Meticulous
Research®—a leading global market research firm—has published a report titled
"Plant Breeding Market by Method (Conventional, Biotechnological), Trait
(Herbicide Tolerance, Disease Resistance), Application (Cereals and Grains,
Oilseeds & Pulses, Fruits and Vegetables), Geography—Global Forecast to
2029."
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According
to this latest report, the plant breeding market is projected to reach $33.79
billion by 2029, with a compound annual growth rate (CAGR) of 14.1% from 2022
to 2029. Key factors driving this growth include increased awareness of
sustainable crop production, decreasing costs of genomic solutions, a strong
focus on sustainability, and technological advancements in plant breeding.
Additionally, growing investments from seed companies and supportive
regulations for molecular breeding present significant opportunities for
stakeholders in this market. However, challenges such as the high costs of
modern breeding techniques compared to conventional methods and inadequate
laboratory infrastructure may hinder market growth.
The report
segments the plant breeding market by method (conventional breeding methods,
including hybridization [pedigree, bulk, and other methods] and selection [mass
selection, pure line selection], as well as biotechnological methods like
hybrid breeding, molecular breeding, genetic engineering, and genome editing),
trait (herbicide tolerance, disease resistance, temperature tolerance, drought
resistance, and others), application (cereals & grains, fruits &
vegetables, oilseeds & pulses, turf & ornamentals, 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 analyzes the market at the country level.
In terms of
method, the market is divided into conventional and biotechnological breeding
methods. In 2022, the biotechnological segment is expected to dominate, driven
by the rising adoption of hybrid and molecular breeding techniques and the
increasing cultivation of genetically modified (GM) crops. The demand for crop
genetics and decreasing costs of genetic procedures further fuel the growth of
genetic engineering and genome editing globally.
By trait,
the market includes herbicide tolerance, disease resistance, temperature
tolerance, drought resistance, and others. The herbicide tolerance segment is
projected to hold the largest market share in 2022, due to stringent
regulations on chemical pesticides and the need for pesticide-resistant seeds
amid rising pest attacks during early germination. This segment is also
expected to register the highest CAGR from 2020 to 2029, supported by
initiatives from major plant genetic companies to develop herbicide tolerance
traits for both transgenic and non-transgenic crops, such as BASF SE and
Syngenta AG's innovative Non-transgenic Clearfield herbicide tolerance
technology.
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The market
applications are categorized into cereals & grains, fruits &
vegetables, oilseeds & pulses, turf & ornamentals, and other crop
types. The cereals & grains segment is anticipated to capture the largest
market share in 2022, driven by growing population demands and the economic
significance of crops like corn, wheat, and rice, which encourage the adoption
of advanced breeding technologies.
Geographically,
the plant breeding market is divided into North America, Europe, Asia-Pacific,
Latin America, and the Middle East & Africa. In 2022, North America is
expected to lead the market, followed by Europe, Asia-Pacific, Latin America,
and the Middle East & Africa. This dominance is attributed to the presence
of key market players, substantial investments in research and development, and
widespread availability of diagnostic imaging laboratories. The high adoption
rate of genetic modification techniques in the U.S., particularly for corn and
soybean, also supports the market's growth, alongside increasing cultivation
areas for these crops.
**Key
Players:**
Key players
in the plant breeding market 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.), and Hudson River Biotechnology
(Netherlands).
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