The global genetic engineering in agriculture market size was significantly robust in 2021 and is expected to register rapid revenue CAGR over the forecast period. Increasing application of genetic engineering to improve crop yield, reduce need for and use of pesticides, to protect crops from diseases and infections, and to enhance nutrient composition and food quality are among some of the key factors driving steady global market revenue growth. In addition, rapid advancements in next-generation genetic engineering techniques, advent of CRISPR technology, and rising awareness regarding benefits of gene editing in agriculture are some other factors expected to drive revenue growth of the market over the forecast period. Genetic engineering has enabled production of more crops, streamlining of development of new foods with desired traits, and increased growth rate of crops, and these advantages are expected to drive adoption of such advanced solutions in agriculture, and further boost revenue growth of the market going ahead.
Genetic engineering technology has significantly reduced time otherwise required for production of novel and innovative commercially diverse crops. Genetic engineering has emerged as a viable replacement for conventional plant breeding techniques over the last few years, and has become an integral part of the agricultural crop improvement. Genetic engineering is used to modify the genome or genetic material of living organisms and introduces specific novel traits into the plant or animal by direct manipulation of the genome. Genetic engineering in agriculture has resulted in increased crop yield, reduced costs for food, enhanced resistance to crop pests and diseases, and greater food security. Recent advancements in genetic engineering techniques have led to development of crops that mature faster and efficiently tolerate aluminum, boron, salt, drought, and environmental stressors. Technological advancements in genetic engineering have enabled precise control over genetic changes that are introduced in an organism or plants. Gene DNA sequencing, gene mapping, field trial, recombinant DNA technology, and cloning, among other techniques that are widely used to develop genetically modified crops to prevent common nutritional deficiencies in plants. Through genetic engineering, plants can be used to produce pharmacologically active proteins, mammalian antibodies, blood product substitutes, vaccines, hormones, cytokines, and a variety of other therapeutic agents.
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Major Factors Driving Revenue Growth of the Global Genetic Engineering in Agriculture Market:
Genetic engineering offers a quicker and more precise way to breed crops with certain desirable traits, enhanced nutritional value, longer shelf life, and increased resistance to drought, pests, and frost. This has led to reduction in overall production costs, use of less chemical pesticides, and reduced water consumption. Increased crop production enables countries to cater to rising food demand and to produce reliable and effective biotechnology-derived crops and this is a key factor expected to drive revenue growth of the market going ahead. Advancements in biotechnology have led to development of foods that are nutritionally-enriched, contains lower levels of naturally occurring toxicants, reduce allergens in foods, and enhance disease-fighting nutrients in crops. Growing global population and increasing demand for foods, enhanced and improved pest control and weed management, rising profitability of farming through genetically improved crops, freeing up of resources to enable focus on important tasks, and increased safety of farmers are some other key factors expected to drive revenue growth over the forecast period.
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Key companies in the market are focusing on R&D for development of novel and advanced agricultural devices, temperature and moisture sensors, and systems to supply to the growing demand. Moreover, they are offering training and assistance to farmers on how to deploy and utilize novel technologies along with their existing practices to boost farm and livestock productivity. The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
Top companies operating in the market and profiled in the report include:
- Eurofins Scientific
- Illumina, Inc.
- Agilent Technologies
- Qiagen N.V.
- NRgene
- Neogen Corporation
- Keygene
- Traitgenetics GmbH
- Novogene Corporation
- Oxford Nanopore Technologies
Further, the report segments the Genetic Engineering in Agriculture market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Genetic Engineering in Agriculture Market Segmentation:
Technique Outlook:
- DNA & RNA Sequencing
- Genotyping
- GMO-trait Purity Testing
- Gene Expression Profiling
- CRISPR
- Others
Application Outlook:
- Cereals & Grains
- Fruits & Vegetables
- Oilseeds & Pulses
- Others
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