Top Growth Trends in the Genetic Engineering Plant Genomics Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGenetic Engineering Plant Genomics Market?
The escalating anxieties regarding food safety are predicted to stimulate the expansion of the genetic engineering plant genomics market. The term food security refers to the consistent availability of sufficient, nutritious, and safe food for every individual to sustain a healthy and active lifestyle. These growing anxieties are primarily influenced by circumstances like climatic changes, financial instability, and the increasing global population, which jeopardize the adequacy and accessibility of food. Genetic engineering in plant genomics boosts food safety by creating crops that are harder for pests, diseases, and environmental pressures, thus enhancing agricultural effectiveness and steadiness in food supply. For example, the US Department of Agriculture (USDA), a federal department in the U.S. for forestry, farming, food, and rural economic development, revealed in October 2023 that 87.2% (115.8 million) of US households secured food security, showing a meaningful decrease from the 89.8% (118.5 million) reported in 2021. In addition, 7.7% (10.2 million) of US households faced low food security in 2022. Hence, the surging anxieties about food safety are anticipated to stimulate the expansion of the genetic engineering plant genomics market.
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#What is the Projected CAGR for the Genetic Engineering Plant Genomics Market Size from 2025 to 2034?
The market size for plant genomics in genetic engineering has experienced a quick expansion in the latest years. The growth is expected from $40.08 billion in 2024 to $46.41 billion in 2025, showing a compound annual growth rate (CAGR) of 15.8%. Reasons for this growth during the historic period can include government financial backing, advances in technology, increased demand for sustainable farming, population growth, as well as greater public awareness and acceptance.
Rapid expansion is anticipated for the genetic engineering plant genomics market in the forthcoming years, with its value predicted to reach $82.59 billion in 2029, marking a compound annual growth rate (CAGR) of 15.5%. This significant growth over the forecast period can be credited to factors such as regulatory clarity, movement into emerging markets, customization and personalization, integration with digital technologies, and adaptability to climate change. Over the same period, we expect to see several key trends including, increased utilization of CRISPR-Cas9 technology, growth in precision agriculture methods, burgeoning demand for biofortified crops, and further extension of gene editing applications beyond crops.
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What Are the Current Market Growth and Trends in theGenetic Engineering Plant Genomics Market That Industry Players Should Watch?
Leading companies in the plant genomics market that specialize in genetic engineering are prioritizing tech advancements such as automated molecular breeding genotyping solutions, in order to increase the accuracy and efficiency of crop breeding procedures. This type of platform, which uses innovative computer technologies and software, allows for effective and precise processing of a large number of plant samples to facilitate genetic analysis in breeding programs. For example, MGI Tech, a biotechnology company from China, in June 2024, introduced a comprehensive workflow solution for massive agricultural whole genome sequencing. This cutting-edge solution comprises a completely automated product range that’s created for massive agricultural molecular breeding and genotyping of diploid species. Thanks to MGI’s automation platforms, the whole genome sequencing solution overcomes the usual limitations of library preparation, offering ultra-high throughput with a minimum set of tools. Furthermore, it facilitates quick, financially viable extensive library preparation and supports high throughput with the DNBSEQ-T7 sequencer and medium throughput with the DNBSEQ-G400 Benchtop sequencer – a perfect fit for research in agricultural genomics.
What Are the Major Market Players Making an Impact on theGenetic Engineering Plant Genomics Market Growth?
Major companies operating in the genetic engineering plant genomics market are BASF SE, Bayer AG, Thermo Fisher Scientific Inc., Suntory Holdings Limited, Corteva Inc., DuPont de Nemours Inc, Eurofins Scientific SE, Agilent Technologies Inc, ADAMA Ltd, Illumina Inc, PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories, Zhejiang Xinan Chemical Industrial Group Co Ltd, UPL Limited, Qiagen N.V., Novogene Co Ltd, KWS SAAT SE & Co KGaA, Vilmorin & Cie, Neogen Corporation, Rubicon Genomics Inc, Verdesian Life Sciences LLC, GeneWiz Inc, Genotypic Technology Pvt Ltd, Syngenta AG, Keygene NV
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How Are the Key Segments of the Genetic Engineering Plant Genomics Market Driving Opportunities and Innovations?
The genetic engineering plant genomics market covered in this report is segmented –
1) By Type: Molecular Engineering, Genetic Engineering And Genome Editing, Other Types
2) By Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance And Insect Resistance, Abiotic Stress Tolerance
3) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Sugar Crops, Ornamentals, Alfalfa
Subsegments:
1) By Molecular Engineering: Gene Synthesis And Cloning, Protein Engineering, Enzyme Engineering, Marker-Assisted Selection
2) By Genetic Engineering And Genome Editing: CRISPR/Cas9 Technology, TALENs (Transcription Activator-Like Effector Nucleases), ZFNs (Zinc Finger Nucleases), RNA Interference (RNAi), Agrobacterium-mediated Transformation
3) By Other Types: Synthetic Biology In Plant Genomics, Epigenetic Engineering, Horizontal Gene Transfer
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGenetic Engineering Plant Genomics Market?# Market Expansion?
Asia-Pacific was the largest region in the genetic engineering plant genomics market in 2023. The regions covered in the genetic engineering plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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