- PCR based
- Whole genome-based
- Restriction digest
Agrigenomics Market size was valued at USD 3,742.9 million in 2022 and is anticipated to grow at a CAGR of 9.6% over 2023-2029. Agrigenomics, also known as agricultural genomics, involves the application of advanced genomic technologies to study the genetic makeup of plants, animals, and microorganisms used in agriculture. Agrigenomics encompasses a range of activities, including genome sequencing, genotyping, gene expression analysis, and bioinformatics. By decoding the genetic makeup of agricultural organisms, scientists can identify specific genes associated with desirable traits like higher yield, improved nutritional content, resistance to pests and diseases, and tolerance to environmental stresses. The growing global population, coupled with the imperative for sustainable agriculture, serves as a powerful driver propelling the growth of the agrigenomics market. As the world's population expands, the demand for food increases, placing immense pressure on agricultural systems to produce more with limited resources. Agrigenomics offers a transformative solution by enabling the development of crops and livestock with enhanced traits such as higher yields, disease resistance, and resource efficiency. This aligns perfectly with the urgent need for sustainable agricultural practices that minimize environmental impact and reduce reliance on chemical interventions.
Moreover, advancements in genomic technologies play a pivotal role in driving the revenues of the agrigenomics market by significantly enhancing the capabilities and efficiency of genetic analysis. The continuous progress in DNA sequencing techniques, genotyping technologies, and bioinformatics tools has led to faster, more accurate, and cost-effective analysis of the genetic makeup of agricultural organisms that allowed researchers and scientists to decipher the complex genetic codes of crops, livestock, and microorganisms with unprecedented precision and depth. However, while there have been advancements in genomic technologies, the cost of technologies like DNA sequencing and genotyping can still pose a challenge, particularly for smaller agricultural enterprises or research institutions with limited budgets. This cost factor is identified as a barrier that has the potential to impede the growth of the market. Meanwhile, increasing consumer awareness about the use of genomic technology in the agriculture sector further offers significant opportunities for the growth of the agrigenomics market. Several key market players are launching innovative solutions that further contribute to the market expansion. For instance, in February 2023, Singrow launched world’s first climate-resilient strawberry variety.
Fastest Growing Market
Technological advancements in the agrigenomics such as post-sequencing analysis techniques, government initiations for improving the crop yield, increase in R&D activities for the innovation of newer tests, and rise in funding from private and public sectors are expected to fuel the growth of agrigenomics market over the forecast period. However, stringent regulations for genetic test approvals, lack of professional researchers, and high cost of testing might hamper the growth of the market. Furthermore, trends in the market include advancements such as automation in genomic studies.
The agrigenomics market size was valued at USD 3,742.9 million in 2022
Increasing global population and rising government initiatives for genomic technologies are some of the key opportunities for companies to enhance their revenue over the forecast years.
Technological advances in genomic technology are one of the major trends in the agrigenomics market.