Market Overview:
The plant phenotyping market deals with technologies and equipment that are used for measuring and analyzing various physio-morphological constituents of plants and how they respond to environmental changes. Plant phenotyping helps breeders select desired traits in plants and develop new crop varieties with enhanced yield potential and resistance to biotic and abiotic stresses. Advances in plant phenotyping technologies allow high-throughput field-based phenotyping and enable more efficient plant breeding programs.
Market key trends:
The key trend fueling growth of the plant phenotyping market is increasing adoption of plant phenotyping techniques in plant breeding programs. Plant breeders are focusing on developing climate-resilient crop varieties with higher yields to meet rising food demand. Advances in plant phenotyping techniques allow non-destructive and detailed analysis of large number of plant traits and genotypes simultaneously under field conditions. This aids in more precise selection of desired plant varieties in early breeding stages. Growing public-private investments to develop innovative plant phenotyping technologies is another factor promoting growth of this market. Ongoing development of multiparametric, multimodal and high-throughput plant phenotyping platforms will further expand application of these techniques in plant breeding programs over the forecast period.
Porter’s Analysis
Threat of new entrants: High capital requirements for R&D and production facilities deter new players in the plant phenotyping market. However, emergence of new technologies reduce barriers and poses a moderate threat.
Bargaining power of buyers: The presence of numerous players provides choice to buyers but differentiated technologies increase switching costs. Buyers have moderate bargaining power.
Bargaining power of suppliers: Key raw material suppliers have specialized components and technologies which makes switching difficult. Suppliers have moderate bargaining power.
Threat of new substitutes: Limited substitutes are available for plant phenotyping. Researchers continue exploring new techniques posing a low threat.
Competitive rivalry: Intense competition amongst major players to gain market share through new technologies and customized solutions.
SWOT Analysis
Strength: Non-destructive, high-throughput plant phenotyping technologies enable examining large number of plant traits simultaneously.
Weakness: High capital investment requirement and specialized training limits adoption. Phenotypic data analysis remains a challenge.
Opportunity: Growing R&D in plant breeding and need to boost crop yields drives demand. Adoption of robotics and AI expands applications.
Threats: Budget cuts in agricultural research may slow expansion. Environmental factors affect plant responses.
Key Takeaways
The Global Plant Phenotyping Market is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing demand for improved crop varieties with favourable traits. Developing drought-tolerant and high-yielding crop varieties drives adoption of sophisticated phenotyping techniques.
Regional analysis indicated North America currently dominates the global plant phenotyping market, accounting for over 30% share in 2023. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to increasing government focus on boosting agricultural productivity to feed growing population.
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. Major players focus on developing standardized phenotyping platforms to enable high-throughput analysis and customized solutions for niche applications.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
