Agrigenomics Market Size, Share & Trends Analysis Report By Application (Crop, Livestock), By Sequencer (Sanger Sequencing, Illumina Hi Seq Family, PacBio Sequencing), By Region, And Segment Forecasts, 2023 - 2030

Agrigenomics Market Size, Share & Trends Analysis Report By Application (Crop, Livestock), By Sequencer (Sanger Sequencing, Illumina Hi Seq Family, PacBio Sequencing), By Region, And Segment Forecasts, 2023 - 2030

Agrigenomics Market Growth & Trends

The global agrigenomics market size is expected to reach USD 7.47 billion by 2030, registering a CAGR of 9.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. Agrigenomics is a multidisciplinary field that leverages advancements in genomics and biotechnology to address challenges in agriculture and contribute to global food security. The application of genomic tools in agriculture has the potential to revolutionize the way we produce and manage crops and livestock.

The integration of genomic information into precision agriculture practices enables farmers to make data-driven decisions about crop management. By understanding the genetic makeup of crops, farmers can optimize the use of resources such as water, fertilizers, and pesticides, leading to more sustainable and efficient farming practices. Increasing food consumption volume due to the increasing population, the growing use of advanced tools and techniques of genome research testing, and rising investments in research & development (R&D) activities by government-funded organizations are some of the key factors positively influencing the market growth.

Agrigenomics can contribute to developing crops and livestock that are more resilient to the impacts of climate change. By understanding the genetic basis of traits related to heat tolerance, drought resistance, and other climate-related factors, agriculture can become more adaptable to changing environmental conditions. Improved crop yields, livestock productivity, and resource utilization contribute to economic benefits for farmers and the agricultural sector as a whole.

North America is experiencing steady growth due to the increasing adoption of high-yielding varieties, as they can reduce the usage of harmful pesticides by enhancing the resistant power during the initial stages. Genotyping within agrigenomics provides breeders and researchers with powerful, cost-effective tools to detect markers associated with complex genetic traits. Strong R&D and innovation of new technologies, coupled with the increasing merger and acquisition (M&A) activities, are the major factors fueling the region's market growth. The greater acceptance of genetically modified (GMO) crops in the U.S. is a result of their perceived benefits, such as increased yields, reduced use of pesticides, and improved crop quality.

Agrigenomics Market Report Highlights

• Based on application, the crop segment is expected to grow with a CAGR of 6.3% from 2023 to 2030. The growth of this segment can be attributed to its increased use in genotyping and next-generation sequencing technologies to study a variety of agricultural species and gain a better understanding of the genetic variation influencing phenotypes
• Based on sequencer, the Sanger segment is expected to witness the fastest CAGR of 5.9% from 2023 to 2030. This growth is attributed to its limited machine cost and its wide usage for research purposes such as Targeting smaller genomics regions in a larger number of samples, sequencing variable regions, and validating results from next-generation sequencing (NGS) studies
• North America region is anticipated to grow with a CAGR of 6.4% from 2023 to 2030. This growth is attributed to the greater adoption of genetically engineered (GE) seed varieties in crops such as corn, upland cotton, soybeans, canola, and sugar beets

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