Plant Breeding Market Size & Share 2024–2032
Market Size by Type (Traditional Breeding and Biotechnological Breeding), by Trait (Herbicide, Tolerance Disease Resistance, Insect Resistance, Yield Improvement), by Distribution Channel & Forecast.
Report ID: GMI10638
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Published Date: August 2024
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Plant Breeding Market Size
Plant Breeding Market size achieved USD 14.8 billion in 2023 and is set to grow at 12.8% CAGR from 2024 to 2032, driven by the growing demand for high-yielding, disease-resistant crops. As the world's population rises and climate change has an impact on agricultural productivity, novel plant breeding techniques are becoming increasingly important. This industry combines traditional breeding methods with sophisticated biotechnology procedures, such as genetic engineering and genome editing, to improve agricultural attributes and assure food security.
Plant Breeding Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The use of genetic engineering and genome editing techniques, such as CRISPR-Cas9, has transformed plant breeding. These technologies enable precise alterations to plant genomes, resulting in the production of crops with better features such as increased nutritional content, pest resistance, and abiotic stress tolerance.
For instance, according to a comparison of major food crop production from 2021-2022 to 2022-2023, oilseed production has increased by 17%, followed by sugarcane (11.63%), cotton (8.20%), and food grains (4.46%). Soybean production climbed by 15.41%, followed by rapeseed and mustard (5.69) and groundnut (1.58%). While foodgrains production reveals that output of maize and coarse cereals climbed by 12%, but that of pulses, gram, and tur fell, with tur production indicating a considerable reduction of 21.56%.
Traditional breeding techniques, including as cross-breeding and selection, have been supplemented and, in some cases, supplanted by biotechnology. The introduction of genetic engineering and genome editing has enabled more precise and quicker breeding results. Regulations have tightened in response to the introduction of genetically modified organisms (GMOs) and genome-edited crops. The industry has had to traverse intricate approval processes to ensure the safety and acceptability of new crop varieties.
Plant Breeding Market Trends
There is a rising emphasis on developing climate-resistant crops that can withstand harsh weather. Plant breeders are focused on qualities such as drought tolerance, heat tolerance, and flood tolerance to ensure agricultural production remains steady in the face of climate change.
The use of digital tools and data analytics in plant breeding is rapidly increasing. High-throughput phenotyping, genetic selection, and artificial intelligence (AI) are being utilized to evaluate massive volumes of data, expedite breeding procedures, and anticipate desirable traits with greater accuracy and efficiency. Consumer demand for healthy and health-promoting foods influences plant breeding objectives. Breeders are developing biofortified crops rich in with essential vitamins and minerals, addressing micronutrient deficiencies in populations worldwide.
Plant Breeding Market Analysis
Traditional breeding held USD 9.35 billion in 2023 and it is anticipated to expand at a 13.1% of CAGR during 2024-2032. Traditional breeding methods remain an important element of the market due to their long-standing dependability and popularity. Despite advances in biotechnology, conventional approaches such as selective breeding and crossbreeding remain critical for creating new plant kinds. These strategies are popular in areas with strict regulations against genetically modified organisms (GMOs) and a high prevalence of organic farming practices. The increasing customer demand for non-GMO and organic products has fueled the continued use of traditional breeding.
The yield improvement segment was valued at USD 4.44 billion in 2023 and garner a 14% CAGR from 2024 to 2032. With the global population projected to reach over 10 billion by 2050, the demand for high-yielding crops is critical. Breeding for yield improvement provides food security by increasing the productivity of agricultural land. The introduction of herbicide-tolerant crops enables farmers to use herbicides to control weeds without harming their crops. This feature is in high demand because it helps to reduce crop losses and the labor expenses involved with weed control.
Cereals & grains are expected to hold USD 20.2 billion by 2032 and are anticipated to expand at a 13.3% CAGR during the 2024-2032. Maize is a staple crop with numerous uses in food, feed, and manufacturing. The market is driven primarily by the need for high-yield and pest-resistant maize cultivars. Wheat breeding, being a significant food source worldwide, is focused on enhancing disease resistance and productivity. The creation of wheat varieties that can grow in many climates is critical for global food security. Barley breeding aims to improve qualities for brewing and animal feed. The increased demand for craft beer and high-quality animal feed is accelerating the development of new barley types.
North America plant breeding market is expected to hold a USD 4.98 billion in 2023 and expected to grow at a 13.4% CAGR. North America's plant breeding sector is distinguished by rapid technology breakthroughs, widespread government assistance, and a significant emphasis on sustainable agriculture. The region is a global leader in agricultural biotechnology, with major investments in research and development (R&D) to improve crop yield and resilience. One of the key motivators in North America is the use of modern biotechnological breeding techniques such as genetic engineering and genome editing. These methods have enabled the creation of crop varieties with better features like herbicide tolerance, disease resistance, and greater yield. The advent of CRISPR-Cas9 and other gene-editing techniques has accelerated breeding, allowing for more accurate and efficient changes to plant genomes.
Plant Breeding Market Share
The plant breeding industry is highly competitive, with a few major businesses dominating the industry. These companies are involved in the development, manufacturing, and commercialization of new crop varieties, utilizing modern breeding technology and considerable R&D resources. Mergers, acquisitions, and strategic alliances are popular tactics for increasing market presence and technology capabilities.
Companies buy smaller breeding enterprises or develop alliances with research institutes to gain access to innovative technologies and germplasm. Leading corporations make significant investments in research and development to create cutting-edge breeding technology and superior crop types. This includes using genomic selection, marker-assisted breeding, and gene editing to produce desirable features more effectively.
Plant Breeding Market Companies
Top companies operating in the plant breeding industry include:
Plant Breeding Industry News
The plant breeding market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Million) (Tons) from 2024 to 2032, for the following segments:
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Market, By Type
Market, By Trait
Market, By Application
The above information is provided for the following regions and countries:
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