Molecular Breeding Market Overview
Molecular
Breeding Market Size was valued at USD 3.2 Billion in 2022. The
Molecular Breeding Market Technology is projected to grow from USD 3.7 Billion
in 2023 to USD 14.4 Billion by 2032, exhibiting a compound annual growth rate
(CAGR) of 18.20% during the forecast period (2023 - 2032). The agricultural
benefits of adjuvant treatments, the expansion of developing nations' economy,
and rising R&D costs in the agriculture sector all together, are the key
market drivers enhancing the market growth.
The increasing demand for improved crop varieties is one of
the major drivers of the molecular breeding market. Molecular breeding can be
used to develop crop varieties that are resistant to pests and diseases,
tolerant to abiotic stresses, and have improved yield and quality.
The growing focus on precision agriculture is another major
driver of the market. Precision agriculture is a farming approach that uses
information technology to manage crops more efficiently. Molecular breeding can
be used to develop crop varieties that are tailored to specific growing
conditions.
The development of new molecular breeding technologies is
also contributing to the growth of the market. New technologies, such as
genomic selection and gene editing, are making it possible to develop crop
varieties more quickly and efficiently.
The molecular
breeding market outlook is segmented by crop type, trait, technology,
and region. The crop type segment is further divided into cereals, fruits,
vegetables, and others. The cereals segment is the largest segment, accounting
for most of the market share. This is due to the high demand for cereals in the
global food market.
The trait segment is further divided into yield, resistance
to pests and diseases, tolerance to abiotic stresses, and others. The yield
segment is the largest segment, accounting for most of the market share. This
is due to the high demand for high-yielding crop varieties.
The technology segment is further divided into
marker-assisted selection, genomic selection, and gene editing. The
marker-assisted selection segment is the largest segment, accounting for the
majority of the market share. This is due to the maturity of the technology and
its widespread adoption by plant breeders.
The regional segment includes North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. North America is the
largest market for molecular breeding, followed by Europe and Asia Pacific. The
growth of the North American market is driven by the high demand for improved
crop varieties and the availability of funding for research and development.
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The molecular breeding market is a highly competitive
market, with several major players operating in the market. Some of the key
players include Monsanto, DuPont Pioneer, Syngenta, Bayer Crop Science, and
BASF. These companies are constantly innovating and developing new products and
technologies to meet the growing demand for molecular breeding.
The molecular breeding market is expected to continue to
grow in the coming years, driven by the factors mentioned above. The market is
expected to witness significant growth in Asia Pacific, due to the growing
demand for improved crop varieties and the increasing focus on precision
agriculture in the region.
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Charts, Tables, Figures) Molecular Breeding Market Report: https://www.marketresearchfuture.com/reports/molecular-breeding-market-11790
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