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.
Key Market Drivers
- Increasing demand for food
- Growing population
- Climate change
- Rising costs of agricultural inputs
- Need for sustainable agriculture
The molecular breeding market outlook is segmented by type, application, and region.
- Marker-assisted selection (MAS)
- Genome-wide selection (GWS)
- Transgenic breeding
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Market Players
- Bayer AG
- BASF SE
- DuPont de Nemours, Inc.
- Syngenta AG
- Dow AgroSciences LLC
- KWS SAAT AG
- Pioneer Hi-Bred International, Inc.
- Monsanto Company
- Agrigenetics Inc.
- High cost of technology
- Regulatory hurdles
- Public perception of genetically modified organisms (GMOs)
- Increasing investment in research and development
- Development of new molecular breeding technologies
- Growing adoption of molecular breeding by farmers
- Expansion of molecular breeding into new crops and livestock
- Growing demand for organic and non-GMO products
The molecular breeding market is expected to grow significantly in the coming years, driven by the factors mentioned above. The increasing demand for food, the growing population, and climate change are expected to create a strong demand for molecular breeding technologies. In addition, the development of new molecular breeding technologies and the growing adoption of molecular breeding by farmers are expected to further fuel market growth.
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