Plant Breeding Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Conventional Breeding, and Biotechnological Method (Hybrid Breeding, Molecular Breeding, Genetic Engineering, and Genome Editing)), By Trait (Herbicide Tolerance, Disease Resistance, yield Improvement, and Others), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), By Process (Selection, Hybridization, and Mutation Breeding) and Region Forecast 2019-2030  

Plant Breeding Market size was valued at US$ 18.4 billion in 2023 and is poised to grow at a CAGR of 12.6% from 2024-2030. owing to the increase in demand for improved crop varieties using modern breeding techniques and the exponential fall in the cost of genomic solutions are the major factors that are driving the growth of the market. However, the high cost of modern plant breeding techniques over conventional breeding and the lack of laboratory infrastructure hinder the growth of the market over the forecasted period. Based on Type, the GM crops segment is expected to grow at the highest CAGR over the forecast years owing to the rising adoption of hybrid and molecular breeding techniques in developing countries, and the growing cultivation of GM crops fuels the growth of the market. The global plant breeding market is surging owing to strategic collaborations definitive agreements and expansion to other regions to enhance the growth of the company.

Key Developments:

• In October 2018, KWS SAAT SE and J.R. Simplot Company (US), together founded a new joint venture, Adrevo B.V.
• In September 2018, Limagrain (France) acquired AdvanSeed (Denmark), through its subsidiary Vilmorin & Cie. The acquired company has specialization in the breeding, production, and distribution of hybrid spinach and leafy vegetable seeds.