The global plant breeding and CRISPR plants market size is expected to grow at more than 14.97% CAGR from 2023 to 2029. It is expected to reach above USD 34.36 billion by 2029 from a little above USD 9.79 billion in 2022.
Plant breeding and CRISPR plants market by modifying the plant genome with the aid of molecular or conservatory tools in order to obtain the desired gene or trait, plant breeding is a method used by farmers to create new crop varieties, enhance existing ones, and increase the yield of their crops. Use of site-directed nucleases in plant breeding allows for extremely precise transformation of DNA into wanted DNA. CRISPR is a technology used in plant breeding, where a prokaryotic gene called CRISPR-CAS is used to modify the genome of the plant to produce germplasm with better and advantageous characteristics. The crop created by plant breeding or CRISPR technology possesses traits like high yield, superior quality to conventional crops, disease resistance, herbicide tolerance, climatic tolerance, and others. Additionally, crops are developed using plant breeding techniques that have a number of advantages, including superior quality, higher yields, and disease resistance. The best choice for sustainable crop production also includes plant breeding and CRISPR technology.
Climate change, rapid population growth, rising food consumption, declining biodiversity, and other factors all have an effect on crop plant productivity and production, which in turn has an impact on agricultural production. Food security, ecosystems, economic stability, and water resources are all seriously threatened by the severe global problem that is climate change. The world is also being impacted by climate change by reduced output; heat and drought in tropical areas of the world hinder crop growth and production. As a result, climate change may have an irreversible negative effect on agricultural productivity and have an impact on global food security. The development of high-yielding and resistant crop varieties against production constraints is a crucial component of plant breeding's role in overcoming these crop plant production barriers. The effects of erratic weather that seriously damages crops are being reduced around the globe through the use of plant breeding techniques. Crops that can withstand adverse weather conditions like drought, torrential rain, and others are being created with the aid of plant breeding to help reduce crop loss. It is anticipated that the market for plant breeding will expand in the future years as a result of the rising demand for new crop varieties that are resistant to extreme climatic conditions.
| ATTRIBUTE | DETAILS |
| Study period | 2023-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2023-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion) |
| Segmentation | By Method, By Application, By Trait, By Region |
| By Method
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| By Application
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| By Trait
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| By Region
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Growing public knowledge of the unintended toxins present in plant breeding crops, which have the potential to be harmful to human health, as well as strict government regulations, are the main factors limiting the growth of plant breeding and CRISPR plants. A further factor slowing the market's development in the anticipated period is the high cost of modern plant breeding techniques compared to traditional techniques.
Every sector in the world suffered greatly as a result of the financial crisis even as the world was going through a typical situation due to the corona virus pandemic. Companies were firing the employees as they were unable to pay their salaries due to financial difficulties. Each sector had affected by the unprecedented events that this unexpected pandemic had triggered. The government’s strict lockdown regulations caused all manufacturing facilities to stop operating, which had steadily reduced the market value of plant breeding and CRISPR plants during the outbreak. Now after first half of 2022, all the markets are recovering from the corona outbreak according to industry experts. As successful vaccination drives around the world have helped people to recover faster and helped them to avoid from getting infected, the markets are now growing in the full speed.
Some key players operating in the global plant breeding and CRISPR plants market include Bayer AG, Sygneta AG, KWS Group, Corteva Agriscience, Limagrain, BASF SE, DLF Seeds A/S, Bioceres Crop Solutions, UPL Limited, Benson Hill Inc., Equinom Ltd., BioConsortia Inc., Hudson River Biotechnology
The significance of sustainable crop production and the lowering cost of genomic solutions are two factors that are anticipated to propel the plant breeding and CRISPR plants market's development.
The global plant breeding and CRISPR plants market size was estimated at USD 11.26 billion in 2021 and is expected to reach USD 34.36 billion in 2029.
The global plant breeding and CRISPR plants market is expected to grow at a compound annual growth rate of 14.97 % from 2023 to 2029 to reach USD 34.36 billion by 2029.
The Asia Pacific (APAC) dominated the global plant breeding and CRISPR plants market with a share of 34% in 2022.
Based on the method, market is segmented into conventional and biotechnological. In terms of market share for plant breeding, the biotechnological breeding technique segment is anticipated to dominate. Due to the growing use of hybrid and molecular breeding techniques in developing nations and the expansion of the cultivation of GM crops globally, this sector has a sizable market share. The increasing adoption of genetic modification methods across a number of nations and the decreasing cost of genetic procedures, which raises demand for genetic engineering and genome editing globally, are the main drivers of this market segment's development. Furthermore, molecular breeding is not subject to any laws or regulations, in contrast to genetic techniques, which supports the expansion of this industry.
Based on the application, market is segmented into cereals & grains, oilseed & pulse and fruits & vegetables. The largest share of the global plant breeding market is anticipated to be held by the cereals & grains sector. Due to the expanding population, there is a rising demand for grains and cereals, which is why this sector has a large market share. Additionally, the accessibility of these crops' germplasm promotes the use of cutting-edge agricultural breeding methods. The growing demand for high-quality wheat and rice in the food industry as well as the economic significance of maize due to its applications in many different industries are pushing cereal and grain seed producers to adopt hybrid breeding techniques.
By trait, market is segmented into herbicide tolerance, disease resistance and yield improvements. In terms of market share for plant breeding, the herbicide tolerance sector is anticipated to lead. Due to strict laws governing the use of chemical pesticides and an increase in pest attacks during the early stages of germination, there is a greater demand for pesticide-tolerant seeds, which is why this section of the market holds such a significant market share. Major plant genetic companies' growing efforts to create traits for transgenic and non-transgenic crops that can withstand herbicides are credited with the development of this market.
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Key competitors from both domestic and international markets compete fiercely in the worldwide global Plant Breeding and CRISPR Plants industry include Bayer AG, Sygneta AG, KWS Group, Corteva Agriscience, Limagrain, BASF SE, DLF Seeds A/S, Bioceres Crop Solutions, UPL Limited, Benson Hill Inc., Equinom Ltd., BioConsortia Inc., Hudson River Biotechnology.
Recent News:The global plant breeding and CRISPR plants market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
Asia Pacific held largest market share of plant breeding and CRISPR plants market with staggering 34 percent. In line with the expanding economic development conditions, there has been an ever-increasing demand for commercial seeds in the Asian market. Additionally, seed firms like Bayer, Monsanto, and Syngenta have been expanding their R&D facilities throughout the Asia Pacific as a result of their growing interest in capturing this potential market. While private investments have skyrocketed, public investments in plant science have been steadily declining. In addition, the expansion of the biotechnology sector in China, Japan, and India turns into a high potential for growth for the plant breeding market over the course of the forecast period.
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