Global Genetic Engineering Plant Genomics Market Overview And Statistics for 2024-2033

Genetic Engineering Plant Genomics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 29, 2024 /EINPresswire.com/ -- The global genetic engineering plant genomics market is projected to grow from $34.7 billion in 2023 to $40 billion in 2024, at a CAGR of 15.5%. The market is anticipated to reach $71.57 billion by 2028 at a compound annual growth rate (CAGR) of 15.6%, driven by regulatory clarity, expansion into emerging markets, and integration with digital technologies, which are expected to play crucial roles in the market's robust growth.

Rising Concerns for Food Security Drives Market Growth
The rising concerns for food security are significantly contributing to the growth of the genetic engineering plant genomics market. Food security, which ensures that all individuals have reliable access to adequate, safe, and nutritious food, is under threat due to factors like climate change, economic instability, and a growing global population. Genetic engineering in plant genomics offers a solution by developing crops that are more resilient to pests, diseases, and environmental stresses, thereby increasing agricultural productivity and stabilizing food supply. For instance, according to the US Department of Agriculture (USDA), there was a notable decrease in food security among US households, from 89.8% in 2021 to 87.2% in 2023. This decline underscores the urgency to enhance food security through advanced agricultural practices.

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Key Players and Market Trends
Major companies operating in the genetic engineering plant genomics market include BASF SE, Bayer AG, Thermo Fisher Scientific Inc., and Corteva Inc. These companies are focusing on technological advancements to enhance precision and efficiency in crop breeding processes. One notable technological advancement is the development of automated molecular breeding genotyping solutions, which streamline genetic analysis for breeding programs. In June 2024, MGI Tech launched a whole workflow solution for large-scale low-pass whole genome sequencing in agriculture. This solution, designed for large-scale molecular breeding, allows rapid, cost-effective large-scale library preparation, supporting high throughput for agricultural genomics research.

Emerging Trends in the Market
Several major trends are shaping the future of the genetic engineering plant genomics market. These include the increased adoption of CRISPR-Cas9 technology, growth in precision agriculture practices, rising demand for biofortified crops, and the expansion of gene editing applications beyond traditional crops. As companies continue to innovate, the market is expected to see new applications and improvements that enhance the efficiency and effectiveness of genetic engineering in agriculture.

Segments:
Type: Molecular Engineering, Genetic Engineering And Genome Editing, Other Types
Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance And Insect Resistance, Abiotic Stress Tolerance
Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Sugar Crops, Ornamentals, Alfalfa

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the genetic engineering plant genomics market in 2023, and it is expected to continue leading the market. The region's dominance can be attributed to its large agricultural base, increasing investments in biotechnology, and supportive government policies aimed at improving agricultural productivity and food security.

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Genetic Engineering Plant Genomics Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Genetic Engineering Plant Genomics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on genetic engineering plant genomics market size, genetic engineering plant genomics market drivers and trends, genetic engineering plant genomics market major players, competitors' revenues, genetic engineering plant genomics market positioning, and genetic engineering plant genomics market growth across geographies. The genetic engineering plant genomics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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