Global Genetic Engineering Plant Genomics Market – Industry Trends and Forecast to 2030

Global Genetic Engineering Plant Genomics Market, By Type (Molecular Engineering, Genetic Engineering and Genome Editing and Others), Trait (Yield Improvement, Disease Resistance, Herbicide Tolerance and Insect Resistance and Abiotic Stress Tolerance), Objectives (DNA Extraction and Purification, DNA/RNA Sequencing, Genotyping, Gene Expression Profiling, Marker-Assisted Selection, GMO-Trait Purity Testing, Hybrid Purity Testing, Targeted Resequencing, DNA Parentage Testing, QTL Mapping and Genetic Disease), Application (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Sugar Crops, Ornamentals and Alfalfa - (Industry Trends and Forecast to 2023 to 2030.

Genetic Engineering Plant Genomics Market Analysis and Size

The essential factors contributing to the growth of the global genetic engineering plant genomics market in the forecast period of 2023 to 2030 include the increasing demand for improved crop varieties and high quality crop, and surge in plant genome funding fuelling the adoption of innovative technologies and the development and commercialization of important technologies such as microarrays, quantitative polymerase chain reaction (PCRs) and deoxyribonucleic acid (DNA) sequencing technologies and support of government authorities and private investment firms with the purpose of increasing the potential prospects of utilizing genetic information accelerate the global genetic engineering plant genomics market growth.

Data Bridge Market Research analyses that the global genetic engineering plant genomics market which was USD 9.04 billion in 2022, is expected to reach USD 17.46 billion by 2030, growing at a CAGR of 8.7% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in (depth expert analysis, geographically represented company (wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Genetic Engineering Plant Genomics Market Scope and Segmentation

Market Definition

Genetic engineering plant genomics refer to the process of development of new plant lines with enhanced genotypic characteristics by crossing two or more plants with the purpose of producing an offspring that shares the required traits of the parent plants. The aim of the method is to characterize, sequence and study of genetic compositions, functions and networks of entire plant genome. The technological advancement is emerging with the increasing demand for better-quality crops.

Global Genetic Engineering Plant Genomics Market Dynamics

Drivers

• Increasing Global Population

With the world's population continually growing, there is a pressing need to produce more food efficiently. Genetic engineering in plants can help develop crops that are more resistant to pests, diseases, and environmental stress, ultimately increasing agricultural productivity.

• Rising Concerns for Food Security

Genetic engineering can enhance crop yields, reduce losses due to pests and diseases, and make crops more resilient to adverse environmental conditions. This contributes to food security by ensuring a stable and adequate food supply.

Opportunities

• Advancements in Bio-Technology

Advances in biotechnology, including CRISPR-Cas9 and other genome editing techniques, have made it easier and more precise to modify plant genomes. This has accelerated research and development in plant genomics.

• Rising Investments for Research & Development

Increased investment from both public and private sectors in research and development of genetic engineering technologies and applications has driven innovation and market expansion. Moreover, many countries have established regulatory frameworks for genetically modified organisms (GMOs) that provide clear guidelines for the development and commercialization of genetically engineered crops. This regulatory support has facilitated market growth.

Restraints/Challenges

• Regulatory Framework and Hurdles

Strict and evolving regulatory frameworks surrounding genetically modified organisms (GMOs) in many countries can create obstacles for the commercialization and adoption of genetically engineered crops. Compliance with complex and region-specific regulations can be costly and time-consuming.

• Public Perception and Acceptance

Public concerns and skepticism about the safety and long-term effects of GMOs on human health and the environment can limit market acceptance. Negative public sentiment and consumer reluctance to purchase GMO products can impact market growth.

This global genetic engineering plant genomics market report provides details of new recent developments, trade regulations, import (export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global genetic engineering plant genomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In September 2023, Eurofins Agroscience Regulatory gained CIR accreditation. CIR accreditation (CIR – Credit Impot Recherche) is a system implemented by the French Ministry of Research and Innovation to allow private companies to substantially reduce their subcontracting and research costs via the application of a tax reduction that is calculated based on R&D expenditure

Global Genetic Engineering Plant Genomics Market Scope

The global genetic engineering plant genomics market is segmented on the basis of basis of type, trait, objectives and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.          

Type

• Molecular Engineering
• Genetic Engineering and Genome Editing
• Others

Trait

• Yield Improvement
• Disease Resistance
• Herbicide Tolerance and Insect Resistance
• Abiotic Stress Tolerance

Objectives

• DNA Extraction and Purification
• DNA/RNA Sequencing
• Genotyping
• Gene Expression Profiling
• Marker-Assisted Selection
• GMO-Trait Purity Testing
• Hybrid Purity Testing
• Targeted Resequencing
• DNA Parentage Testing
• QTL Mapping
• Genetic Disease

Application

• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Sugar Crops
• Ornamentals
• Alfalfa

Global Genetic Engineering Plant Genomics Market Regional Analysis/Insights

The global genetic engineering plant genomics market is analysed and market size insights and trends are provided by basis of type, trait, objectives and application as referenced above.

The countries covered in the global genetic engineering plant genomics market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Asia-Pacific dominates the genetic engineering plant genomics market and will grow at the highest rate during the forecast period 2023-2030 due to the high investment for biotechnology research on food crops and crops, increasing food requirements, emphasis on reducing poverty, adoption of modern plant breeding techniques and rise in the number of research and development of agricultural biotechnology in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down (stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Genetic Engineering Plant Genomics Market Share Analysis

The global genetic engineering plant genomics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global genetic engineering plant genomics market.

Some of the major players operating in the global genetic engineering plant genomics market are:

• Eurofins Scientific (Luxembourg)
• Illumina Inc (U.S.)
• NRGene (Israel)
• Neogen Corporation (U.S.)
• Agilent (U.S.)
• LC Sciences, LLC (U.S.)
• Traitgenetics GmbH (Germany)
• Keygene (Netherlands)
• Novogene Co. Ltd (China)
• GeneWiz (U.S.)
• BGI (China)
• Genotypic Technology (India)
• ADAMA (Israel)
• Bayer AG (Germany)
• UPL (India)
• Corteva (U.S.)
• Zhejiang Xinan Chemical Industrial Group Co., Ltd (China)
• Nufarm (Australia)
• DuPont (U.S.)
• Syngenta AG (Switzerland)
• VILMORIN & CIE (France)
• SUNTORY HOLDINGS LIMITED (Japan)