Next Generation Genetic Engineering in Agriculture Market Overview:
The global next-generation genetic engineering in agriculture market size was valued at $756 million in 2020, and is projected to reach $1,298 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.
Next-generation genetic engineering is the process that uses recombinant DNA (rDNA) technology to alter the genetic built of crops. This process based on the posed requirement is also referred to as genetic modification of crops. The key advantages that can be attained using next-generation genetic engineering in crops include higher crop yields, reduced costs for food or drug production, decrease in need for pesticides, and enhancements in nutrient composition & food quality. In addition, other advantages include resistance to pests & disease that the crops suffer from and increased food security. The alteration in the genetic build involves the transfer of new DNA from the parent crop into plant cells. The conventional methods include plant breeding and crossing together plants with relevant characteristics. However, the disadvantage of the conventional method was observed to be the fact that wild variant plants lead to the formation of poor crops. This increased the need for crops to be genetically modified through next-generation genetic engineering. Genetic modification can be made in crops to support the growth of crops even in conditions that are not favorable for growth. This can be done in crops that develop faster and can tolerate salt, drought, frost, aluminum, boron, and other environmental stressors, allowing plants to grow.
The growth of the global next-generation genetic engineering in agriculture market is majorly driven by technological advancements in the field of biotechnology for deriving the plant. The cost-effectiveness of genomics such that the study for next-generation genetic engineering in agriculture for crops can be achieved is anticipated to boost the market growth in the coming years. Surge in demand for improved crop varieties such that crops grown can survive the extreme conditions and other extremities of content of chemicals in the soil notably contributes toward the growth of the global market. In addition, rise in investments for next-generation genetic engineering in agriculture is expected to support higher revenue generation in the coming years.
However, reduced usage of automated instruments for next-generation genetic engineering due to higher cost is anticipated to hamper the growth of the market. Furthermore, higher cost of infrastructure impedes the market growth. Conversely, high market growth potential in emerging economies is providing larger scope for development of the market. Increase in use of novel DNA sequencing technologies is projected to offer remunerative opportunities for the expansion of the global next-generation genetic engineering in agriculture market in the next few years.
The World Health Organization (WHO) on January 30, 2021 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. The outbreak of COVID-19 led to unavailability of labors due to lockdown, leading to reduction in crops production. In addition, blockage in import & export of the crop yields would negatively impact the growth of the next-generation genetic engineering in agriculture market. The market has observed a negative impact due to unavailability of labor in the agriculture segment and lockdown imposed by the government.
Next-generation Genetic Engineering In Agriculture Market Segmentation
The global next-generation genetic engineering in agriculture market is segmented into objective, application, trait, and region. On the basis of objective, the market is categorized into DNA & RNA sequencing, genotyping, GENE expression profiling, GMO-trait purity testing and others. The DNA AND RNA sequencing segment further divided depending on applications such as cereals & grains, oilseeds & pulses, fruits & vegetables and others. The genotyping segment is further classified divided on the basis of applications such as cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The GENE expression profiling segment is further divided by applications such as cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The GMO-trait purity testing further classified depending on applications such as cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The others segment is further segregated depending on applications such as cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The applications covered in the study include cereals & grains, oilseeds & pulses, fruits & vegetables and others. On the basis of trait, the next-generation genetic engineering in agriculture market is segregated into yield improvement, disease resistance, herbicide tolerance, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Objective
The DNA and RNA sequencing segment is expected to lead the market throughout the forecast period.
Segment review
Depending on objective, the DNA & RNA sequencing segment dominated the global next-generation genetic engineering in agriculture market in 2020, and is anticipated to endure this trend during the forecast period. This is attributed to increase in use of DNA sequencing that is based on DNA molecular markers, transgenic technology, and gene expression for agricultural production, which have showed high potential in improving agricultural yields. Advantages associated with DNA & RNA sequencing such as increase in crop yields, reduction in costs for food or drug production, reduction in need for pesticides, augmentations in nutrient composition & food quality, and resistance to pests & disease notably contribute toward the growth of the segment.
By application, the fruits & vegetables segment exhibited highest growth in 2020, and is expected to continue this trend in the coming years. This is attributed to surge in awareness regarding the nutritional benefits of fruits and vegetables and increase in demand for health & wellness foods. In addition, increase in the statistics of working age who require fruits and vegetables for appropriate nutrition is expected to help segment to gain traction during the forecast period.
By Application
The Fruits And Vegetables segment is expected to lead the market throughout the forecast period.
By trait, the herbicide tolerance segment led the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to upsurge in the demand for cost-effective herbicide treatment to treat invasive weeds and increase in usage of herbicide treatment by farmers for prevention of growth of weeds that may destroy the crops
The key players profiled in this report include Eurofins Scientific, Illumina, Inc., Agilent Technologies, Qiagen N.V., NRgene, Neogen Corporation, Keygene, Traitgenetics GmbH, Novogene Corporation, and Oxford Nanopore Technologies.
By Region
Asia-Pacific would exhibit the highest CAGR of 6.8% during 2021-2030
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the next-generation genetic engineering in agriculture market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It covers next-generation genetic engineering in agriculture market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of factors that drive and restrain the growth of the market is provided.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and next-generation genetic engineering in agriculture market growth.
Key Market Segments
By Objective
- DNA & RNA Sequencing
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
- Genotyping
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
- GENE Expression Profiling
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
- GMO-trait Purity Testing
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
- Others
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
By Application
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others
By Trait
- Yield improvement
- Disease resistance
- Herbicide tolerance
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Next Generation Genetic Engineering in Agriculture Market Report Highlights
Aspects | Details |
By OBJECTIVE |
|
By APPLICATION |
|
By TRAIT |
|
By Region |
|
Key Market Players | QIAGEN N.V, NEOGEN CORPORATION, OXFORD NANOPORE TECHNOLOGIES LTD., NOVOGENE CORPORATION LTD., NRGENE LTD., EUROFINS SCIENTIFIC SE, SGS -TRAITGENETICS GMBH, AGILENT TECHNOLOGIES, KEYGENE N.V., .ILLUMINA, INC. |
Analyst Review
Next-generation genetic engineering in agriculture is a technique to genetically modify the plants according to the trait that is required. This involves instruments that can help extract the genetic sequence from the plant, and subsequently modify the genetic composition of crops. Genetic modification further aids to support the growth of crops in conditions that are not favorable for plants to grow.
The development of cost-effective genetic engineering techniques and rise in demand for improved crop varieties are expected to help the market gain traction during the forecast period. Furthermore, increase in investment on R&D is expected to propel the market growth. However, problems related to higher cost of infrastructure and lesser usage of automated instruments due to higher cost hinder the growth of the market
Next Generation Genetic Engineering in Agriculture involves the alteration in genetic build of the crops according to the need
Next Generation Genetic Engineering in Agriculture in agriculture are used for growing required variety of the plants.
he total value of Next Generation Genetic Engineering in Agriculture in agriculture market was $755.7 million in 2020.
The forecast period in the report is from 2021-2030.
The market value of Next Generation Genetic Engineering in Agriculture in agriculture market in 2030 was $1297.9 million.
The base year calculated in the report is 2020.
Increased demand for the Next Generation Genetic Engineering in Agriculture in agriculture for assistance in getting better crop varieties will drive the market over the near future according to the KOLs.
The market has drawn the interest of the civil population, owing to the better varieties in crops with required nutritional properties
By objective, the DNA and RNA sequencing segment holds the maximum market share.
The market in Asia-Pacific is expected to register lucrative CAGR of 6.8% and highest revenue over the forecast period owing to presence of large population base, increase in awareness regarding Next Generation Genetic Engineering in Agriculture in agriculture, and rise in disposable income
Loading Table Of Content...