The global plant genomics market is expected to reach a market size of USD 14.47 Billion at a steady CAGR of 7.9% in 2028, according to latest analysis by Emergen Research. The report provides detailed insights into Plant Genomics market trends, industry trends, consumer trends, market size, market share, market revenue growth, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Plant Genomics market size over the forecast period, 2020–2028. The Plant Genomics report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Plant Genomics market share contribution of these countries. In addition, Plant Genomics market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
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Robust growth of the global plant genomics market can be attributed to growing demand for high crop yields. Plant genomics helps in genetic variation identification in phenotypes and molecular pathway characterization in resistance from abiotic and biotic stresses. Varying market trends can be attributed to inclining revenue growth of the global Plant Genomics market going ahead. Plant Genomics Market trends include rising focus by major players on product/service expansion into new and untapped domestic markets and rising competition. Other positive Plant Genomics market trends include rising demand and deployment in respective sectors/industries in major and developing countries. In addition, implementation of favorable government policies, advancements in technology, and steady economic growth across various regions and countries are factors expected to continue to result in further Plant Genomics market trend evolution and changes going ahead.
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In terms of Plant Genomics market share and revenue contribution to the global Plant Genomics market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Plant Genomics market share.
The market intelligence report on the Plant Genomics Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Key Highlights of Report
- In February 2020, AgraFlora Organics International Inc., which is a growth-oriented and diversified company focused on the international cannabis industry, announced that its subsidiary, Propagation Services Canada Inc., has signed an agreement to buy Live-Plant Genetics.
- DNA-based molecular markers find application in detection of genetic polymorphisms at the DNA level. Currently, several molecular markers are used in phylogenetic analysis for evaluating genetic diversity and germplasm identification.
- Herbicide-resistant crops enable farmers to destroy weeds without causing any damage to the crops. Plant genomics uses plants’ intrinsic resistance to selective herbicides to generate tolerance to a wide range of herbicides in various agricultural crops, thereby enabling farmers to efficiently destroy weeds, along with leveraging various other benefits. For example, use of glyphosate-resistant crops decreases soil erosion by reduced or no-tilling.
- Plant genomics market in Asia Pacific region registered the fastest revenue CAGR in 2020, which can be attributed to increased investments by biotechnology companies in food crops and high-value crops to cater to increasing global food demand. Additionally, presence of a larger population in countries in the region, and rising disposable income are factors resulting in increased demand for high-value crops.
- Key players in the market include Agilent Technologies, Neogen Corporation, GENEWIZ, Eurofins Scientific, QIAGEN, LC Sciences, Illumina Inc., KeyGene, Novogene Co. Ltd., and Floragenex Inc.
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Region wise performance of the Plant Genomics industry
North America Plant Genomics market trend scenario has significant impact on other regional market trends. North America Plant Genomics market accounted for largest revenue share in 2020 and is expected to continue to maintain its dominance over other regional markets over the forecast period. Presence of major players in countries in the region is a key factor driving steady change in overall Plant Genomics market trends.
Asia Pacific Plant Genomics market is expected to register comparatively faster revenue growth than other regional markets over the forecast period. This can be attributed to varying Plant Genomics market trend scenarios in countries such as China, India, South Korea, and others. These scenarios with regard to domestic market trends and international market trends and varying impacts play a major role in growth of the Asia Pacific market.
Asia Pacific market share contribution to the global Plant Genomics market is expected to continue to register comparatively faster growth rate than other regional markets between 2020 and 2028. Increasing population, favorable government policies and initiatives, rising disposable income among consumers in countries in the region, influence of Plant Genomics market trends in other countries and regions, and steady economic growth are some key factors driving market revenue growth of the Asia Pacific Plant Genomics market.
Europe Plant Genomics market size and revenue growth is primarily supported by Plant Genomics market trends such as continuous developments in major countries in the region, robust focus on research and development initiatives by major firms, and changing market trends in countries in other major regions.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Plant Genomics industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Plant Genomics market across different regions?
- Who are the major driving forces expected to decide the fate of the Plant Genomics industry worldwide?
- Who are the prominent market players making a mark in the Plant Genomics market with their winning strategies?
- Which Plant Genomics industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Plant Genomics market?
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