Plant Breeding Market Analysis

Plant Breeding Market Analysis

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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.