Plant phenotyping refers to the analysis of plant traits and characteristics through automated processes and analytical tools. It helps gain insights into the morphological, anatomical, physiological, and biochemical characteristics of plants. Plant phenotyping tools and software help evaluate crop varieties for enhanced yield, disease resistance, drought tolerance, and other factors. Technologies like image analysis, sensors, drones, and robots help identify genetic variations that lead to improved crop productivity. The global plant phenotyping market is estimated to be valued at US$ 227.28 Mn in 2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Growing demand for crop yield improvement will drive the plant phenotyping market size over the forecast period. As mentioned in the heading, the need to improve agricultural productivity through high-yielding and stress-tolerant crop varieties is expected to fuel the demand for plant phenotyping tools and services. Plant phenotyping helps evaluate extensive germplasm and optimize breeding programs by precisely identifying traits related to abiotic and biotic stress tolerance as well as higher yields. This enables scientists to develop customized crop varieties for diverse agronomic conditions.
Another factor propelling the market growth is the reducing cost of plant phenotyping technologies. Earlier, phenotyping solutions like image capturing systems and sensors involved high capital investment which limited their adoption. However, advancement in digital imaging solutions, IoT, and artificial intelligence has made plant phenotyping more affordable. Low-cost sensing and imaging devices, robust software, and cloud-based delivery models are making phenotyping accessible to smallholder farms as well. This rising accessibility of plant phenotyping will further support market expansion over the forecast period.
The global plant phenotyping market is segmented into equipment, software, and sensors. The equipment segment is further divided into chambers, greenhouse, and field equipment. Among these, the greenhouse equipment segment dominates the market and accounts for over 40% share. This is because greenhouse equipment allows monitoring plant performance and functions all round the year.
Political: Governments of various countries are supporting plant phenotyping research through funding. This is encouraging market growth. For instance, the Indian government is funding projects to enhance crop yields through innovative agricultural techniques including plant phenotyping.
Economic: Rising global food demand coupled with shrinking arable land is propelling the need for boosting crop yields. Plant phenotyping helps increase productivity and this acts as a major driver for the market.
Social: Growing population and changing dietary patterns are increasing pressure on the agriculture sector. This is creating demand for advanced technologies like plant phenotyping to augment food production.
Technological: Continuous technology advancement is aiding the development of sophisticated sensors, imaging systems and data analytics tools for plant phenotyping. Products are also becoming more affordable and user-friendly.
The global plant phenotyping market is expected to witness high growth.
The Asia Pacific regional market is projected to grow at the fastest pace during the forecast period. China, India, and South Korea are emerging as major contributors in the region. This growth can be attributed to the increasing R&D investments and expanding agriculture sector in these countries.
Key players operating in the plant phenotyping market are BIOTRONIK SE & Co.KG, Medtronic plc., Boston Scientific Corporation. These players are focusing on new product launches and partnerships with research institutes to strengthen their positions in the market. For instance, in 2022, BIOTRONIK partnered with several universities and research centers in Europe for various plant phenotyping projects using its advanced sensor technologies.