, China and Southeast Asian countries. Growing population and rising demand for food in Asia Pacific economies is a key factor fueling the adoption of advanced agrigenomic technologies.
The agrigenomics market is growing rapidly in Latin American countries led by Brazil. Government-backed projects and initiatives promoting sustainable agricultural practices using genomics are supporting market expansion. Increasing trade relationships with major agritech players in Europe and North America is also enabling wider availability and adoption of agrigenomics solutions in Latin American nations. Middle East and Africa offer emerging opportunities for vendors as governments in the regions emphasize on utilizing cutting-edge technologies to enhance crop yields and agricultural productivity.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
