Report ID: PMRREP34598
Number of Pages: 210
Format: PPT*, PDF, EXCEL
Industry: Healthcare
Published Date: June-2024
The global market is estimated to value at US$97.4 Bn by the end of 2031 from US$58.7 Bn estimated to be recorded in 2024. The market is expected to secure a CAGR of 8.1% in the forthcoming years from 2024 to 2031.
Key Highlights of the Market
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Market Attributes |
Key Insights |
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Market Size (2024E) |
US$58.7 Bn |
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Projected Market Value (2031F) |
US$97.4 Bn |
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Forecast Growth Rate (CAGR 2024-2031) |
7.5% |
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Historical Growth Rate (CAGR 2019-2023) |
6.8% |
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The plant biotechnology services market focuses on improving plant genetic traits to increase productivity, resistance to pests and diseases, and adaptability to environmental changes.
This market covers a wide range of services, including genetic alteration, gene editing (particularly CRISPR/Cas9 technology), plant tissue culture, and marker-assisted breeding.
The need for these services stems from the need for sustainable agricultural methods to meet the food demands of a growing global population while mitigating the effects of climate change on agriculture.
CRISPR/Cas9 technology is gaining popularity because of its capacity to make precise and efficient changes to plant genomes market.
This technology enables the creation of crop varieties with improved characteristics such as higher yield, more nutritional value, and greater resilience to diseases and environmental stress.
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Get a Customized VersionThe plant biotechnology services market has experienced significant growth over the past few decades, fuelled by advancements in genetic engineering, a focus on sustainable agriculture, and the need for higher crop yields to support the growing global population.
Key milestones in this growth include the development and commercialization of genetically modified (GM) crops, which have shown increased resistance to pests and diseases, as well as improved tolerance to environmental stressors.
For example, the introduction of GM crops like Bt cotton, and herbicide-tolerant soybeans has greatly enhanced agricultural productivity, and profitability.
The market is expected to continue its expansion, driven by innovations such as CRISPR/Cas9 gene-editing technology, which enables precise genetic modifications and heralds a new era of crop improvement.
Efforts to develop crops that can endure climate change-induced stresses, such as drought and salinity, are also anticipated to propel growth.
Additionally, increasing regulatory support for biotechnology in agriculture and rising investments in research and development from both public and private sectors will likely boost the adoption of advanced biotechnological solutions.
With sustainability and food security remaining global priorities, the market is set to play a crucial role in the future of agriculture.
Advanced breeding techniques leverage genetic markers to select plants with favorable traits, greatly accelerating the breeding process. This approach is especially beneficial for complex traits influenced by multiple genes.
Genomic selection merges traditional breeding with genomic data to forecast plant performance, making the breeding process both more efficient and accurate.
There is an increasing trend toward creating crops with enhanced nutritional profiles to address malnutrition.
Biofortified crops, like vitamin A-enriched rice and iron-fortified beans, are being developed to deliver essential nutrients and improve public health, particularly in developing nations.
Climate Change, and Environmental Stress
Climate change and environmental stress are major factors driving the plant biotechnology services market.
The growing incidence and severity of extreme weather events, including droughts, floods, and heatwaves, threaten agricultural productivity and food security. These challenges create a need for developing crop varieties that can endure such conditions.
Plant biotechnology provides advanced solutions to enhance crop resilience through genetic modifications and innovations such as drought-resistant, heat-tolerant, and salt-tolerant crops. These technologies help maintain stable agricultural output despite unpredictable environmental conditions.
Additionally, biotechnology reduces reliance on chemical inputs, promoting more sustainable and environmentally friendly farming practices.
As climate change continues to affect global agriculture, the demand for plant biotechnology services is anticipated to rise, propelling the market forward and ensuring future food security.
High Research and Development Costs
High research and development (R&D) costs present a significant challenge for the plant biotechnology services market.
Developing new biotechnological solutions, such as genetically modified crops and advanced gene-editing technologies like CRISPR/Cas9, requires substantial financial investment.
These expenses cover various stages, including initial research, extensive field trials, regulatory compliance, and commercialization.
Obtaining regulatory approval alone can be a lengthy and costly process, necessitating rigorous testing to ensure the safety and efficacy of biotechnological products.
Additionally, the complexity of biotechnology R&D, which often involves sophisticated laboratory equipment, skilled personnel, and extended development timelines, further increases costs.
Smaller companies and research institutions especially may struggle to bear these financial burdens, limiting their capacity to innovate and compete with larger, well-funded corporations.
Developing Climate-Resilient Crops
The creation of climate-resilient crops offers a significant opportunity within the plant biotechnology services market, addressing the urgent need to adapt agriculture to the effects of climate change.
With the increasing frequency and intensity of extreme weather events such as droughts, floods, and heatwaves, the agricultural sector faces significant challenges in maintaining crop productivity and ensuring food security.
Plant biotechnology provides innovative solutions by developing crop varieties that can thrive under these harsh conditions.
These climate-resilient crops not only help stabilize yields in variable environmental conditions but also reduce dependence on chemical inputs like irrigation and fertilizers, promoting more sustainable farming practices.
Data-driven agriculture is poised as a game-changing approach within the market, offering significant future opportunities for companies in this sector.
Utilizing cutting-edge technologies such as genomics, remote sensing, and predictive analytics, plant biotechnology firms can gather precise data on crop genetics, environmental conditions, and farming practices.
This extensive data enables more precise decision-making in breeding programs, optimizing resource allocation, and predicting crop performance across various environmental conditions.
Looking ahead, potential growth areas include refining predictive models to improve crop resilience, developing precision farming methods that minimize environmental impact, and integrating comprehensive big data analytics to streamline agricultural operations.
These advancements not only enhance productivity and sustainability but also position plant biotechnology services companies as leaders in driving efficiency and resilience within global agriculture, addressing critical challenges like climate change and food security.
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Category |
Projected CAGR through 2031 |
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Type - Genomics Services |
7.9% |
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Crop - Cereals & Grains |
8.1% |
Genomics Services Lead the Type-wise Category
Genomics services lead the plant biotechnology services market due to their transformative effects on precision agriculture and crop improvement.
By examining the genetic makeup of plants using advanced techniques like DNA sequencing, genotyping, and gene expression analysis, genomics services provide essential information for breeding superior crop varieties.
This detailed analysis enables targeted trait selection, faster breeding programs, and the development of plants with higher yields, disease resilience, and adaptability to changing environmental conditions.
Additionally, the data-driven insights from genomics services allow researchers and agricultural companies to make informed decisions, optimize breeding strategies, and confidently meet regulatory requirements.
Consequently, genomics services are essential tools driving innovation and progress in plant biotechnology, shaping the future of sustainable agriculture.
The Cereals & Grains Segment Dominant Crop Category
Cereals and grains occupy a significant position in the global market for several reasons. These crops, which include wheat, maize, rice, and barley, are essential to human nutrition and serve as staple foods for billions of people worldwide.
The emphasis on cereals and grains in plant biotechnology services stems from the need to boost their productivity, nutritional value, and resilience to environmental stresses.
Advanced biotechnological methods such as genetic modification, trait mapping, and marker-assisted selection enable researchers and breeders to tackle issues like yield variability, pest and disease resistance, and climate change adaptation.
The increasing demand for sustainable agricultural practices and the development of biofortified crops with enhanced nutritional profiles have further elevated the importance of cereals and grains in plant biotechnology services.
This strategic focus highlights the crucial role these crops play in addressing global food security challenges and fostering innovation in the plant biotechnology sector.
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Region |
Projected CAGR through 2031 |
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North America |
8.2% |
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Europe |
8.9% |
US Plant Biotechnology Services Market in the Bandwagon
The rapid growth of the US market can be attributed to a convergence of factors driving innovation and demand in the agricultural sector.
Technological advancements in biotechnology, including CRISPR/Cas9 gene editing and high-throughput sequencing, have revolutionized plant breeding, enabling the development of crops with enhanced traits such as increased yield, resistance to pests and diseases, and improved nutritional content.
The escalating global demand for sustainable agricultural practices has spurred investment and research in biotechnology solutions that minimize environmental impact while boosting productivity.
Additionally, the supportive regulatory environment in the US fosters a conducive ecosystem for biotech companies, encouraging investment, collaboration, and the commercialization of new biotechnology services.
Demand Outlook Stronger in Europe
There is a strong emphasis on sustainable agriculture and environmental stewardship, prompting increased interest in biotechnology solutions that reduce chemical inputs, enhance crop resilience, and improve resource efficiency.
This focus aligns with the European Green Deal's objectives, fostering a supportive ecosystem for plant biotechnology innovations.
There is a growing need to address food security challenges, optimize crop yields, and ensure nutritional quality in the face of climate change and population growth.
Plant biotechnology services offer tailored solutions such as genetic modification, precision breeding, and biofortification to meet these evolving demands.
The demand for plant biotechnology services in Europe is thus expected to remain robust, driven by a combination of sustainability goals, food security imperatives, regulatory dynamics, and technological advancements.
Collaborations and partnership to develop innovative products and accelerate the grant by regulatory bodies are the key growth strategies followed by the key players in the market.
Companies are continuously investing in research and development to introduce innovative and break-through plant biotechnology services products.
June 2024
GenScript Biotech Corporation, renowned for its relentless innovation in synthetic biology and industry-leading gene synthesis services, announced the launch of its newest offering, GenScript FLASH Gene service, the ultra-fast sequence-to-plasmid (S2P) service. This flagship offering addresses the urgent demand for delivering gene constructs with unmatched speed, quality, and cost-efficiency.
September 2023
A French software company, PrediSurge, achieved €6.5 Million in Series A funding including €4 million in capital. The funding is expected to propel cutting-edge digital twin technology across the cardiovascular landscape
February 2024
Unlearn.AI company secured $50m in a Series C funding round led by Altimeter Capital, for optimising clinical research with digital twin technology and to advance its mission of using AI to reduce trial and error in medicine.
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2018 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Market Segments Covered |
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Key Companies Profiled in the Report |
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Report Coverage |
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Customization & Pricing |
Available upon request |
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The global plant biotechnology services market size is around US$58.7 Bn as of 2024.
Technological expertise, research and development capabilities by excelling in these areas, companies can differentiate themselves in the plant biotech services market, attract customers, foster growth, and maintain a competitive advantage.
Thermo Fisher Scientific Inc., Agilent Technologies, and GenScript Biotech Corporation are some of the leading companies in the plant biotechnology services market.
Cereals & grains segment records a significant market share as of 2024 in the crop category.
The genomics services segment records a significant market share as of 2024.
