Agrigenomics Global Market Report 2024

The global agrigenomics market 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 observed in the historical period can be attributed to various factors, including the increasing demand for sustainable agriculture practices, a growing global population leading to higher food demand, government initiatives and funding supporting agricultural advancements, the expansion of precision farming practices, and the fostering of collaborations and partnerships within the agricultural sector.

The global agrigenomics market 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 anticipated growth in the forecast period can be attributed to several factors, including the escalating challenges posed by climate change, the broadening applications of genomic data, the increasing adoption of big data analytics in agriculture, a global emphasis on sustainable agricultural practices, and sustained government support for the agricultural sector. Major trends expected in the forecast period encompass the promotion and adoption of sustainable agricultural practices, the development of new and innovative technologies in agriculture, and a continued focus on government funding and investments in the sector.

The escalating world population growth stands as a significant driving force behind the forward trajectory of the agrigenomics market. This exponential population increase translates into amplified demands for more efficient and sustainable farming practices. Agrigenomics plays a pivotal role in meeting these demands by facilitating the production of nutrient-dense meals and enabling the cultivation of substantial food quantities within confined spaces, thereby supporting the sustenance of the burgeoning global populace. As reported by the United Nations in 2022, the global population is anticipated to burgeon to 8.5 billion by 2030 and further to 9.7 billion by 2050. This exponential surge in population remains a pivotal catalyst propelling the growth of the agrigenomics market.

The escalating impact of climate change stands poised to fuel the growth trajectory of the agrigenomics market. Climate change, indicative of prolonged alterations in regional or global weather patterns, presents unprecedented challenges to agriculture. Agrigenomics emerges as a crucial tool by deciphering and harnessing the genetic underpinnings associated with climate resilience. By leveraging genetic insights, it facilitates the development of adaptive farming practices, promoting sustainability amidst evolving environmental conditions. Notably, according to a report by the World Health Organization in October 2023, approximately 3.6 billion individuals reside in highly climate-vulnerable regions. Projections indicate that between 2030 and 2050, climate change could lead to an annual increase of around 250,000 deaths attributed to factors like undernutrition, malaria, diarrhea, and heat stress. This pressing impact of climate change significantly propels the growth of the agrigenomics market.

Technological advancements represent a pivotal trend garnering attention within the agrigenomics domain. Leading companies within this sector prioritize the development of innovative technologies to enhance genomic studies and augment existing agrigenomics platforms. An exemplary case is the May 2022 collaboration between NEOGEN Corporation, a Switzerland-based food safety company, and Gencove, an Indian-based entity specializing in low-pass whole genome sequencing and analysis software. Their joint launch, InfiniSEEK, represents an innovative and cost-effective solution for whole genome sequencing and targeted SNP analysis. This solution empowers customers with a data-rich and economical means to globally classify cattle using genome-wide sequence data, specific genetic traits, and parentage markers, underscoring the transformative impact of technological advancements within the agrigenomics landscape.

Prominent entities within the agrigenomics market are dedicatedly crafting innovative products, exemplified by the development of human whole-genome sequencing (WGS) assays. This comprehensive genetic analysis technique involves deciphering an individual's entire genome sequence and is positioned to cater to expanding customer bases, drive sales, and augment revenue streams. In March 2023, Illumina Inc., a leading US-based biotechnology company, introduced Illumina Complete Long Read Prep, Human. Unique in its compatibility with Illumina's NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems, this product distinguishes itself by granting users access to both long- and short-read data on a single Illumina instrument. Illumina Complete Long Reads streamlines workflows, significantly reducing DNA input requirements compared to other long-read offerings, presenting a leap forward in genetic analysis capabilities.

A strategic move unfolded in April 2022 when LGC, a UK-based company specializing in mission-critical components and solutions, executed the acquisition of Rapid Genomics, underscoring a significant undisclosed investment. This strategic acquisition positions LGC to expand and evolve its Next-Generation Sequencing (NGS) high-throughput offerings within the realm of agricultural genomics. Rapid Genomics, a US-based company specializing in the development and delivery of genomic applications to agribusinesses, stands as a pivotal addition to LGC's vision, augmenting its capabilities and facilitating future growth and development in agricultural genomics.

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.

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. The countries covered in the agrigenomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of agrigenomics include genotyping, DNA fingerprinting, assessment of genetic purity, trait purity assessment, gene expression analysis, and other related techniques. DNA fingerprinting is a method that unveils the genetic composition of living organisms. Various technologies are employed in agrigenomics, including real-time PCR, microarrays, next-generation sequencing, and capillary electrophoresis, among others. These technologies use different types of sequencers such as Sanger sequencing, Illumina HiSeq family, PacBio sequencers, SOLiD sequencers, and others. Agrigenomics finds applications in both crops and livestock, contributing to advancements in the agricultural industry.

This report provides agrigenomics market statistics, including agrigenomics industry global market size, regional shares, competitors with an agrigenomics market share, detailed agrigenomics market segments, market trends and opportunities, and any further data you may need to thrive in the agrigenomics industry. This agrigenomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The agrigenomics market includes revenues earned by entities by executing genome analysis and sequencing through DNA extraction and purification, genotyping, and marker-assisted selection. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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