Agrigenomics Market Size (2024 - 2029)

Agrigenomics Market Analysis

The Agrigenomics Market size is estimated at USD 4 billion in 2024, and is expected to reach USD 6.20 billion by 2029, at a CAGR of 9.5% during the forecast period (2024-2029).

• Technological advancements, government investments, and a growing demand for food, coupled with diminishing land availability, are driving the agrigenomics sector. As the global population continues to rise, the challenge of feeding an estimated 9.8 billion people by 2050 becomes more pressing. The World Bank forecasts a reduction in per capita farmland to 1,800 m² by 2030. In light of this, scientists globally strive to balance crop diversity and quality, to boost yields to meet the surging food demand sustainably.
• Technological advancements, especially in next-generation sequencing, are transforming genome analysis, making it faster and more cost-efficient. Innovations like CRISPR-Cas9 provide precise genome editing tools for both plants and animals. For instance, in July 2024, scientists harnessed CRISPR to develop rice varieties resistant to blast disease, a major threat to rice production in Asia. CRISPR/Cas9 technology has made notable inroads in poultry, especially with chickens and quails, with chickens leading the way. Significant advancements include modifying the avian genome through germ cell lineages. This development empowers poultry breeders and producers to utilize CRISPR techniques, introducing essential genetic variations that may be absent in certain flocks.
• North America commands a substantial share of the agrigenomics market, largely due to its growing adoption. Agrigenomics not only bolsters crop resistance, potentially curtailing the reliance on harmful pesticides, but also aids in crafting superior crop varieties. With the momentum of pesticide bans, the demand for agrigenomics services is set to escalate.
• Key players in the market are bolstering agrigenomics research through grants and funding. For instance, Illumina Inc., a prominent name in agrigenomics and DNA/RNA extraction, showcases its commitment through the Agricultural Greater Good Initiative, which offers grants to researchers. Such endeavors not only promote research but also stimulate market expansion.

Agrigenomics Industry Segmentation

Agrigenomics is the application of genomics and bioinformatics technologies to agriculture. It involves the use of high-throughput sequencing, gene editing, and other genetic techniques to study and improve agricultural crops, livestock, and other agricultural products. The agrigenomics market is segmented by technology (real-time PCR (qPCR), microarrays, next generation sequencing, capillary electrophoresis, and other technologies), application (crops and livestock), service offerings (genotyping, DNA fingerprinting, assessment of genetic purity, trait purity assessment, gene expression analysis, and other service offerings), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers the market size and forecasts in terms of value in USD for all the above segments.