Growth Opportunities and Trends in the Genetic Engineering Plant Genomics Market: Key Insights for 2025-2034
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How Will the CAGR of the Genetic Engineering Plant Genomics Market Influence Its Overall Growth by 2034?
The market size for plant genomics in genetic engineering has seen a rapid expansion in the past few years. It is projected to expand from a value of $40.08 billion in 2024 to a staggering $46.41 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 15.8%. Several factors contributed to this growth in the historical period, including governmental financial support, advancements in technology, the surging demand for sustainable agriculture methods, population growth, and a rise in public knowledge and acceptance.
In the upcoming years, we can anticipate a swift expansion in the genetic engineering plant genomics market. Predictions state that this market will attain a value of $82.59 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.5%. The expected growth during this forecast period can be linked to regulatory transparency, market development in emerging economies, customization and personalization, incorporation of digital technologies, and adaptation to climate changes. Key trends during this period will comprise of increased use of CRISPR-Cas9 technology, growth in precision farming, heightened demand for biofortified crops, and expansion of gene editing usages beyond merely crops.
Which Macro and Microeconomic Factors Are Accelerating the Growth of the Genetic Engineering Plant Genomics Market?
The escalating apprehensions regarding food security are anticipated to fuel the expansion of the genetic engineering plant genomics market in the future. The concept of food security involves the ability of all people to have regular availability of sufficient, safe, and nutritious food to sustain a vibrant, healthy life. The growing concerns of food security arise due to the impact of climate change, economic fluctuations, and the rising global populace, which pose threats to the sufficiency and availability of food. The application of genetic engineering within plant genomics bolsters food security by creating crops more resistant to various pests, diseases, and environmental strains, thereby boosting agricultural yield and the stability of food supplies. For instance, as reported by the US Department of Agriculture (USDA) in October 2023, an American federal department overseeing forestry, farming, food, and rural economic development, 87.2% (equating to 115.8 million) of US households secured food supply, marking a statistically significant decline from the 89.8% (or 118.5 million) recorded in 2021. Furthermore, approximately 7.7% (equivalent to 10.2 million) of US households faced low food security in 2022. Consequently, the intensifying apprehensions surrounding food security are projected to stimulate the growth of the genetic engineering plant genomics market.
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Who Are the Leading Companies Pioneering Change in the Genetic Engineering Plant Genomics Market?
Major companies operating in the genetic engineering plant genomics market are:
• Home Instead Senior Care Incorporated_x000D_
• Pfizer Inc._x000D_
• F. Hoffmann-La Roche AG_x000D_
• Merck & Co. Inc._x000D_
• Bristol-Myers Squibb Company_x000D_
What Are the Most Significant Trends Transforming the Genetic Engineering Plant Genomics Market Today?
Key players in the genetic engineering plant genomics market are concentrating on technological innovations such as automated molecular breeding genotyping solutions to increase accuracy and streamline crop breeding processes. This technology efficiently processes large quantities of plant samples using computerized technologies and software to simplify genetic analysis for breeding plans. For example, MGI Tech, a biotechnology firm based in China, introduced an entire workflow solution for large-scale, low-pass whole genome sequencing for agriculture in June 2024. The novel system involves an automated full-process product portfolio specifically designed for extensive molecular breeding and genotyping of agricultural diploid species. MGI’s automation platforms boost this low-pass WGS solution, bypassing typical library preparation obstacles by achieving high output with a minimal toolset. It facilitates speedy, financially viable large-scale library preparation and sustains high throughput with the DNBSEQ-T7 sequencer, and medium throughput with the DNBSEQ-G400 benchtop sequencer, making it perfect for agricultural genomics research.
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What Are the Core Segments of the Genetic Engineering Plant Genomics Market, and How Do They Contribute to Growth?
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
Which Regions Are Leading the Charge in Genetic Engineering Plant Genomics Market Development?
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.
How Is the Definition of the Genetic Engineering Plant Genomics Market Impacting Future Growth?
Genetic engineering in plant involves modifying the genetic material of plants to introduce or alter specific traits, while plant genomics is the study of the entire genetic makeup of plants, including their genes and DNA sequences, to understand their functions and interactions. It enhances crop characteristics, improves agricultural productivity, and promotes sustainable farming practices.
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