Market Size of Molecular Breeding Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.23 Billion |
| Market Size (2029) | USD 18.91 Billion |
| CAGR (2024 - 2029) | 18.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Molecular Breeding Market Analysis
The Molecular Breeding Market size is estimated at USD 8.23 billion in 2024, and is expected to reach USD 18.91 billion by 2029, growing at a CAGR of 18.10% during the forecast period (2024-2029).
The process of developing new crop varieties almost takes around 20- 25 years but this time limit can be shortened to almost 7-8 years by using biotechnology. Tools like marker-assisted selection (MAS) make it easier and faster for the scientist to select plant traits with more productive results. Molecular breeding technology is in the nascent stage. Netherland and UK witnessed 100% adoption of molecular breeding techniques for new crop variety. Major players in seed companies have been adopting these technologies for improvement in seed varieties. The decline of prices in the genetic and research departments leads to the improvement of the market. Funds flow from private as well as public sectors towards plant breeding and genetic research such as genomic selection in field and vegetable crops and application of MAS will gear up the market in the future. The molecular breeding market is projected to grow highest in the Asia-Pacific region during the forecast period.
