Plant Genomics Global Market Report 2024

The plant genomics market has grown strongly in recent years. It will grow from $10.21 billion in 2023 to $11.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The expansion observed in the historical period can be credited to several factors augmented funding allocated to genomic research, efforts directed towards optimizing crop yields, addressing challenges posed by climate change, fostering collaborations in research endeavors, and responding to consumer demands for sustainable agricultural practices.

The plant genomics market is expected to see strong growth in the next few years. It will grow to $15.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. Anticipated growth in the upcoming period is expected to be driven by various factors the utilization of big data analytics in genomics, increased adoption of precision agriculture practices, efforts focused on enhancing the nutritional value of crops, rising concerns regarding global food security, and the continuation of gene expression studies.

The surging demand for genetically modified plants is poised to drive the expansion of the plant genomics market. These plants, altered using recombinant DNA technology, undergo genetic modifications to enhance growth patterns or fortify their resistance to diseases. Such modifications introduce new traits to the plant's genome. For instance, in January 2021, reports from the United States Department of Agriculture (USDA) highlighted Canada's substantial planting of over 11.6 million hectares of genetically modified crops, predominantly canola, soybeans, corn, sugar beets, and alfalfa. This marked a 7% increase from the previous year, with 95% of canola and 76% of soybeans being genetically modified. Consequently, the amplified demand for genetically modified plants fuels the growth of the plant genomics market.

The escalating need for improved food productivity is projected to be a driving force behind the plant genomics market. Food productivity measures the yield of food per unit of land, labor, or capital. Plant genomics, revolutionizing agriculture, plays a pivotal role in boosting food productivity by examining plant genetics to develop high-yield crops. According to the Food and Agriculture Organization's October 2023 report, global cereal production surged by 26 million tons from 2,793 million tons in 2022 to 2,819 million tons in 2023. Moreover, global wheat production witnessed a 3.2% rise from 778.3 million tons in 2021 to 803.1 million tons in 2022. Hence, the mounting demand for enhanced food productivity propels the growth trajectory of the plant genomics market.

Technological advancements form a prominent trend within the plant genomics domain, with major industry players focusing on innovative solutions and technological centers to solidify their market positions. For instance, in September 2021, Nucleome Informatics Pvt. Ltd., an India-based biotechnology company, inaugurated the NKC Center for genomic research, equipped to conduct extensive genomic research projects encompassing high-quality reference genomes, transcriptome and metagenome sequencing, SNP and SV identification through resequencing, SNP chip development, and genotyping of numerous samples. This state-of-the-art laboratory positions Nucleome as India's sole facility capable of comprehensive hybrid genome and transcriptome research.

Major players in the plant genomics market are investing efforts into developing cutting-edge innovations such as CRISPR technology, aiming to gain a competitive edge. CRISPR technology revolutionizes genetic code editing in living organisms. For instance, in June 2021, Qiagen NV launched CRISPR Q-Primer Solutions, facilitating genome editing in humans, plants, and animals. These custom-designed primers amplify the region surrounding the CRISPR editing site, enabling precise assessment of gene-editing outcomes. This technology ensures accurate evaluation of gene-editing efficiency, offering a pivotal tool for researchers across various domains.

In November 2022, Bayer AG, a prominent pharmaceutical and biotechnology company based in Germany, completed the acquisition of Targenomix GmbH for an undisclosed sum. This strategic acquisition positions Bayer to establish a robust platform dedicated to discovering and advancing new crop protection products. Targenomix GmbH, also based in Germany, specializes in providing plant genomic solutions, adding significant value to Bayer's capabilities in this sector.

Major companies operating in the plant genomics market report are Agilent Technologies Inc., Illumina Inc., Eurofins Scientific SE, NRGene Ltd., Keygene N.V., Neogen Corporation, QIAGEN N.V, LC Sciences, TraitGenetics GmbH, Novogene Corporation, Oxford Nanopore Technologies Limited, Genewiz Inc., BGI Group, Genotypic Technology Pvt. Ltd., Floragenex Inc., Biome Makers Spain Inc., Senda Biosciences Inc., AgBiome, NANOCELLECT BIOMEDICAL Inc., bitBiome Inc., GATC Biotech AG, Bionano Genomics, Verinata Health Inc., National Institute of Plant Genome Research, Chinese Academy of Agricultural Sciences, Japan International Research Center for Agricultural Sciences, Korea Institute of Plant Biotechnology, Institute of Plant Sciences Paris-Saclay, Wageningen University & Research, Ghent University.

Asia-Pacific was the largest region in the plant genomics market in 2023. The regions covered in the plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plant genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary branches of plant genomics encompass molecular engineering, genetic engineering, and genome editing. Molecular engineering involves the design and testing of molecular properties, behaviors, and interactions to optimize materials, systems, and processes for specific functions. It encompasses traits such as yield enhancement, disease resistance, and herbicide tolerance, employing technologies such as DNA and RNA sequencing, genotyping, and marker-assisted selection (MAS). These methodologies find diverse applications across cereals, grains, oilseeds, pulses, fruits, vegetables, and other agricultural domains.

The plant genomics market research report provides plant genomics market statistics, including plant genomics industry global market size, regional shares, competitors with a plant genomics market share, detailed plant genomics market segments, market trends and opportunities, and any further data you may need to thrive in the plant genomics industry. This plant genomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plant genomics market includes revenues earned by entities by providing services such as genome sequencing, targeted sequencing, DNA percentage checking, quantitative trait locus (QTL) mapping, and genetic disease identification. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.