Genetic Engineering Plant Genomics Market Set to Reach $82.59 Billion by 2029 with 15.5% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Genetic Engineering Plant Genomics Market?
In recent times, the market size for plant genomics in genetic engineering has seen robust growth. The market, valued at $40.08 billion in 2024, is projected to increase to $46.41 billion in 2025, representing a compound annual growth rate (CAGR) of 15.8%. Factors contributing to the growth during the historic period include governmental support, advancements in technology, the surge in demand for sustainable agriculture, population growth, along with rising public consciousness and acceptance.

In the forthcoming years, the plant genomics market in genetic engineering is set to witness a significant surge, escalating to a substantial $82.59 billion in 2029, growing at a compound annual rate (CAGR) of 15.5%. This growth during the projected period can be credited to several reasons such as regulatory transparency, foray into new markets, customization and individualization, amalgamation with digital technologies, as well as adaptation to climate change. Noteworthy trends throughout this period include the increased uptake of CRISPR-Cas9 technology, the expansion in precision farming techniques, a surge in demand for biofortified crops, and the broadening of gene editing applications beyond merely crops.

What Are the Forces Behind the Rapid Growth of the Genetic Engineering Plant Genomics Market?
The escalating apprehensions regarding food safety are predicted to fuel the expansion of the genetic engineering plant genomics market. Food safety refers to the circumstance where every person has dependable access to sufficient, secure, and nutritious food necessary for maintaining a vigorous and dynamic life. The escalating apprehensions regarding food safety arise from elements like climate alterations, economic instability, and a rising worldwide population. These factors jeopardize the procurement and accessibility of food. Genetic engineering in plant genomics bolsters food safety by creating more robust crops to pests, diseases, and environmental stressors. This ultimately enhances agricultural productivity and stabilizes the food supply. For example, according to the US Department of Agriculture (USDA), a United States federal division for forestry, agriculture, food, and rural economic growth, in October 2023, 87.2% (115.8 million) of US households had food security. This showed a significant drop compared to the 89.8% (118.5 million) reported in 2021. Additionally, 7.7% (10.2 million) of US households underwent low food security in 2022. Hence, escalating concerns about food safety are predicted to fuel the expansion of the genetic engineering plant genomics market.

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Who Are the Dominant Companies Influencing Genetic Engineering Plant Genomics Market Trends?
Major companies operating in the genetic engineering plant genomics market are BASF SE, Bayer AG, Thermo Fisher Scientific Inc., Suntory Holdings Limited, Corteva Inc., DuPont de Nemours Inc, Eurofins Scientific SE, Agilent Technologies Inc, ADAMA Ltd, Illumina Inc, PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories, Zhejiang Xinan Chemical Industrial Group Co Ltd, UPL Limited, Qiagen N.V., Novogene Co Ltd, KWS SAAT SE & Co KGaA, Vilmorin & Cie, Neogen Corporation, Rubicon Genomics Inc, Verdesian Life Sciences LLC, GeneWiz Inc, Genotypic Technology Pvt Ltd, Syngenta AG, Keygene NV

How Is the Genetic Engineering Plant Genomics Market Evolving?
Leading corporations in the genetic engineering plant genomics sector concentrate on advancing technology, including automated molecular breeding genotyping solutions, to refine accuracy and effectiveness in crop breeding procedures. Such a system is capable of competently processing an array of plant samples using digital technologies and genomics software, thereby optimizing genetic scrutiny for breeding programs. For instance, in June 2024, MGI Tech, a biotech firm based in China, introduced a solution catered to large-scale agricultural low-pass genome sequencing. This innovative solution comprises of a fully automated product suite created for extensive molecular breeding and genotyping of agricultural diploid species. The low-pass WGS solution, augmented by MGI's automation platforms, successfully navigates traditional library preparation constraints by accomplishing extremely high throughput using limited tools. It facilitates swift, cost-effective, large-scale library preparation and endorses high throughput with the DNBSEQ-T7 sequencer, and medium throughput with the DNBSEQ-G400 benchtop sequencer, proving ideal for agricultural genomic studies.

What Are the Different Segmentations in the Genetic Engineering Plant Genomics Market?
The genetic engineering plant genomics market covered in this report is segmented -

1) By Type: Molecular Engineering, Genetic Engineering And Genome Editing, Other Types
2) By Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance And Insect Resistance, Abiotic Stress Tolerance
3) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Sugar Crops, Ornamentals, Alfalfa

Subsegments:
1) By Molecular Engineering: Gene Synthesis And Cloning, Protein Engineering, Enzyme Engineering, Marker-Assisted Selection
2) By Genetic Engineering And Genome Editing: CRISPR/Cas9 Technology, TALENs (Transcription Activator-Like Effector Nucleases), ZFNs (Zinc Finger Nucleases), RNA Interference (RNAi), Agrobacterium-mediated Transformation
3) By Other Types: Synthetic Biology In Plant Genomics, Epigenetic Engineering, Horizontal Gene Transfer

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Which Region Is at the Forefront of the Genetic Engineering Plant Genomics Market?
Asia-Pacific was the largest region in the genetic engineering plant genomics market in 2023. The regions covered in the genetic engineering plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Genetic Engineering Plant Genomics Global Market Report?

- Market Size Analysis: Analyze the Genetic Engineering Plant Genomics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genetic Engineering Plant Genomics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genetic Engineering Plant Genomics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genetic Engineering Plant Genomics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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