Meticulous Research®—a leading global market research
company, published a research report titled, ‘Plant Breeding Market by Method
(Conventional, Biotechnological), Trait (Herbicide Tolerance, Disease
Resistance), Application (Cereals and Grains, Oilseed & Pulses, Fruits and
Vegetables), Geography–Global Forecast to 2029’.
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According to this latest publication from Meticulous
Research®, the plant breeding market is expected to reach $33.79 billion by
2029, at a CAGR of 14.1% from 2022 to 2029.The increasing awareness about the
importance of sustainable crop production, the declining costs of genomic
solutions, the growing emphasis on sustainable crop production, and
technological advancements in the plant breeding sectors are some of the
factors driving the growth of the plant breeding market across the globe.
Furthermore, the growing investments from seed companies and the increase in
supportive regulations for molecular breeding are expected to offer significant
growth opportunities for the stakeholders operating in this market. However,
the factors such as the high costs involved in modern breeding techniques
compared to conventional breeding techniques and the lack of standard
laboratory infrastructure hamper the market’s growth.
The plant breeding market is segmented based on method
(conventional breeding method [hybridization {pedigree method, bulk method, and
other hybridization methods}, selection {mass selection, pure line selection},
mutation breeding], biotechnological breeding method [hybrid breeding,
molecular breeding, genetic engineering, and genome editing]), by trait
(herbicides tolerance, disease resistance, temperature tolerance, drought
resistance, and other traits), by application (cereals & grains [maize/corn,
wheat, rice, and other cereals & grains], fruits & vegetables, oilseeds
& pulses, turf & ornaments, and other crop types), and geography (North
America, Europe, Asia-Pacific, Latin America, and the Middle East &
Africa). The study also evaluates industry competitors and analyses the market
at the country level.
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Based on method, the plant breeding market is categorized
into conventional breeding method and biotechnological breeding method. In
2022, the biotechnological breeding method segment is expected to account for
the larger share of the plant breeding market. The large market share of this
segment is attributed to the increasing adoption of hybrid and molecular
breeding techniques and the increase in the cultivation of GM crops worldwide.
Furthermore, the growing demand for crop genetics and the declining costs of
genetic procedures in the past decade drive the demand for genetic engineering
and genome editing worldwide.
Based on traits, the plant breeding market is segmented into
herbicide tolerance, disease resistance, temperature tolerance, drought
resistance, and other traits. In 2022, the herbicide tolerance segment is
expected to account for the largest share of the plant breeding market. The
large market share of this segment is attributed to the stringent regulations
regarding the use of chemical pesticides and the rising instances of pest
attacks during the early germination phase, resulting in an increased need for
pesticide-tolerant seeds. Generally, herbicide tolerance has been one of the
major traits targeted by plant genetic companies for transgenic and
non-transgenic crops. Furthermore, this segment is also slated to register the
highest CAGR during the forecast period of 2020–2029. The growth of this
segment is attributed to the increasing initiatives by major plant genetic
companies to develop herbicide tolerance traits for transgenic and
non-transgenic crops. For instance, the Non-transgenic Clearfield herbicide
tolerance technology, developed by BASF SE (Germany) and Syngenta AG
(Switzerland), is recognized as a groundbreaking innovation in hybrid breeding
technology.
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Based on application, the plant breeding market is segmented
into cereals & grains, fruits & vegetables, oilseeds & pulses, turf
& ornaments, and other crop types. In 2022, the cereals & grains
segment is expected to account for the largest share of the plant breeding
market. The large market share of this segment is attributed to the increasing
demand for cereals & grains from the growing population. Furthermore, the
availability of germplasm for these crops encourages the adoption of advanced
techniques for crop breeding. The economic importance of corn due to its
application in various sectors and the increasing demand for high-quality wheat
& rice in the food sector are factors driving the adoption of hybrid
breeding technologies among cereals and grain seed producers.
Based on geography, the plant breeding market is segmented
into North America, Europe, Asia-Pacific, Latin America, and the Middle East
& Africa. In 2022, North America is expected to account for the largest
share of the plant breeding market, followed by Europe, Asia-Pacific, Latin
America, and the Middle East & Africa. North America’s major market share
is attributed to the presence of key market players, the increasing investments
in R&D activities, and the wide availability of diagnostic imaging laboratories.
Furthermore, the adoption rate of genetic modification techniques in the U.S.
is high due to the growing industrial value of corn & soybean, encouraging
breeders to adopt advanced technologies for better yield. In addition, the
large areas under corn & wheat cultivation and the growing demand for GM
corn & wheat varieties are driving the growth of the plant breeding market
in the U.S.
The key players profiled in the plant breeding market report
include Bayer AG (Germany), Syngenta AG (Switzerland), KWS Group (Germany),
Corteva Agriscience (U.S.), Limagrain (France), BASF SE (Germany), DLF Seeds
A/S (Denmark), Bioceres Crop Solutions (Argentina), UPL Limited (India), Benson
Hill, Inc. (U.S.), Equinom Ltd. (Israel), BioConsortia, Inc. (U.S.), Hudson
River Biotechnology (Netherlands).
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