Plant Genomics Market Overview
Global Plant Genomics reached USD 8.1 billion in 2022 and is expected to reach USD 14.7 billion by 2030 and grow with a CAGR of 7.8% during the forecast period 2023-2030. Crop protection may be enhanced as plant genomics advances by reducing mycotoxin contamination in plants and allowing crops to tolerate high temperatures.
There is a need for an increase in plant productivity, creating a demand for balanced food security and a bio-based economy to enhance food security. According to the data published by the United Nations Convention to Combat Desertification, around 20-30% of the earth’s vegetated surface is declining due to the loss of vegetative cover. This resulted in a need to find alternative scientific methods to improve the vegetation cover.
The growing demand for high-yielding, stress-tolerant crops, and genetic manipulation approaches drive the growth of the global plant genomics market. The need for crop productivity enhancement, improved disease resistance, and the development of genetically modified crops are boosting the plant genomics market expansion.
Plant Genomics Market Scope
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Metrics |
Details |
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CAGR |
7.8% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
By Type, By Trait, By Application |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Plant Genomics Market Dynamics
The Increasing Application of Genomics in Plant Breeding Drives the Growth of the Global Plant Genomics Market.
The availability of genomic tools and resources leads to a new revolution in plant breeding, as they facilitate the study of the genotype and its relationship with the phenotype, particularly for complex traits. Next-generation sequencing technologies allow mass genomic sequencing and transcriptomes, producing vast genomic information.
The analysis of NGS data employing bioinformatics developments allows the discovery of new genes, regulatory sequences, and their positions and makes extensive collections of molecular markers available. Marker Assisted Breeding is advantageous for complex traits. The genomic mapping improves plant comparative genomics and helps in plant breeding applications.
Increasing Demand for Genetically Modified Crops is Driving Plant Genomics Market Growth
Genetically modified crops are incorporated with beneficial traits. They are resistant to insect damage and are tolerant to herbicides. So, farmers can apply fewer spray pesticides to protect the crops and help farmers control weeds without damaging the crops. Proteomics and metabolomics are immensely helpful in producing a better profitable crop. Most gentle etically modified crops grown today enveloped farmers to prevent crop loss.
They can help foods become more accessible and affordable for consumers. Genomic variation and functional genomics are used in producing genetically modified crops. Some of these crops were explicitly developed to benefit consumers. For example, a genetically modified soybean used to create a healthier oil is commercially grown and available.
The High Cost of Plant Genomics and Concerns Related to Environment Pollution are Restraining the Plant Genomics Market Growth
Plant genomics remains critical in ensuring scientific progress to secure global food security. There is an increase in the high sequencing costs and availability of analytical tools, making it costlier to trials. Trials have increased production in the range of 14.0% to 30.0%. The best genomes now represent the highest input cost to growers and up to 80% of the gross margin products of the technology companies that produce them.
The rising costs of plant genomics are impacting the market’s growth negatively. Shifts in ecosystems that lead to creating or destroying interactions among species can have major significant fences. For example, pathogens no longer kept in check by standard weather patterns in their endemic regions can expand their geographic sphere, reaching new unexposed populations. Also, rising health and environmental concerns are hindering the plant genomics market.
Plant Genomics Market Segmentation Analysis
The global plant genomics market is segmented based on type, trait, application, and region.
In the Global Plant Genomics Market, the Cereals/ Grains Segment Holds the Largest Market Share
The global plant genomics market has been segmented by application into cereals/ grains, oilseeds/ pulses, fruits/ vegetables, and others. The cereals/ grains segment held the largest plant genomics market share of 38.4% in 2022 in the plant genomics market analysis report. The increased focus on cereals/ grains in plant genomics increases the segment’s growth.
Adopting modern plant sequencing techniques has been extensive in developed countries for crops such as corn and wheat. The growth in adopting various molecular breeding types, such as molecular engineering and genetic engineering tools, would increase crop performance to gain better market prices.
Plant Genomics Market Geographical Share
The North America Held the Largest Share of the Plant Genomics Market
The global plant genomics market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American plant genomics market held the largest market share of 38.6% in 2022 in the plant genomics market analysis.
The increased share of this region could be attributed to the increasing demand for high-quality food products. The rapid adoption of advanced agricultural technologies and several ongoing research initiatives in plant genomics. Furthermore, government initiatives to improve crop quality also help ensure that the market keeps growing in this region.
Plant Genomics Companies and Competitive Landscape
The major global players in the market include Agilent Technologies Inc., BGI Genomics, Eurofins Scientific SE, Florogenex Inc., GENEWIZ Inc., Illumina Inc., Keygene N.V., Neogen Corporation, L.C. Sciences, and Novogene Co. Ltd.
COVID-19 Impact on Plant Genomics Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the agriculture industry. Covid-19 has considerably impacted the global agriculture technology supply chain phases involving plant genomics production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the agriculture sector is seeing increased trends like plant genomics. The agriculture businesses are launching innovative programs, including plant genomics.
By Type
- Genetic Engineering
- Molecular Engineering
- Others
By Trait
- Yield Improvement
- Disease Resistance
- Herbicide Tolerance
- Others
By Application
- Cereals/ Grains
- Oilseeds/ Pulses
- Fruits/Vegetables
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In February 2020, AgraFlora Organics International Inc., a growth-oriented and diversified company focused on the international cannabis industry, announced that its subsidiary, Propagation Services Canada Inc., has signed an agreement to buy Live-Plant Genetics.
- In December 2020, Calyxt, Inc. announced signing a research collaboration with NRGene Ltd. that comprises the use of the cloud-based genomic platform of NRGene to fast-track hemp trait discovery.
- In May 2021, an Indian start-up called 30M Genomics developed a new technology called AmpReady to extract DNA from a biological sample in five seconds without requiring equipment. 30M Genomics, which focuses on point-of-care genetic diagnostics. It can be used with any biological sample, including human, animal, plant, or microbe.
Why Purchase the Report?
- To visualize the global plant genomics market segmentation based on type, trait, application, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of plant genomics market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The Global Plant Genomics Market report would provide approximately 61 tables, 59 figures and 165 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
