Global Plant Phenotyping Market Booming to Cross USD 3.3 Billion by 2029

Published | 26 June 2023

Global plant phenotyping market is flourishing due to the growing demand for sustainable agriculture practices, the need to increase crop yields, increasing awareness about the impacts of climate change, continued investments in R&D, and collaborations between researchers, farmers, and technology providers to unlock the full potential of plant phenotyping for improving crop productivity and food security.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global plant phenotyping market size at USD 2.11 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global plant phenotyping market size to grow at a CAGR of 6.7% reaching a value of USD 3.32 billion by 2029. Plant phenotyping is witnessing a growing demand due to the need to develop sustainable agriculture practices and increase crop yields to meet the rising global population's food demands. Plant phenotyping is the science of measuring and analyzing plant characteristics such as growth, development, and response to the environment, using advanced technologies such as imaging, sensors, and data analytics. Advancements in technology, such as high-throughput phenotyping platforms and artificial intelligence algorithms, are revolutionizing the plant phenotyping industry. These technologies enable the collection and analysis of large amounts of data, which can be used to develop more accurate and precise phenotypic measurements and better inform crop breeding programs.

Opportunity: Development of innovative products

Leading market players introduce new items with enhanced capabilities. They take the required procedures to increase device accuracy and overall operation. For example, in October 2020, Analitik, a Swiss manufacturer of plant phenotyping equipment, introduced the new HyperAixpert multisensory plant phenotyping system, which is configurable with a variety of sensors and incorporates machine-learning-based analytical software for data acquisition in a standardized format. Similarly, top companies in the plant phenotyping market used acquisition as a significant development strategy to increase their geographical footprint and improve product technologies. For instance, in January 2021, VIB, a major life sciences institute in Flanders, agreed to buy BASF's Crop Design facility in Belgium from BASF. A plant science and agricultural technology incubator will be established at VIB.

Sample Request @ https://www.blueweaveconsulting.com/report/plant-phenotyping-market/report-sample

Restraint: High price of phenotyping plants

The cost of plant phenotyping equipment is determined by parameters such as automation, throughput, size, and sensor count. It is also affected by the plant phenotyping market for phenotyping tools and the quantity of providers on the market. The expense of plant phenotyping equipment, which is substantially greater than genotyping, has been a key source of worry for customers. Many market companies have entered this business in the last few decades to provide diverse plant phenotyping equipment and services, continuous R&D is necessary to stay in the market and establish plant phenotyping as a well-established approach in plant breeding research.

Impact of COVID-19 on Global Plant Phenotyping Market

The impact of the COVID-19 pandemic on the plant phenotyping market was varied. Due to the pandemic, worldwide supply chains were interrupted, causing delays in the delivery of plant phenotyping equipment and supplies. Many companies in the plant phenotyping market struggled to meet the demand for their products, which was a significant challenge. The pandemic also opened new avenues for the plant phenotyping sector. With more individuals remaining at home across the world, there was a growing interest in gardening and plant production, leading to a rise in demand for plant phenotyping goods and services.

Segmental Information

Global Plant Phenotyping Market - By Application

Based on application, the global plant phenotyping market is segmented into greenhouse, laboratory, and field. The greenhouse segment is expected to be the largest one and to grow at the fastest CAGR during the period in analysis. Greenhouse phenotyping is the practice of doing research in controlled environments that replicate natural conditions, allowing researchers precise control over environmental variables, such as temperature, humidity, light intensity, and CO2 concentration. As a result of expanding population and diminishing arable land, the primary driver of greenhouse sector development is an increasing demand for high-quality, high-yield crops. It has led to an increase in greenhouse technology investments to improve crop yield and quality, pushing the usage of plant phenotyping devices in greenhouses.

Global Plant Phenotyping Market - By Region

Europe held the largest share in the global plant phenotyping market in 2022, due to a rising demand for plant phenotyping in major European economies, including the Netherlands, the United Kingdom, and France. Industrial organization and technology of plant phenotyping procedures are rapidly changing in Europe. Plant phenotyping in Europe is undertaken by small and medium-sized firms, as opposed to other areas where phenotyping is virtually entirely handled by large organizations.

Competitive Landscape

The global plant phenotyping market is highly competitive, with all the players continually competing to gain a larger market share. The key players in the global plant phenotyping market include Delta-T Devices, LemnaTec, Phenospex, Phenomix, CropDesign, WPS, Seed-X, BioVox, Heinz Walz, Agrela Ecosystems, LemnaTec GmbH, Phenospex B.V., Phenomix Corp., CropDesign N.V., WPS B.V., Seed-X GmbH, BioVox Technologies Ltd, and Heinz Walz GmbH.

Don’t miss the business opportunity of the Global Plant Phenotyping Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Plant Phenotyping Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Plant Phenotyping Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

About Us

BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

info@blueweaveconsulting.com