The plant
genomics market is estimated to be valued at USD 7.3 billion in 2019
and is projected to reach USD 11.7 billion by 2025, recording a CAGR of 8.3%.
The plant genomics market has high potential in emerging markets, such as Asia
Pacific, due to the increasing awareness about the possible ill-effects of GM
crops or food products in developing countries.
Key Players in the
Market:
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Based on application, the plant genomics market is segmented
into cereals & grains, oilseeds & pulses, fruits & vegetables, and
others. Among cereals & grains, rice, wheat, and corn are majorly bred
using plant breeding & sequencing techniques, to develop high-performing
varieties. Rice, along with wheat and corn, underpins the global food supply.
Field crop science (including breeding, pathology, and economics) has
contributed to a steady increase in crop productivity from decades through the
availability of better varieties and hybrids with more effective pest and
disease control and better production capacities. Molecular engineering
technique development for genetic analysis has led to a great upsurge in the
knowledge of cereal genetics and understanding of the structure and behavior of
cereal genomes.
By type, the plant genomic market is divided into molecular
engineering, genetic engineering, and others. The major plant breeders such as
Bayer (Germany), Monsanto (US), DowDuPont (US), and BASF (Germany) have
invested in plant breeding and been developing seed traits based on molecular
breeding and genetic engineering techniques. Moreover, the favorable regulatory
environment for GM crops in the US has encouraged plant breeders to adopt
biotechnological methods at a larger scale in the country. The use of genetic
engineering techniques for corn and soybean breeding is the highest in the US,
while the adoption of molecular breeding techniques in Canada has been slowly
rising.
Based on objectives, the plant genomics market is segmented
into DNA/RNA sequencing, genotyping, market-assisted selection, gene expression
profiling, GMO-trait purity testing, DNA extraction & purification, and
other objectives. DNA/RNA sequencing is estimated to be the most popular service
required in the plant genomics market. The increasing number of samples tested
per machine run due to efficient technological developments have encouraged
companies to offer these services at cheaper costs. A common trend witnessed
for basic information sequencing in the agricultural industry and among
research professionals is to identify common markers such as plant height for
breeding purposes. However, with the evolution of plant genomics research, the
demand for genotyping tests is projected to surpass the demand for other
objectives by 2025.
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The key players in various countries of the Asia Pacific
region are focusing on directing their investments toward biotechnology
research on food crops and crops of high commercial value to cater to the increasing
food requirements and to reduce poverty, particularly among resource-poor
farming households. The expansion of biotech crop area in these countries has
led to the increasing adoption of plant genomic techniques, such as genetic
engineering and DNA sequencing. Due to these factors, the market in the Asia
Pacific region is projected to record the highest growth from 2019 to 2025.
