Agrigenomics Market Key Trends, Share And Forecast 2024-2033

The agrigenomics market size has grown rapidly in recent years. It will grow from $3.89 billion in 2023 to $4.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increasing demand for sustainable agriculture, rising population and food demand, government initiatives and funding, growth in precision farming practices, collaborations and partnerships.

The agrigenomics market size is expected to see rapid growth in the next few years. It will grow to $6.61 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing climate change challenges, expanding applications of genomic data, growing adoption of big data analytics, global focus on sustainable agriculture, continued government support. Major trends in the forecast period include sustainable agricultural practices, development of new technologies, innovative technologies, government funding and investments.

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.

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Impact Of Global Population Growth On The Expanding Agrigenomics Market
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.

Competitive Landscape -
Major companies operating in the agrigenomics market report are 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.

Technological Advancements Transforming The Agrigenomics Market
Technological advancements are the key trend gaining popularity in the agrigenomics market. Major companies operating in the agrigenomics market are focusing on developing new technologies for improving genomic studies and enhancing the current platforms for agrigenomics. For instance, In May 2022, NEOGEN Corporation, a Switzerland-based food safety company, and Gencove, an Indian-based company that provides low-pass whole genome sequencing and analysis software company, launched InfiniSEEK. It is an innovative, less costly solution for whole genome sequencing and targeted SNP analysis. With the launch of this new solution customers now have a data-rich, economical way to classify cattle all across the world using genome-wide sequence data, specific genetic features, and parentage markers simultaneously.

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Key Segments -

The 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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