Global Plant Breeding & CRISPR Plant Market - 2023-2030

Global Plant Breeding & CRISPR Plant Market - 2023-2030

Market Overview

Plant Breeding & CRISPR Plant Market was valued at USD XX million in 2022. It is forecasted to reach USD XX million by 2030, growing at a CAGR of 10.87% during the forecast period (2023-2030).

Plant breeding is a technique used by farmers to create new crop varieties, enhance existing ones, and boost yields by modifying the plant genome using molecular or conservatory tools to obtain the desired gene or trait. The site-directed nuclease method is used in plant breeding to target or transform the DNA into the desired DNA. A CRISPR-Cas gene derived from a prokaryote is used in plant breeding to alter the plant genome to produce germplasm with superior and advantageous traits. Crops created through plant breeding or CRISPR technology often have traits like high yield, superior quality to traditional crops, disease resistance, herbicide tolerance, climatic tolerance, and others. Additionally, crops are developed using plant breeding techniques to provide a range of advantages, including higher yield, better quality, disease resistance, and others. Additionally, the best sustainable crop production option is plant breeding and CRISPR technology.

Market DynamicsIncreased demand for food due to an increase in population fuels market expansion

The growing population is one of the main driving factors for plant breeding & CRISPR plants. With the growing population, the demand for food is increasing, and there are a greater number of people to feed, which is increasing the need for new plant breeding technology. The demand for improved plant varieties is increasing among farmers and people to eliminate the food scarcity problem with the growing population globally. Plant breeding & CRISPR plants are the only way to increase crop production with a better-quality feed. Plant breeding is used to enhance crop production and improve crops' nutritional quality for human or animal consumption. Breeding is a technique to change the traits of plants by introducing the desired traits in the plants by targeting and transforming the DNA with extreme perfection.

On the other hand, the market for plant breeding and CRISPR plants is expanding due to ongoing advances in plant biotechnology, which include using a high-throughput sequencing system to increase plant productivity.

Moreover, the growing demand for higher-yielding, higher-quality crops is being caused by shifting consumer lifestyles around the world is driving the market expansion.

However, the increased awareness of the presence of unwanted toxins in plant-breeding crops that may be dangerous to human health is one of the factors limiting the growth of plant breeding and CRISPR plants.

Market Segmentation: The cereals & grains segment accounted for the highest share in global plant breeding & CRISPR plant market

Since the vast majority of plant breeders and plant geneticists worldwide specialize in breeding cereals, the cereals and grains segment held a dominant market share over the anticipated period. The global market for grain and cereal crops has grown quickly due to rising cultivation and shifting dietary habits of people all over the world. In addition, there is a rising need for food grains, increasing pressure on the agricultural industry to produce better crop yields. The breeding techniques are selected based on the biology of the crop, such as self-pollinating or cross-pollinating, the stage of development of genetic research for a specific crop, and the nation where the breeding is conducted.

On the other hand, genetic engineering is the fastest-growing segment in the global plant breeding & CRISPR market. The process of genetic engineering involves changing an organism's genetic makeup. This could be done to eliminate undesirable genes or add new traits. Viruses are used most frequently in genetic engineering to introduce new DNA into cells. A more recent method of genetic engineering known as CRISPR/Cas technology uses CRISPR-associated (Cas) proteins. These proteins support bacterial immunity to viruses. Researchers have developed methods for editing genes in organisms like plants, animals, and human cells using the CRISPR/Cas system.

Geographical Penetration: North America are dominating region during the forecast period

The market for plant breeding and CRISPR plants is expected to expand significantly in North America due to the US's rising industrial demand for corn and soybeans. Additionally, it is anticipated that the region's market for biotechnological plant breeding and CRISPR plants will expand in the coming years due to the rising adoption rate for genetics. Key players in the market are introducing new technologies and processes for better yielding.

On the other hand, throughout the forecast period, Asia-Pacific is anticipated to hold a commanding lead in the market for plant breeding and CRISPR plants, accounting for close to 34% of global sales. The region's main source of growth on the global market is the rapidly expanding demand for commercial seeds and investments made by the private sector. Furthermore, it is anticipated that as plant breeding technology grows in popularity, so will its dominance in the market for CRISPR plants. The increased demand for high-quality field crops in developing nations like India, China, and Indonesia is the main driver of APAC's region's growth.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Bayer AG, BASF, Syngenta Crop Protection AG, Limagrain, Bioceres Crop Solutions, UPL, Yield10 Bioscience, KWS SAAT SE & Co. KGaA, DLF Seeds Ltd. and J.R. Simplot Company. To increase their profits, the top companies in the global market for CRISPR plants and plant breeding are introducing cutting-edge technologies and techniques like conventional and genetic engineering. For instance, In August 2022, Bayer increased its investment by acquiring the majority of CoverCress Inc., a producer of low-carbon sustainable oilseeds. By utilizing the experience of current investors Bunge and Chevron/farmers to potentially commercialize oilseeds into renewable fuels and animal feed that deliver ecosystem benefits through cover crops, Bayer's existing investment in CoverCress Inc., this investment fulfilled Bayer's sustainability commitments can help reduce agricultural carbon emissions and reduce dependence on nitrogen fertilizers. This has aided the company's business expansion.

COVID-19 ImpactPositive impact on the global plant breeding & CRISPR plant market

The COVID-19 pandemic hurt the production of many products, harming the world economy. The COVID-19 pandemic's restrictions on logistics and transportation had a detrimental effect on the plant breeding industry. Lockdowns that lasted for an extended period, mostly in Latin American and Asian nations, disrupted the supply and demand chain and reduced the availability of plant breeding products. Farmers suffered severe losses during the height of the COVID-19 outbreak as crop production significantly decreased as a result of travel restrictions. As a result, farmers are increasingly looking for new crop varieties with higher yields. The majority of farmers are also learning about the advantages provided by the crops developed through plant breeding. The government's efforts to encourage the use of plant breeding techniques have also significantly increased. Governments in developing nations have set up seed banks at the national and village levels to store seeds that have been correctly treated with seed treatment chemicals to prevent seed rotting.

The global plant breeding & CRISPR plant market report would provide an access to approximately 61 market data tables, 55 figures and 116 pages