Press release
Plant Genomics Market Expansion Continues, with Forecast Valuation of $17.04 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Plant Genomics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a robust growth in the plant genomics market size in the past few years. The market, which stood at $10.99 billion in 2024, is projected to increase to $11.83 billion in 2025, registering a compound annual growth rate (CAGR) of 7.6%. The substantial growth during the historic period can be credited to factors such as enhanced funding for genomics research, the quest for optimizing crop yields, challenges posed by climate change, partnerships in research, and the consumer's growing demand for sustainable agriculture.
Plant Genomics Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the plant genomics market is projected to experience robust growth. The market is forecasted to escalate to $17.04 billion in 2029, with a compound annual growth rate (CAGR) of 9.6%. This growth during the forecast period can be linked to the emergence of big data analytics in genomics, the uptake of precision agriculture, improvements in crop nutrition, worldwide concerns about food security, and advances in gene expression research. The forecast period will also be marked by major trends such as the application of CRISPR and genome editing technologies, breakthroughs in sequencing technologies, the rise of big data and bioinformatics, and the integration of varied omics technologies.
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What Are the Drivers Transforming the Plant Genomics Market?
The anticipated surge in genetically modified plant's requirement is predicted to drive the plant genomics market's expansion. These biological plants, modified using recombinant deoxyribonucleic acid (DNA) technology, are what we refer to as genetically modified plants. Plant genomics studies are beneficial to these genetic plants as they can alter growth patterns or enhance disease resistance. When a specific DNA stretch is incorporated into the plant's genome, a genetically modified plant with unique or altered traits emerges. For example, as per the Scotland-based biologicals market analytical firm AgbioInvestor-GM, in February 2024, the worldwide GM crops area grew by 1.9% in 2023 compared to the previous year, hitting a 206.3 million hectare peak. Thus, the escalating demand for genetically modified plants is fueling plant genomics market growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Plant Genomics Market?
Leading firms in the plant genomics market are striving to create superior solutions such as genomics technology platforms that boost crop yields and improve plant characteristics. These platforms represent advanced systems and techniques, including Next Generation Sequencing (NGS), CRISPR/Cas9, and RNA sequencing. These give a thorough examination of plant genomes, leading to enhancements in crop variety, resistance to illness, and an increase in agricultural productivity overall. For illustration, Singrow Pte Ltd, an Agri-tech enterprise situated in Singapore, unveiled the world's initial climate-resistant strawberry variant leveraging sophisticated genomics technology in February 2023. This groundbreaking development seeks to promote food security and sustainability in tropical areas by supporting high-yield strawberry cultivation, therefore decreasing dependence on seasonal imports.
Which Segments in the Plant Genomics Market Offer the Most Profit Potential?
The plant genomics market covered in this report is segmented -
1) By Type: Molecular Engineering, Genetic Engineering, Genome Editing
2) By Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance
3) By Technology: DNA And RNA Sequencing, Genotyping, Marker-Assisted Selection (MAS), Bioinformatics
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables
Subsegments:
1) By Molecular Engineering: Marker-Assisted Selection (MAS), Quantitative Trait Loci (QTL) Mapping, Gene Sequencing, Genotyping
2) By Genetic Engineering: Gene Cloning, Transformation Techniques, RNA Interference (RNAi), Transgenic Crop Development
3) By Genome Editing: CRISPR-Cas9, TALEN (Transcription Activator-Like Effector Nucleases), Zinc Finger Nucleases (ZFNs), Prime Editing
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Which Firms Dominate the Plant Genomics Market by Market Share and Revenue in 2025?
Major companies operating in the plant genomics market include Agilent Technologies Inc., Illumina Inc., Eurofins Scientific SE, NRGene Ltd., Keygene N.V., Neogen Corporation, QIAGEN N.V, LC Sciences, TraitGenetics GmbH, Novogene Corporation, Oxford Nanopore Technologies Limited, Genewiz Inc., BGI Group, Genotypic Technology Pvt. Ltd., Floragenex Inc., Biome Makers Spain Inc., AgBiome, GATC Biotech AG, Bionano Genomics, Verinata Health Inc., National Institute of Plant Genome Research, Chinese Academy of Agricultural Sciences, Japan International Research Center for Agricultural Sciences, Korea Institute of Plant Biotechnology, Institute of Plant Sciences Paris-Saclay, Wageningen University & Research, Ghent University
Which Regions Offer the Highest Growth Potential in the Plant Genomics Market?
Asia-Pacific was the largest region in the plant genomics market in 2024. The regions covered in the plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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