Plant Phenotyping Market

Plant Phenotyping Market Is Estimated To Witness High Growth Owing To Increased Demand for Advanced Plant Phenotyping Techniques

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The global plant phenotyping market is estimated to be valued at US$ 183.8 Mn in 2023 and is expected to exhibit a CAGR of 11.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Plant phenotyping is the process of studying and quantifying the physical and biochemical traits of plants. This involves the use of advanced technologies such as image analysis, remote sensing, and sensor-based systems to collect data on plant structure, growth, and development. Plant phenotyping offers several advantages, including the ability to identify and select desirable plant traits, improve crop yields and quality, and enhance plant breeding programs. The growing need for sustainable agriculture practices, as well as the increasing demand for high-yielding and stress-tolerant crops, is driving the demand for plant phenotyping products.

Market Key Trends:
One key trend in the plant phenotyping market is the adoption of high-throughput phenotyping systems. These systems enable the rapid and efficient collection of large-scale phenotypic data, allowing researchers to analyze and understand plant responses to different environmental conditions and stress factors. High-throughput phenotyping systems use advanced imaging and sensing technologies, such as hyperspectral imaging, 3D imaging, and thermal imaging, to capture detailed information about plant structure, physiology, and performance. This trend is driven by the need for a more holistic approach to plant phenotyping, in order to accelerate crop improvement and develop more resilient and productive crop varieties. The adoption of high-throughput phenotyping systems is expected to increase in the coming years, as researchers and breeders seek to improve the efficiency and accuracy of plant phenotyping processes.

PEST Analysis:

Political: The political factors impacting the plant phenotyping market include government regulations and policies related to agriculture and biotechnology. For example, government initiatives promoting sustainable agriculture and the use of advanced technologies can create favorable market conditions.

Economic: The economic factors influencing the plant phenotyping market relate to the overall economic conditions, such as GDP growth, disposable income, and consumer spending patterns. The increasing global population and the need for improved crop productivity are driving the demand for plant phenotyping technologies.

Social: The social factors affecting the market include changing consumer preferences and awareness regarding the importance of sustainable agriculture. There is a growing emphasis on reducing chemical inputs and adopting environmentally-friendly farming practices, which creates opportunities for plant phenotyping technologies.

Technological: The technological factors impacting the market are advancements in imaging technologies, robotics, and data analytics. Plant phenotyping technologies enable precise and non-destructive measurement of plant characteristics, aiding in the selection and breeding of improved crop varieties.

Key Takeaways:

The Global Plant Phenotyping Market Size is expected to witness high growth, exhibiting a CAGR of 11.2% over the forecast period of 2023-2030. This growth can be attributed to several drivers, including the increasing need to enhance crop productivity to meet global food demand, the rising adoption of precision agriculture techniques, and the advancements in plant phenotyping technologies.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the plant phenotyping market. Factors contributing to this growth include the presence of key market players, extensive research and development activities in the field of agriculture, and the adoption of advanced farming techniques for sustainable crop production.

Key players operating in the plant phenotyping market include BASF SE, Phenospex, WIWAM, Lemnatec Corporation, Plant-DiTech, Hiphen, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, CropDesign, and Rothamsted Research. These key players are actively involved in product development, collaborations, and strategic partnerships to gain a competitive edge in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it