Plant Breeding Market Size

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.

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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.