Press release
Plant Genetic Engineering Market 2024-Worldwide Overview By Top Vendors, Demand, Regional Outlook, Statistics Data and Technology Trends by Artificial Selection, Cloning, Gene Splicing and Others
Plant Genetic Engineering Market
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According to the latest research by InsightAce Analytic, the global Plant Genetic Engineering market is expected to grow with a CAGR of 7.5% during a forecast period of 2023-2031.
The potential of genetic engineering in revolutionizing the agricultural industry is immense. The benefits it offers, such as enhancing crop resistance to pests, diseases, and extreme weather, are more crucial than ever. This innovative approach involves crossing two or more plants to produce progeny with the desired traits, thereby creating new plant lines with enhanced genotypic characteristics. It also aids in understanding molecular pathways and identifying genetic variants in phenotypes. The applications of these advancements have expanded to various aspects of plant biology, genomic selection, and reproduction.
The growth of the enterprise will additionally be bolstered through the establishment of greenhouse, vertical, and indoor farms, enabling the year-round cultivation of seasonal foods. The agricultural sector's global expansion could be facilitated by enhancing crop variety and yield performance via technological innovation. A widening demand-supply disparity is anticipated due to population growth and diminished food supplies. Crop modification is thus the most effective method for bridging this divide. Additionally, the fluctuating climatic conditions are influencing the implementation of these strategies. Due to the unforeseen climate changes, the probability of agricultural failure has increased. Hence, advancing agricultural varieties that enhance their resilience and ability to endure adverse environmental conditions will contribute to the market's growth. Regulations regarding the long-term health hazards that these crops present, however, may impede market expansion.
During the forecast period, North America is anticipated to be the largest contributor to the market for plant genetic engineering.
Regional expansion has been facilitated by the presence of numerous businesses that provide comprehensive, government-approved solutions for a variety of crop applications. Early infrastructure availability and technological advancements have additionally contributed to the region's exceptional ingenuity within the modern agriculture sector. Moreover, it is anticipated that the Asia Pacific plant genetic engineering market will expand substantially over the period of forecast. In addition to collaboration with foreign organizations, a number of initiatives will stimulate regional expansion. APAC is presented with immense prospects as a result of increased agricultural innovations that enhance both the yield and quality of crops.
Major market players operating in the Plant Genetic Engineering market include
Agilent Technologies
Eurofins Scientific Se
IlluminaInc.
Keygene N.V.
Neogen Corporation
Novogene Corporation Ltd.
Nrgene Ltd.
Oxford Nanopore Technologies Ltd.
Qiagen N.V
Sgs -Traitgenetics Gmbh.
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Market Segments
Global Plant Genetic Engineering Market, by Trait, 2024-2031 (Value US$ Mn)
• Yield improvement
• Disease resistance
• Herbicide tolerance
• Others
Global Plant Genetic Engineering Market, by Technique, 2024-2031 (Value US$ Mn)
• Artificial Selection
• Cloning
• Gene Splicing
• Others
Global Plant Genetic Engineering Market, by Application, 2024-2031 (Value US$ Mn)
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Other
Global Plant Genetic Engineering Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Plant Genetic Engineering Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Plant Genetic Engineering Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Plant Genetic Engineering Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Plant Genetic Engineering Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Plant Genetic Engineering Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
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InsightAce Analytic Pvt. Ltd.
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.
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