Agilent Technologies, Eurofins Scientific Se, Illumina, Inc., Keygene N.V., Neogen Corporation, Novogene Corporation Ltd., Nrgene Ltd., Oxford Nanopore Technologies Ltd., Qiagen N.V, and Sgs -Traitgenetics Gmbh, among others are major identified companies in the market.
Brooklyn, New York, Sept. 17, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Plant Genetic Engineering Market will grow with a CAGR value of around 6 percent over the forecast period [2021 to 2026].
Plant Genetic Engineering is a future-focused method to advance the agriculture industry. Benefits such as building crop resistance against pests, disease, and the capability to withstand severe weather conditions have promoted the need for plant genetic engineering.
Expansion in greenhouse farms, vertical farms, and indoor farms to grow seasonal crops throughout the year will also support the industry growth. However, regulations pertaining to long-term health threats caused by these crops may limit the market expansion.
Yield improvement dominated the trait segment
The yield improvement trait is among the most preferred quality which is kept in consideration while opting for crop modification. The increased demand and supply gap has encouraged big farm providers to adopt the plant engineering method to uplift the production and quality of the crop.
Fruits & Vegetables holds the highest potential
The fruits & vegetable applications hold the maximum potential to lead the industry growth. High success rate, increased requirement of seasonal fruits & vegetables throughout the year will induce growth in this segment. Increased penetration of indoor vertical farmings to grow some crops throughout the year due to their significance in daily food will promote technology adoption.
North America led the regional revenue share
The North American plant genetic engineering market share led the overall demand in 2020 and accounted for approximately 40% of the revenue share in the same year. Favorable government regulations about modified crop plantations have positively influenced regional growth. Also, the presence of numerous companies investing in crop modification will support the expansion in the coming years.
Technical advancement and improvised product development will be the prime strategy
Major identified providers in the industry are Eurofins Scientific Se, Agilent Technologies, Illumina, Inc., Neogen Corporation, Keygene N.V., Novogene Corporation Ltd., Oxford Nanopore Technologies Ltd., Qiagen N.V, Sgs -Traitgenetics Gmbh, and Nrgene Ltd, among others.
The global plant genetic engineering company revenue share is concentrated due to presence of few companies having license to offer solutions on an international platform. Technological advancements to improve the offering and achieve maximum production are the prime focus of leading companies.
Trait Outlook (Revenue, USD Million, 2021-2026)
Technique Outlook (Revenue, USD Million, 2021-2026)
Application Outlook (Revenue, USD Million, 2021-2026)
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Regional Outlook (Revenue, USD Million, 2021-2026)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Website: Global Market Estimates
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