Molecular Breeding Market Listed to Grow at 17.11 % CAGR, Led by Crop Breeding and Livestock Breeding

The molecular breeding market is projected to reach USD 3.95 billion by 2023, from USD 1.79 billion in 2018, at a CAGR of 17.11%. It is projected to grow at an exponential rate due to factors such as the rising funds for agrigenomics research, declining cost of genetic solutions, and the benefits imparted by molecular breeding in agricultural yield. However, major factors restraining the growth of molecular breeding are the higher capital investment in comparison to conventional breeding and the lack of infrastructural facilities in the developing economies of Asian countries.

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The global market for molecular breeding is dominated by large players such as Eurofins (Luxembourg), Illumina (US), Thermo Fisher Scientific (US), SGS (Switzerland), and LGC Limited (UK). Other key players in the molecular breeding market include DanBred (Denmark), Intertek Group (UK), LemnaTec (Germany), Charles River (US), Slipstream Automation (New Zealand), and Fruitbreedomics (consortium).

KEY AUDIENCE

• Technology providers, lab instrument & equipment manufacturers
• Biotechnological companies
• Genetic solution providers
• Plant & livestock breeders
• Public and private research institutions/agencies/laboratories
• Commercial and GMO seed manufacturers
• Concerned government authorities, and plant breeding societies and associations

Genomic selection is a recent development in the molecular breeding market, and hence, its awareness and adoption have been gradually increasing, especially across North American and European countries. Genomic selection helps in the rapid selection of superior genotypes and accelerates the breeding cycle.

SCOPE OF THE REPORT

This research report categorizes the molecular breeding market based on process, marker type, application, and region.

BASED ON PROCESS, THE MARKET HAS BEEN SEGMENTED AS FOLLOWS:

• QTL mapping
• Marker-assisted selection (MAS)
• Marker-assisted backcrossing (MABC)
• Genomic selection
• Other processes (marker-assisted recurrent selection (MARS), position gene cloning, and genetic fingerprinting)

BASED ON MARKER, THE MARKET HAS BEEN SEGMENTED AS FOLLOWS:

• Single nucleotide polymorphism (SNP)
• Simple sequence repeats (SSR)
• Other markers (expressed sequence tags (EST), sequence tagged site, and random amplified polymorphic DNA (RAPD))

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BASED ON APPLICATION, THE MARKET HAS BEEN SEGMENTED AS FOLLOWS:

• Crop
o Cereals & grains
 Corn
 Wheat
 Rice
 Others (sorghum, barley, and oats)
o Oilseeds & pulses
 Soybean
 Others (canola, cotton, and sunflower)
o Vegetables

o Other crop types (fruits, ornamentals, and greenhouse & nursery plants)
• Livestock
o Cattle
o Poultry
o Other livestock (equine, swine, aquaculture, and other avian livestock)

The North American market for molecular breeding is driven by the wide-scale application of molecular breeding techniques on crops such as corn and soybean, coupled with the favorable regulations by the US government toward the application of biotechnology in agriculture. The market for molecular breeding in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023 due to the increasing awareness of the benefits from molecular breeding in meeting crop demand.

The breakdown of the primaries on the basis of company type, designation, and region conducted during the research study is as follows:
 By Company type: Tier 1 – 30%, Tier 2 –55%, and Tier 3 – 15%
 By Designation: C-Level – 20%, D-Level – 20%, and Others* – 60%
 By Region: Asia Pacific – 40%, North America –25%, Europe – 20%, and RoW -15%

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The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall molecular breeding market and its subsegments.

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This release was published on openPR.