The Global Agri Genomics Market to Reach at a CAGR of 7.10% During the Forecast Period (2021-2028)

Vantage Market Research

Dec 10, 2021

The Global Agri-Genomics Market size was estimated at USD 13.12 billion in 2020 and is expected to reach USD 22.71 billion by 2028, at a CAGR of 7.10%. Advanced genomic approaches have increased crop quality and production while using fewer fertilizers, herbicides, and water. Soil scientists are utilizing next-generation sequencing for the development of complete characterization of soil microbial communities to allow better prediction of soil health.

The Agri-Genomics market is anticipated to grow at a high rate during the forecast period, because of the exponential increase in population, rise in demand for crop and livestock, government initiatives to support research and enhance crop productivity and surge in demand for genomic databases by livestock breeders.

KEY FINDINGS

  • The research and development sector has helped in innovation in new technology in genomics across the globe which has helped in developing crops and livestock production. The growing population and need for agricultural produce have increased opportunities for the market in the upcoming years.
  • The increasing pest attack is becoming a big issue for farmers throughout the world. Pests cause an annual loss of 10-15% of crops globally. Also, the pests are evolving which is making them harder to kill. Thus, the need to strengthen the crops and increase their durability is a major driving force for the Agri genomics market.
  • Increasing research in the field of Agri genomics in emerging economies and DNA sequencing in livestock is generating a slew of lucrative opportunities that will propel the market forward during the forecast era. Higher throughput and lower cost per sample have resulted from the rapid adoption of sequencing technology in the Agri genomics industry. Because of this, the NGS technique is positioned in the Agri genomics market as a cost-efficient method for purity checking, genotype screening, gene mapping, conducting association mapping, screening backcross lines, genomic selection, and constructing haplotype maps. Furthermore, in the Agri genomics Market, NGS is commonly used for genomes that are large where funding is less. Crop researchers have also been pushing the industry by promoting the use of NGS for genomics that assisted breeding and genomic selection. Researchers are looking into the Agri genomics market to see if there are any solutions to diseases that cause massive food loss. 

Due to budgetary constraints, the adoption of automated systems in Agri genomics research has been comparatively low, unlike other areas such as human genetics. Thus, in developing countries, researchers still prefer manual methods over automated ones, despite being aware of the benefits of using automated systems. Similarly, academic research laboratories in emerging economies find it difficult to invest in such systems. Hence, the penetration of these high-cost automated systems is restricted to developed countries, thus limiting the scope of further market growth in automation in Agri genomics research.

North America dominated the Agri genomics market because of the strong R&D, technology innovation, and increased mergers and acquisitions in Agri genomics within the region. The US accounted for the most important country-level share in 2020 by the advancements in sequencing and molecular breeding that are utilized in applications like food & agriculture, animal health, and public health. Countries within the North American region produce an oversized quantum of GM crops like canola, corn, soybean, and beet each year. However, cross-contamination between GMOs and non-GMO crops resulting in new proteins could potentially cause aversions in folks. Therefore, regulations require safety tests to be conducted on novel traits that are introduced by conducting GMO/trait purity tests on samples.

Key market players

Some key players in the global Agri genomics market are Thermo Fisher Scientific, Inc., Biogenetic Services, Inc., Agri Genomics, Inc., Agilent Technologies, Inc., Illumina, Inc., Affymetrix, Eurofins Scientific SE, Sci Genome Labs Pvt Ltd., Neogene Corporation, and LGC Limited.LC Sciences, LLC., Agri Genome Labs Pvt Ltd, and Array-Gen Technologies Pvt Ltd.