Global Agrigenomics market trends 2024, Forecast To 2033
28 Feb, 2024
The agrigenomics market has rapidly expanded, escalating from$3.89 billion in 2023 to$4.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. This growth in the historic period can be attributed to the increasing demand for sustainable agriculture, rising global population and food demand, government initiatives and funding, the growth of precision farming practices, and collaborative partnerships within the industry. Looking ahead, the agrigenomics market is expected to continue its rapid growth, reaching$6.61 billion in 2028 at a CAGR of 11.1%. Anticipated drivers of growth include increasing challenges related to climate change, expanding applications of genomic data, growing adoption of big data analytics, global emphasis on sustainable agriculture, and continued government support. Major trends in the forecast period include sustainable agricultural practices, the development of new and innovative technologies, and increased government funding and investments in the sector.
Global Agrigenomics Market Key Driver
The exponential increase in the world population is significantly contributing to the growth of the agrigenomics market going forward. Expanding population is increasing the demand for more productive and more sustainable farming. Agrigenomics also aids in the production of more nutrient-dense meals and the growth of huge quantities of food in a small area which helps in sustaining the increasing population. For instance, in 2022, according to data from the United Nations, a US-based intergovernmental organization whose stated purposes are to maintain international peace and security, the global population is projected to grow to 8.5 billion in 2030 and to 9.7 billion in 2050. Therefore, an exponential increase in the world population will drive the agrigenomics market. In 2023, the market size for agrigenomics is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Agrigenomics Market ReportGlobal Agrigenomics Market Segments
The global agrigenomics market covered in this report is segmented –
1) By Service Offerings: Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Other Service Offerings
2) By Technology: Real-Time PCR (qPCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, Other Technologies
3) By Sequencer Type: Sanger Sequencing, Illumina Hi Seq Family, Pacbio Sequencers, Solid Sequencers, Other Sequencer Types
4) By Application: Crops, Livestocks
By Geography: The regions covered in the agrigenomics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the agrigenomics market share in 2023. The regions covered in the agrigenomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Agrigenomics Industry Players
Agilent Technologies Inc., Agrigenomics Inc., Biogenetic Services Inc., Eurofins Scientific SE, Galseq Srl, Illumina Inc., LGS Limited, Neogen Corporation, Thermo Fisher Scientific Inc., Zoetis Inc., Pacific Biosciences f California Inc., NuGEN Technologies Ltd., UD-GenoMed Limited, Arbor Biosciences LLC, Tecan Genomics Inc., BGI Group, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Danaher Corporation, DNA LandMarks Inc., Dovetail Genomics LLC, F. Hoffmann-La Roche AG, Fluidigm Corporation, Front Range Biosciences Inc., Genotypic Technology Pvt Ltd., GENEWIZ Inc., Inari Agriculture Inc., Intrexon Corporation, Kbiosystems Ltd., KeyGene NV, LC Sciences LLC, NRGene Ltd., Oxford Nanopore Technologies Ltd., Qiagen NV, Saphyrion Inc., SeqLL Inc., Zymo Research Corp.
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Agrigenomics Market Overview
Agrigenomics is the application of genomics in agribusiness to improve livestock and agricultural yield and sustainability. These allow the crop to yield better and help in production.
Agrigenomics Global Market Report 2023 provides data on the global agrigenomics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The agrigenomics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.