Plant Breeding Market Worth $33.79 Billion by 2029

 

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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Plant Breeding Market Worth $33.79 million by 2029

     

According to a new market 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,’ the plant breeding market is projected to reach $33.79 million by 2029, at a CAGR of 14.1% from 2022 to 2029.

 

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=31-10-2023

Plant breeding techniques are used by cultivators to develop or improve the crop variety and to increase its yield by manipulating the plant genome using conservatory or molecular tools to get the desired gene or trait. Plant breeding techniques use site-directed nucleases to transform or target the DNA into desired DNA with extreme perfection. The crops produced by plant breeding produce higher yields and have better disease resistance. Plant breeding techniques are increasingly being adopted to enable sustainable crop production.

 

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, Middle East, and Africa). The study also evaluates industry competitors and analyses the market at the country level.

The Impact of COVID-19 on the Plant Breeding Market

The COVID-19 pandemic had adverse effects on the global economy as it impacted the production of various products. The constraints on transportation & logistics caused by the COVID-19 pandemic negatively impacted the plant breeding market. The prolonged duration of lockdowns, mainly in Asian and Latin American countries, disrupted the supply and demand chain, affecting the supply of plant breeding products.

Furthermore, the restrictions on movements made it difficult for manufacturers to distribute their plant-breeding agricultural products to farmers, making it difficult for farmers to produce crops. The restrictions on trading and supply of products also impacted the supply chain of global manufacturers, such as Bayer AG (Germany) and Syngenta AG (Switzerland), mainly in Asia-Pacific and Latin America. Thus, during the COVID-19 pandemic, Asian and Latin American countries experienced a decline in the plant breeding market’s growth.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=31-10-2023

When the COVID-19 outbreak was at its peak, farmers incurred huge losses as there was a significant decline in crop production due to restrictions on movement. Thus, there has been a rising demand for new variety crops that offer higher yields among farmers. Most farmers are also becoming aware of the benefits offered by the crops produced from plant breeding. Furthermore, there has been a significant increase in government support to promote the adoption of plant breeding techniques. Thus, governments in developing countries have set up seed banks at the national and village levels to store seeds that have been properly treated with seed treatment chemicals to prevent seed rotting.

Key Findings in the Plant Breeding Market Study:

Based on 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 rising 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, 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.

Quick Buy – Plant Breeding Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/32800010?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=31-10-2023

Based on application, 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.

Some of the key players operating in the plant breeding market report are 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), among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-breeding-market-5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=31-10-2023

Plant Breeding Market Worth $33.79 million by 2029

 

According to a new market 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,’ the plant breeding market is projected to reach $33.79 million by 2029, at a CAGR of 14.1% from 2022 to 2029.

 

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=25-04-2023

Plant breeding techniques are used by cultivators to develop or improve the crop variety and to increase its yield by manipulating the plant genome using conservatory or molecular tools to get the desired gene or trait. Plant breeding techniques use site-directed nucleases to transform or target the DNA into desired DNA with extreme perfection. The crops produced by plant breeding produce higher yields and have better disease resistance. Plant breeding techniques are increasingly being adopted to enable sustainable crop production.

 

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, Middle East, and Africa). The study also evaluates industry competitors and analyses the market at the country level.

 

The Impact of COVID-19 on the Plant Breeding Market

 

The COVID-19 pandemic had adverse effects on the global economy as it impacted the production of various products. The constraints on transportation & logistics caused by the COVID-19 pandemic negatively impacted the plant breeding market. The prolonged duration of lockdowns, mainly in Asian and Latin American countries, disrupted the supply and demand chain, affecting the supply of plant breeding products.

 

Furthermore, the restrictions on movements made it difficult for manufacturers to distribute their plant-breeding agricultural products to farmers, making it difficult for farmers to produce crops. The restrictions on trading and supply of products also impacted the supply chain of global manufacturers, such as Bayer AG (Germany) and Syngenta AG (Switzerland), mainly in Asia-Pacific and Latin America. Thus, during the COVID-19 pandemic, Asian and Latin American countries experienced a decline in the plant breeding market’s growth.

 

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=25-04-2023

 

When the COVID-19 outbreak was at its peak, farmers incurred huge losses as there was a significant decline in crop production due to restrictions on movement. Thus, there has been a rising demand for new variety crops that offer higher yields among farmers. Most farmers are also becoming aware of the benefits offered by the crops produced from plant breeding. Furthermore, there has been a significant increase in government support to promote the adoption of plant breeding techniques. Thus, governments in developing countries have set up seed banks at the national and village levels to store seeds that have been properly treated with seed treatment chemicals to prevent seed rotting.

 

Key Findings in the Plant Breeding Market Study:

 

Based on 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 rising 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, 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.

 

Quick Buy – Plant Breeding Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/32800010?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=25-04-2023

 

Based on application, 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.

 

Some of the key players operating in the plant breeding market report are 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), among others.

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-breeding-market-5387?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=25-04-2023