Agrigenomics Market Size, Share, Growth, Trends, and Global Industry Analysis: By Sequencing Method (PCR Based, Hybridization-Based, Whole Genome-Based, Restriction Digest, Others) By Services (DNA Fingerprinting, Genotyping, Gene Expression Profiling, Trait Purity Analysis, Genetic Purity Assessment, Others) and Region  

Agrigenomics Market size was valued at US$ 3,742.9 million in 2023 and is poised to grow at a CAGR of 9.6% from 2024-2030. Agrigenomics, also known as agricultural genomics, involves the application of advanced genomic technologies to study the genetic makeup of plants, animals, and microorganisms used in agriculture. Agrigenomics encompasses a range of activities, including genome sequencing, genotyping, gene expression analysis, and bioinformatics. By decoding the genetic makeup of agricultural organisms, scientists can identify specific genes associated with desirable traits like higher yield, improved nutritional content, resistance to pests and diseases, and tolerance to environmental stresses.

The growing global population, coupled with the imperative for sustainable agriculture, serves as a powerful driver propelling the growth of the agrigenomics market. As the world's population expands, the demand for food increases, placing immense pressure on agricultural systems to produce more with limited resources. Agrigenomics offers a transformative solution by enabling the development of crops and livestock with enhanced traits such as higher yields, disease resistance, and resource efficiency. This aligns perfectly with the urgent need for sustainable agricultural practices that minimize environmental impact and reduce reliance on chemical interventions.

Moreover, advancements in genomic technologies play a pivotal role in driving the revenues of the agrigenomics market by significantly enhancing the capabilities and efficiency of genetic analysis. The continuous progress in DNA sequencing techniques, genotyping technologies, and bioinformatics tools has led to faster, more accurate, and cost-effective analysis of the genetic makeup of agricultural organisms that allowed researchers and scientists to decipher the complex genetic codes of crops, livestock, and microorganisms with unprecedented precision and depth.

However, while there have been advancements in genomic technologies, the cost of technologies like DNA sequencing and genotyping can still pose a challenge, particularly for smaller agricultural enterprises or research institutions with limited budgets. This cost factor is identified as a barrier that has the potential to impede the growth of the market. Meanwhile, increasing consumer awareness about the use of genomic technology in the agriculture sector further offers significant opportunities for the growth of the agrigenomics market. Several key market players are launching innovative solutions that further contribute to the market expansion.   For instance, in February 2023, Singrow launched the world’s first climate-resilient strawberry variety.

Agrigenomics Market Key Developments:

• In April 2022, LGC acquired Rapid Genomics to bolster its position in the application of NGS for the high-throughput genotyping market in the agrigenomics market.
• In July 2022, Agri-Genomics start-up Piatrika Biosystems raised $1.2 million in seed funding, led by Ankur Capital, to develop a platform for discovering new sustainable crop varieties.