Global Agrigenomics Market Will Grow At Highest Pace Owing To Increasing Adoption Of Bring Your Own Device

 
Global Agrigenomics Market

Global Agrigenomics:
Agrigenomics is the use of molecular techniques to study agricultural genomes. It helps in developing genetically modified crops with enhanced yields, improved resilience against abiotic stresses such as drought, salinity and tolerance to biotic stresses such as diseases and pests. Agrigenomics enables the production of crops with enhanced nutritional quality. It also aids in discovering and utilizing the genetic variations between individuals of the same species to improve their performance. The growing demand for nutritious and sustainable food sources to feed the burgeoning world population is one of the major drivers of the global agrigenomics market.

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. These major players are focusing on R&D activities to develop advanced agrigenomic products and services to gain higher market share. The increasing demand for high-yield and climate-resilient crops from the growing population is one of the major factors driving the growth of the agrigenomics market. Additionally, technological advancements including next-generation sequencing and CRISPR gene editing are also fueling the market growth.

Market Trends:
1. Growth in Genomics Assisted Breeding: Global Agrigenomics Market Size  helps in increasing crop productivity and enhancing crop tolerance to various biotic and abiotic stresses through genomics assisted breeding programs for various crop varieties. This has increased the adoption of agrigenomics in breeding applications.

2. Use of Molecular Markers: DNA molecular markers are increasingly used for trait mapping, marker-assisted selection, genomics-assisted breeding, and identity preservation in agrigenomics. Marker technologies such as SNPs (single-nucleotide polymorphism) are promising tools for agrigenomic applications.

Market Opportunities:
1. Growing demand for Functional Foods: With the increasing health consciousness, there is high demand for functional foods and nutraceuticals enriched with antioxidants, vitamins, minerals, etc. Agrigenomics can aid in developing cultivars with enhanced nutritional quality.

2. Scope for Genome Editing: Genome editing technologies like CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) provide immense opportunities for agrigenomics in developing biotic and abiotic stress-tolerant cultivars. This can drive innovation in the market.

Impact of COVID-19 on Global Agrigenomics Market Growth
The COVID-19 pandemic has significantly impacted the growth of the global agrigenomics market. During the initial lockdown periods, traditional agriculture activities faced major disruptions across supply chains. Farmers faced difficulties in sourcing seeds, fertilizers and getting access to agricultural machinery for farming activities. This impacted the production and yield of various crops during 2020 and 2021.

However, with the increasing focus on pandemic preparedness, the demand for agrigenomics increased in the post-COVID era. Researchers are extensively utilizing agrigenomics tools to develop crops that are more resilient to diseases and able to withstand stresses like droughts and floods. This is helping farmers mitigate risks of production losses due to climate change and pandemics. Going forward, agrigenomics is expected to play a key role in developing preventive strategies to protect global food supply chains from future crises.

Government and private organizations have also increased funding for agrigenomics projects focused on biofortification of staple crops and development of high nutrient varieties. This is supporting nutritional security especially for low income populations impacted economically due to the pandemic. With recovery of global economy and stabilization of supply chains, the agrigenomics market is projected to witness stronger growth in the forecast period compared to pre-COVID estimates.

North America Dominates Global Agrigenomics Market in Terms of Value
North America currently dominates the global agrigenomics market in terms of value. This is attributed to large scale adoption of advanced genomics tools by leading agritech companies for developing superior seeds and traits in the region. Majority of agrigenomics based research is concentrated in the US and Canada due to presence of prominent life sciences players and strong government funding for precision agriculture.

Countries like US, Canada and Mexico collectively account for over 35% market share of the global agrigenomics industry based on revenue. Availability of skilled workforce and robust intellectual property laws have boosted R&D investments in agrigenomics in North America. Going forward, market growth in Latin American countries is expected to rise at fastest pace driven by initiatives toward boosting agricultural productivity through genomics led innovations.

Asia Pacific Emerges as Fastest Growing Region in Global Agrigenomics Market
The agrigenomics market in Asia Pacific region is expected to expand at fastest CAGR during the forecast period. This is primarily driven by large population dependent on agriculture for livelihood in countries such as India and China. Governments in the region are strongly supporting programs and public private partnerships to develop high yielding and climate resilient crop varieties.

Countries like India, China, Japan, South Korea and Australia are emerging as top investment destinations for agritech companies. Rising availability of arable land, favorable climatic conditions and increasing acceptance of genetically modified crops make Asia Pacific a lucrative market for agrigenomics technologies. Furthermore, private players are collaborating with local universities and research institutes to commercialize agrigenomics solutions tailored for the regional agro-climatic conditions. These factors are fueling the growth of agrigenomics industry in Asia Pacific.

 

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