Press release
Plant Genetic Engineering Market Revenue Report with Forecast to 2031
According to the latest research by InsightAce Analytic, the global Plant Genetic Engineering market is expected to grow with a CAGR of 7.04% during a forecast period of 2022-2030.
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Planted genetic engineering is a method focused on the future and will develop the agricultural sector. Plant genetic engineering is now more necessary than ever because of its advantages, including increasing crop tolerance to pests and diseases and its ability to tolerate extreme weather. By crossing two or more plants to develop an offspring that shares the necessary qualities of the parent plants, new plant lines with improved genotypic characteristics are developed through genetic engineering. It aids in the identification of genetic variants in phenotypes as well as the characterization of molecular pathways. These advancements have broadened the applications in many facets of breeding, plant biology, and genomic selection.
The development of the business will also be supported by the expansion of greenhouse, vertical, and indoor farms to cultivate seasonal foods all year long. Improving crop variety and yield performance through technological innovation in the agricultural sector would promote the expansion of this sector globally. The demand and supply mismatch is projected to widen with an expanding population and fewer food supplies available. Therefore, crop modification is the best way to close this gap. The variable weather is another issue that is having an impact on the adoption of these strategies. The likelihood of crop failure has increased due to the unanticipated changes in the climate. Therefore, the development of crops to increase resilience and their capacity for survival in harsh environments will assist in market expansion. However, rules concerning long-term health risks posed by these crops may limit the market growth.
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North America is expected to be the major contributor to the plant genetic engineering market over the forecast years. The presence of various enterprises offering various government-recognized solutions to target a wide range of crop applications has aided regional growth. Due to technological improvement and infrastructure availability, early adoptions have also made the region particularly inventive in the modern agriculture industry. In addition, the Asia Pacific plant genetic engineering market is expected to grow significantly during the forecast period. Several projects, as well as collaboration with foreign organizations, will spur regional growth. APAC has tremendous opportunities due to increased agricultural advancements to improve crop productivity and quality.
Major market players operating in the Plant Genetic Engineering market include Agilent Technologies, Illumina, Inc., Keygene N.V., Eurofins Scientific Se, Neogen Corporation, Novogene Corporation Ltd., Oxford Nanopore Technologies Ltd., Nrgene Ltd., Qiagen N.V, and Sgs -Traitgenetics Gmbh.
Recent collaborations and agreements in the market:
• In February 2020, AgraFlora Organics International Inc. subsidiary, Propagation Services Canada Inc., a growth-oriented and diversified business focused on the global market, agreed to acquire Live-Plant Genetics
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Market Segments
Global Plant Genetic Engineering Market, by Trait, 2022-2030 (Value US$ Mn)
• Yield improvement
• Disease resistance
• Herbicide tolerance
• Others
Global Plant Genetic Engineering Market, by Technique, 2022-2030 (Value US$ Mn)
• Artificial Selection
• Cloning
• Gene Splicing
• Others
Global Plant Genetic Engineering Market, by Application, 2022-2030 (Value US$ Mn)
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Other
Global Plant Genetic Engineering Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Plant Genetic Engineering Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Plant Genetic Engineering Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Plant Genetic Engineering Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Plant Genetic Engineering Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Plant Genetic Engineering Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Plant Genetic Engineering market
To receive an industry overview and future trends in the Plant Genetic Engineering market
To analyze the Plant Genetic Engineering market drivers and challenges
To get information on the Plant Genetic Engineering market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Plant Genetic Engineering market industry
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