Molecular Breeding - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Molecular Breeding - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Molecular Breeding Market size is estimated at USD 8.23 billion in 2024, and is expected to reach USD 18.91 billion by 2029, growing at a CAGR of 18.10% during the forecast period (2024-2029).

The process of developing new crop varieties almost takes around 20- 25 years but this time limit can be shortened to almost 7-8 years by using biotechnology. Tools like marker-assisted selection (MAS) make it easier and faster for the scientist to select plant traits with more productive results. Molecular breeding technology is in the nascent stage. Netherland and UK witnessed 100% adoption of molecular breeding techniques for new crop variety. Major players in seed companies have been adopting these technologies for improvement in seed varieties. The decline of prices in the genetic and research departments leads to the improvement of the market. Funds flow from private as well as public sectors towards plant breeding and genetic research such as genomic selection in field and vegetable crops and application of MAS will gear up the market in the future. The molecular breeding market is projected to grow highest in the Asia-Pacific region during the forecast period.

Molecular Breeding Market Trends

Increase in production of Corn exponentially

Global demand for food production and consumption increasing at a rapid pace. U.S. average corn yield has increased from 1.6tonnes/hectare in the first half of the 20th century to approximately 9.5tonnes/ha. The dramatic yield improvement is due to the use of hybrid corn, synthetic fertilizers, and the adoption of new farm practices that drives the molecular breeding market. Introduction of molecular breeding traits and development of new breeding technology using DNA based markers created a new and innovative market for molecular breeding. For instance, Over the next two decades, biotechnology traits and marker-assisted breeding have the potential to double the corn yields in the U.S.

North America account for largest share

North America accounted for the largest share in the molecular breeding market in 2017, followed by Europe due to high yield in the production of wheat and maize as awareness among the farmers about the benefits of molecular breeding are increasing which will create a scope in the future market. The presence of major companies in US and Canada followed by Europe has resulted in increasing adoption of the molecular breeding market. The Molecular breeding market in the Asia-Pacific region is projected to grow with highest rate due to increasing investment from the key players in countries such as India, China, and Thailand.

Molecular Breeding Industry Overview

The molecular breeding market is highly fragmented and major players have used many strategies such as pricing analysis of the product, new product development, acquisition and mergers, expansion, the partnership to make a footprint in the market. Major players like Syngenta using advance modified genotyping platforms from "Thermo Fisher Scientific" to provide necessary data for the breeding pipeline to quickly select the new varieties with much better yield potential.

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