Market Challenges And Opportunities

Agrigenomics Market- Drivers

Population Growth and Food Security Needs: The global population is constantly growing and is expected to reach around 9.7 Bn people by 2050 according to UN population projections. With more mouths to feed, the pressure on the global food supply will continue to rise in the coming decades. There is an urgent need to boost agricultural productivity and production to meet this growing demand for food. Advanced technologies in agrigenomics can help address the looming food security challenge by enabling the development of new crop varieties that are high-yielding, more resilient to biotic and abiotic stresses, and better adapted to different climatic conditions. Gene editing and other agrigenomics techniques allow targeted enhancement of traits related to yield potential, drought tolerance, pest and disease resistance in major staple crops. This can significantly increase total farm outputs to fulfill the nutrition requirements of the swelling worldwide population. Ensuring food security for future generations is a top priority around the world and agrigenomics offers promising solutions in sustainably intensifying agricultural systems and narrowing the gap between food demand and supply.
Sustainability and Climate Change Adaptation: Another major driver is the rising need to develop more sustainable and climate-resilient agricultural practices. Traditional agricultural methods have placed tremendous strain on natural resources like land, water and biodiversity over the years. Additionally, the impacts of climate change such as changing rainfall patterns, rising temperatures and frequent extreme weather events are posing serious risks to global food production. There is a pressing demand for climate-smart farming approaches that enhance resource efficiency while bolstering crop tolerance against various abiotic stresses. Agrigenomics can play a pivotal role in the transition towards more sustainable food systems through techniques like genome editing, marker-assisted breeding and genomics-led variety selection. These technologies enable creation of varieties that require less water and fertilizer for comparable yields. They also aid in breeding stress-tolerant strains suited for diverse climatic conditions. This helps agriculture sector build resilience against climate vagaries while reducing environmental Footprint of farming activities. These benefits are fueling significant investments in agrigenomics research aimed at developing next-gen climate-ready crop varieties.

Agrigenomics Market- Opportunities

Growing application of CRISPR technology in agrigenomics: CRISPR technology has opened up new avenues for agrigenomics that can be harnessed for significant benefits. As a precision gene editing tool, it allows for targeted improvements in crops more efficiently than previous methods. This means traits that increase biotic and abiotic stress resistance, or enhance yield and nutrition, can be developed and deployed much faster to help address global food security challenges. Several applications of CRISPR in agriculture are already underway and showing promise. For example, researchers have successfully edited the gene responsible for coded domestication in wheat, making it possible to introduce improved traits from wild wheat varieties into domesticated crops (United Nations Food and Agriculture Organization, 2021). Similarly, Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with a complete portfolio of products and services Corteva Agriscience is working on editing cassava genes to increase its resistance to brown streak disease virus, which could help protect small-holder farmers' livelihoods in sub-Saharan Africa (Corteva Agriscience, 2022). As more such innovations come to fruition over the next few years, they will support sustainable intensification of agriculture needed to feed our growing population.

Going forward, CRISPR is also expected to enable targeted gene drives that can alter traits across entire populations, offering new ways to control pests or spread beneficial traits. While regulatory issues still need addressing, such technology could transform pest and disease management if properly implemented. Overall, as the tool's applications broaden to include more complex edits and whole genome redesign, it is likely to substantially raise agrigenomics productivity and positively impact global food security for decades to come. As such, CRISPR presents perhaps the greatest opportunity for growth that the agrigenomics market has seen. If its potential is responsibly harnessed, it could galvanize the industry and establish agriculture on a more sustainable trajectory.

Growing application of agrigenomics in livestock: The application of agrigenomics in the livestock sector presents a huge opportunity for growth in the agrigenomics market. Agrigenomics allows for more precise breeding of livestock with desirable traits like higher growth rates, improved feed efficiency, enhanced meat quality, and disease resistance. This proves beneficial for both farmers and consumers. By utilizing technologies like genomic selection and genome editing, agrigenomics is helping livestock farmers breed animals that are more productive and suitable for changing climate conditions. For example, genomic selection helped dairy farmers in Australia increase milk production in their herds by around 5-10% compared to conventional breeding methods alone. This directly improves farm profits. At the same time, consumers get access to affordable animal proteins that are nutritious and produce sustainably with lower environmental footprint.

The livestock sector worldwide is constantly undergoing changes to meet burgeoning global demand for animal foods amidst challenges of climate change. Agrigenomics tools can play a major role in developing resilient and productive breeds. For instance, researchers in the U.K. utilized genome editing to produce cows that naturally produce less methane - a powerful greenhouse gas - without compromising on milk yields. Advancements like this will be crucial for the livestock industry to reduce its carbon footprint in the coming years.

Many developing countries are showing increasing interest in agrigenomics applications for livestock. For example, according to data by the UN's Food and Agriculture Organization, countries such as Brazil, China, and Mexico have been significantly expanding their research efforts in this area over the past 5 years. As their middle-classes grow and consumption of meat and dairy rises, localized agrigenomics solutions can help farmers in these nations breed animals adapted to local conditions and meet evolving consumer preferences. This points towards immense scope for the global agrigenomics market catering to the livestock sector.

Agrigenomics Market- Restraints

Regulatory uncertainties and intellectual property issues: One of the major restraints faced by players in the agrigenomics market is regulatory uncertainties and intellectual property issues associated with genetically modified crops. Different countries have varying regulations regarding the commercial release and import of GM crops. The complex and stringent approval processes increase the time and costs involved in commercializing GM seeds and plants. Moreover, intellectual property rights over plant varieties developed using genetic engineering techniques continue to remain ambiguous in some regions. Disputes related to patent protection and licensing of biotech seeds negatively impact market confidence. Addressing such regulatory and IP barriers will be crucial for driving long-term growth of the agrigenomics market.
High costs associated with research and product development: The high costs associated with agrigenomics research and new product development also acts as a key restraint on the market. Developing improved plant varieties using advanced genomic techniques such as genome editing, marker-assisted breeding, and genetic engineering is a highly expensive, time-consuming, and complex process. It requires substantial investments in developing genomic tools and technologies, sequencing of plant genomes, performance trials, and regulatory approvals. The overall costs involved in R&D and commercialization have increased manifolds in recent years. This high capital expenditure poses significant challenges, particularly for startups and small firms. Addressing the financial barriers through government funding and partnerships will be important to support continued innovation in this market.

Global Agrigenomics Market Report Snapshots