Press release
Global Molecular Breeding Market 2024 : Trends, Business Growth And Major Driving Factors | Illumina Inc., LGC Group Limited, Eurofins Scientific SE, Thermo Fisher Scientific Inc
"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.Molecular Breeding Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.8 billion In 2028 At A CAGR Of 17.4% :
The molecular breeding market size has grown rapidly in recent years. It will grow from $3.45 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to emergence of marker-assisted selection (mas), adoption of biotechnological tools, improvements in phenotyping methods, shift to high-throughput screening, seed industry revolution.
The molecular breeding market size is expected to see rapid growth in the next few years. It will grow to $7.8 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to rise in demand for disease-resistant varieties, focus on climate adaptation, growing population and food security concerns, consumer preferences for quality traits, regulatory support for biotechnology. Major trends in the forecast period include consumer demand for improved varieties, application of machine learning and ai, emergence of bioinformatics solutions, collaboration between public and private sectors, focus on climate-resilient varieties.
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Molecular Breeding Market Major Segments
The molecular breeding market covered in this report is segmented -
1) By Process: QTL Mapping, Marker-Assisted Selection, Marker-Assisted Backcrossing, Genomic Selection, Other Process
2) By Marker Type: Single Sequence Repeats (SSR), Single Nucleotide Polymorphism (SNP), Other Marker Type
3) By Application: Crop Breeding, Livestock Breeding
Key Driver - Increased Cultivation Of Industrial And High-Value Crops Fueling Growth In The Molecular Breeding Market
Increased cultivation of industrial and high-value crops is expected to propel the growth of the molecular breeding market going forward. The cultivation of industrial and high-value crops refers to agribusinesses focusing on crops with a higher value in the market due to their use in various industrial applications. Molecular breeding helps cultivate high-value crops by giving plants superior traits such as disease resistance, high-crop yields, and draught resistance. Hence, the increasing cultivation of industrial and high-value crops will support the growth of the molecular breeding market. For instance, in January 2022, according to the National Agricultural Statistics Service, a United States Department of Agriculture, production of corn rose from 81,313 per 1000 acres in 2020 to 85,388 per 1000 acres in 2021. Further, soybean production has increased from 82,603 per 1000 acres in 2020 to 86,322 per 1000 acres. Therefore, the increased cultivation of industrial and high-value crops is driving the growth of the molecular breeding market.
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Prominent Trend - Key Player's Advancement Revolutionizing The Molecular Breeding Market
Technological advancements are a key trend gaining popularity in the molecular breeding market. Major companies operating in the molecular breeding market are adopting new technologies to sustain their position in the market. For instance, in August 2021, HudsonAlpha Institute for Biotechnology, a US-based biotechnology company, launched a computational tool called Khufu for plant breeding. This tool enables quick and accurate identification and analysis of complex genome variants. This computational tool helps in the identification of genetic factors and selection of beneficial traits for new breeding practices and introduces new and improved characteristics in existing crop lines.
Molecular Breeding Market Players
Major companies operating in the molecular breeding market report are Illumina Inc., LGC Group Limited, Eurofins Scientific SE, Thermo Fisher Scientific Inc., SGS Société Générale de Surveillance S.A., Intertek Group plc, DanBred P/S, LemnaTec GmbH, Charles River Laboratories International Inc., Slipstream It Solutions Private Limited, Fruitbreedomics B.V., The Toro Company LLC, Campbell Scientific Inc., Sentek Technologies Inc., Keygene N.V., KWS SAAT SE & Co. KGaA, Genus plc, Groupe Limagrain, Syngenta Group, Bayer Aktiengesellschaft, Corteva Agriscience, BASF SE, Dow AgroSciences LLC, Monsanto Company, Pioneer Hi-Bred International Inc., Agilent Technologies Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., Merck KGaA Darmstadt, GenScript Biotech Corporation, Genewiz Inc., Eurogentec S.A., Integrated DNA Technologies Inc., Novogene Corporation Limited, BGI Group
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Largest And Fastest Growing Region In The Market
North America was the largest region in the molecular breeding market in 2023. Asia-pacific is expected to be the fastest-growing region in the global molecular breeding market report during the forecast period. The regions covered in the molecular breeding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Molecular Breeding Market Report Structure
3. Molecular Breeding Market Trends And Strategies
4. Molecular Breeding Market - Macro Economic Scenario
5. Molecular Breeding Market Size And Growth
…..
27. Molecular Breeding Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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