Market Overview:
The plant phenotyping market deals with identifying plant characteristics to enhance crop quality and yield through breeding programs. Plant phenotyping helps analyze plant growth, development, physiology and morphology using tools such as sensors, cameras and software. It provides high-throughput field and greenhouse-based plant analysis for trait identification and selection. This helps accelerate plant breeding programs to develop new hybrids and varieties with desirable traits like disease resistance, nutrient use efficiency and stress tolerance. Phenotyping tools analyze thousands of plants simultaneously under varying environmental conditions to screen new varieties. This enables rapid selection of best performing lines at each breeding cycle.
The plant phenotyping market is estimated to be valued at US$ 227.28 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the plant phenotyping market is the adoption of spectral imaging and analysis techniques. These techniques use electromagnetic spectra in the visible, infrared and other ranges to capture plant characteristics non-destructively. Hyperspectral and multispectral imaging identify pigments, water content and stress indicators in plants. Thermal imaging detects plant water status and photosynthesis. Advanced spectral analysis combined with artificial intelligence is being used for high-throughput screening. Another trend is the development of robotic and unmanned aerial vehicles for field-based plant phenotyping. Drones and robots equipped with sensors can monitor large crop fields and genebanks for traits. This allows analysis of plants under natural field conditions over their entire lifecycle. Such lab to field integrated phenotyping platforms help accelerate the development of climate-resilient crop varieties.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the plant phenotyping market is moderate due to high capital requirements and proprietary technologies owned by existing players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of alternate phenotyping solutions provided by several global service providers.
Bargaining power of suppliers: The bargaining power of suppliers is low as the market has a large number of raw material and component suppliers.
Threat of new substitutes: The threat of new substitutes is low as advanced plant phenotyping techniques have few close substitutes.
Competitive rivalry: High due to presence of numerous global players providing plant phenotyping solutions and technologies.
Key Takeaways
The Global Plant Phenotyping Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand for improved crop varieties and need for improved crop yield. The market size for 2023 is US$ 227.28 Mn.
Regional analysis: North America dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to presence of major players and growing demand for high-yield crops in the region. Asia Pacific is expected to be the fastest growing market owing to increasing government initiatives for development of new crop varieties.
Key players: Key players operating in the plant phenotyping market are 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. BASF SE is one of the leading players in the market providing advanced plant phenotyping systems and services.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
