SEATTLE, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Global Plant Phenotyping Market to Surpass US$ 386.5 Million by 2028, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global plant phenotyping market is estimated to be valued at US$ 183.8 million in 2021 and is expected to exhibit a CAGR of 11.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Plant Phenotyping Market:
Key trends in the market include increasing demand of plant-based food, rising agricultural expenditure, increasing product launches and approvals, increasing research & development activities, and increasing inorganic strategies such as partnership, collaborations, and others.
Increasing demand of plant-based food drives the growth of plant phenotyping market, as plant phenotyping checks for superior plant breeds that produces better crop yield. For instance, according to statistics published by Plant proteins. co. in January 2021, an increase of 11% in the sales of plant-based foods was reported in U.S in 2019 as compared to 2018 . The statistics also pointed out that there was an increase of 400% in the number of vegetarians in Portugal. Moreover, according to the Vegan Society report, in 2018, the number of Vegans in Great Britain increased by approximately 300% as compared to 2014.
Increasing number of research and development activities for improving the effectiveness of plant phenotyping is expected to boost growth of the plant phenotyping market. For instance, according to an article published by Biomed central (BMC) on March 2017, microphenotron is a technologically advanced plant phenotyping tool developed by researchers at the University of Nottingham, England. Microphenetron is equipped with microtitre plates that can be used to deliver chemical treatments to plant seedlings to support development of root and shoot growth.
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The increasing investments made by market players for expansion of their facilities is expected to drive growth of the plant phenotyping market over the forecast period. For instance, in November 2018, Badische Anilin- und SodaFabrik (BASF), a German chemical manufacturer, invested around 50 million Euro (US$ 59 million) to open a new 2.5 hectare breeding center for cucumbers in Nunhem. This breeding center would recruit plant phenotyping platforms for the assessment of physical and chemical traits of cucumbers, thus fueling the growth of plant phenotyping market.
However, lack of technical awareness, less availability of skilled labor, and lack of agricultural infrastructure in developing and under-developed countries is expected to limit the growth of plant phenotyping over the forecast period. For instance, according to a review article published by the Frontiers in Plant Science journal on September 25, 2019, most of the agricultural land used in European countries such as Turkey, Portugal, and Greece is small-sized due to shortage of funding. Also there is a shortage of natural resources and skilled labor in these Southern European countries. Such limitations in the agriculture sector limits the growth of plant phenotyping market.
Key Market Takeaways:
Rising product launches and approvals, increasing research and development activities, inorganic activities such as collaborations, and others are expected to drive growth of the global plant phenotyping market over the forecast period. For instance, on October 1, 2020, KeyGene, an agribiotech company, collaborated with Tierra Seed Science, an Indian research based seed company to develop premium quality rice with the help of advanced breeding selection techniques such as plant phenotyping. The new improved rice varieties are expected to drive the agricultural sector to a more sustainable era in the near future.
Competitive Landscape:
Key players operating in the global plant phenotyping market include Phenospex, WIWAM, Lemnatec Corporation, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, CropDesign, Rothamsted Research, and BASF SE.
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Market Segmentation:
- Global Plant Phenotyping Market, By Product Type:
- Equipment
- Software
- Data acquisition
- Image analysis
- System control
- Others
- Sensors
- Image sensors
- NDVI sensors
- Temperature sensors
- Others
- Global Plant Phenotyping Market, By Platform/Carrier Type:
- Conveyor-based/modular systems
- Bench-based systems
- Handheld/Portable systems
- Drones
- Global Plant Phenotyping Market, By Automation Type:
- Fully automated
- Semi-automated
- Manual
- Global Plant Phenotyping Market, By Analysis System Type:
- Image analysis systems
- Multispectral scientific cameras
- Canopy analysis systems
- Fluorometers
- Others
- Global Plant Phenotyping Market, By Application:
- High-throughput screening
- Trait identification
- Photosynthetic performance
- Morphology and growth assessment
- Others
- Global Plant Phenotyping Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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