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 expected to reach $33.79 billion by 2029, at a CAGR of 14.1% during the forecast period of 2022 to 2029. The growth of this market is expected to be driven by factors such as increasing awareness about the importance of sustainable crop production and the declining costs of genomic solutions. Furthermore, the growing emphasis on sustainable crop production and technological advancements in the plant breeding sectors contributes to the growth of this market. In addition, growing investments from seed companies and supportive regulations for molecular breeding are expected to provide significant growth opportunities for stakeholders operating in the plant breeding market. However, the high costs involved in modern breeding techniques compared to conventional breeding techniques and the lack of standard laboratory infrastructure are expected to hinder the market’s growth.

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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.

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.

Unpredictable Weather Conditions Fuel the Growth of the Plant Breeding Market

Agricultural production is impacted by various factors, including climate change, rapid population growth, increasing demand for food, declining biodiversity, and other factors that simultaneously affect crop plant production and productivity. Climate change is becoming a serious global challenge and poses significant threats to food security, ecosystems, economic stability, and water resources. Climate change is also impacting the world by hampering productivity; the tropical regions of the world suffer from drought and heat, which hampers the development and production of crops. Thus, climate change can adversely affect agricultural productivity to an irreversible level and impact food security globally.

Plant breeding plays a key role in tackling these production hindrances of crop plants by developing high-yielding and resistant crop varieties against production constraints. Plant breeding techniques are being adopted worldwide to mitigate the impacts of unpredictable weather conditions that cause significant damage to crops. With the help of plant breeding, crops with tolerance against climatic conditions such as drought, heavy rainfall, and others are being developed to help prevent crop loss. The demand for new varieties of crops with resistance to harsh climatic conditions is on the rise, which is expected to drive the growth of the plant breeding market in the coming years.

Key Findings in the Plant Breeding Market Study:

In 2022, the Biotechnological Breeding Method Segment to Dominate the Plant Breeding Market

Based on method, the plant breeding market is segmented 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 rising adoption of hybrid and molecular breeding techniques in developing countries and the increase in the cultivation of GM crops worldwide.

This segment is also slated to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising adoption of genetic modification techniques in various countries and the declining cost of genetic procedures, which increases the global demand for genetic engineering and genome editing. Furthermore, unlike genetic techniques, there are no government regulations for molecular breeding, which contributes to the market growth of this segment.

In 2022, the Herbicide Tolerance Segment to Dominate the Plant Breeding Market

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.

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.

In 2022, the Cereals & Grain Segment to Dominate the Plant Breeding Market

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 global 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.

In 2022, North America to Account for the Largest Share of the Plant Breeding Market

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.

However, Asia-Pacific is slated to register the highest CAGR during the forecast period of 2020–2029. There has been an ever-increasing demand for commercial seeds in the Asia-Pacific market, in line with the growing economic growth conditions. Moreover, major seed manufacturers such as Bayer AG (Germany) and Syngenta AG (Switzerland) are increasing their efforts to expand their presence in Asia-Pacific.

Key Players

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).

Scope of the Report

Plant Breeding Market, by Method

• Conventional Breeding Method
  •   Hybridization
    •   Pedigree Method
    •   Bulk Method
    •   Other Hybridization Methods
  •   Selection
    •   Mass Selection
    •   Pure Line Selection
  •  Mutation Breeding
• Biotechnological Breeding Method
  •   Hybrid Breeding
  •   Molecular Breeding
  •   Genetic Engineering
  •   Genome Editing

Plant Breeding Market, by Trait

• Herbicides Tolerance
• Disease Resistance
• Temperature Tolerance
• Drought Resistance
• Other Traits

Plant Breeding Market, by Application

• Cereals & Grains
  •   Wheat
  •   Maize/Corn
  •   Rice
  •   Other Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Turf & Ornaments
• Other Crop Types

Plant Breeding Market, by Geography

• North America
  •   U.S.
  •   Canada
• Europe
  •   Germany
  •   France
  •   U.K.
  •   Italy
  •   Spain
  •   Rest of Europe (RoE)
• Asia-Pacific
  •   China
  •   Japan
  •   India
  •   Australia
  •   Philippines
  •   Thailand
  •   Vietnam
  •   Rest of Asia-Pacific (RoAPAC)
• Latin America
  •   Brazil
  •   Argentina
  •   Mexico
  •   Chile
  •   Rest of Latin America (RoLATAM)
• Middle East & Africa

Key Questions Answered in the Report: