According to this latest publication from Meticulous Research®, the plant breeding market is expected to reach $33.79 million 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
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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.
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.
