Global Plant Breeding And CRISPR Plants Market By Type (Herbicide Tolerance, Disease Resistance, Yield Improvement), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others),...

Market Overview:

The Global Plant Breeding and CRISPR plant market is experiencing rapid growth, driven by technological advancements and increasing demand for higher crop yields. Plant breeding involves techniques used to develop new plant varieties with desirable traits such as disease resistance, drought tolerance and improved nutritional content. CRISPR (Clustered Regulatory Interspaced Short Palindromic Repeats) technology has revolutionised this field by enabling precise genetic modifications, making it easier to develop crops with enhanced characteristics.

The global plant breeding and CRISPR plants market was valued at USD 16.43 billion by 2024 and is projected to reach USD 42.62 billion by 2031, growing at a CAGR of 13.96% from 2024-2031. The market is expanding primarily due to the ongoing advances in plant biotechnology, which involves employing high-throughput sequencing systems to boost plant productivity. In addition, shifting consumer preferences worldwide are driving up demand for higher-yielding, higher-quality crops. This is expected to present opportunities for global market investors over the forecast period.

Premium Insights:

• Plant breeding and CRISPR technology contribute to sustainable agriculture by developing crops that require fewer resources and are more resilient to environmental stressors

• Regulatory support for genetically modified crops varies globally, influencing market growth and adoption rates.

Global Plant Breeding And CRISPR Plants Market Dynamics:

Drivers: Demand for food security,  climate change concerns, disease & pest resistance and improved nutritional content & food quality

-The global population is rising, putting pressure on food production systems. Plant breeding and CRISPR technologies offer tools to develop higher-yielding crops, contributing to food security and addressing global hunger challenges.

-Climate change poses a significant threat to agricultural productivity with factors like drought, heat stress, and salinity affecting crop yields. CRISPR-based breeding can create plants with improved tolerance to these stresses, ensuring stable food production in challenging environments.

-Crop diseases and pests cause substantial yield losses annually. CRISPR editing allows for the development of plants with enhanced resistance to specific diseases and pests, minimizing losses and ensuring better harvests.

-Consumers are increasingly interested in nutritious and high-quality food products. CRISPR technology can be used to enhance the nutritional profile of crops, fortifying them with essential vitamins and minerals.

Restraints: Regulatory hurdles, intellectual property issues & patent concerns and potential for unintended consequences

-The use of CRISPR technology in agriculture faces some regulatory hurdles and public concerns regarding the safety of genetically modified organisms (GMOs). Addressing these concerns through transparent communication and robust regulatory frameworks is crucial.

-The ownership and licensing of CRISPR technology can be complex, with patent disputes potentially hindering innovation and market access for some players.

-The precise nature of CRISPR editing requires careful consideration to avoid unintended consequences on plant genomes and potential ecological impacts. Rigorous research and safety testing are essential.

Opportunities: Advancements in CRISPR technology, public-private partnerships & funding initiatives, expansion into emerging markets and Integration with AI.

-Continuous improvements in CRISPR technologies and delivery systems are enhancing their precision, efficiency, and affordability. This can further accelerate the development of improved plant varieties.

-Collaboration between governments, research institutions, and private companies can provide critical funding and accelerate research and development efforts in CRISPR-based plant breeding.

-Educating consumers about the potential benefits of CRISPR technology and ensuring transparency throughout the development process can foster trust and acceptance.

-Combining CRISPR technology with artificial intelligence and big data analysis can revolutionize plant breeding by enabling the selection of optimal traits and accelerating the development process.

Market By Plant Breeding and CRISPR Plants Type Insights:

Based on Type, the market segmented Conventional Breeding and Biotechnological Methods. the biotechnological breeding method is projected to lead to the plant breeding market. The significant market share of this segment can be attributed to the growing use of hybrid and molecular breeding techniques in developing countries along with the global expansion of genetically modified crop cultivation. The increasing acceptance of genetic modification techniques has led to a rise in global demand and consequently exploration of genetic engineering and genome editing in many countries and the falling cost of genetic treatments.

Based on Trait, the market is segmented into Herbicide Tolerance, Disease Resistance and 

Yield Improvement. Herbicide tolerance has been one of the major traits dominating the market as major plant genetic businesses are increasingly focusing on the development of herbicide tolerance features for both transgenic and non-transgenic crops. One of the ground-breaking developments in hybrid breeding technology, for example, the non-transgenic Clearfield herbicide tolerance technology  developed by BASF and Syngenta

Market By End-Use Insights:

Based on end-use, the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Others. The cereal and grain application segment leads the global market for CRISPR plants and plant breeding. Maize, wheat and rice are the three main cereals that have been bred using state-of-the-art techniques such as molecular breeding and genetic procedures. The application of cutting-edge crop breeding techniques is encouraged by the availability of germplasm for these crops. Due to the economic importance of maize, owing to its use in many industries and the growing demand for premium wheat and rice in the food business, seed producers have adopted hybrid breeding techniques.

Market By Region Insights:

Based on regional coverage, the global plant breeding and CRISPR plants market is segmented into North America,  Asia Pacific, Europe, Latin America and Middle East & Africa. Asia-Pacific is anticipated to lead the market in 2024, in terms of global market share due to growing interest from private investments in plant research, a rising demand for commercial seeds and seed manufacturers the region is anticipated to experience the fastest market growth.

Competitive Scenario:

Key market players include Advanta Seeds Ltd, Bayer AG, Benson Hill Biosystems, Bioconsortia, DLF, Equinom, Hudson River Biotechnology, Groupe Limagrain, KWS Group, Dow, Inc.,  Evogene Ltd, DuPont de Nemours, Inc., Eurofins Scientific,  Land O’lakes, Pacific Biosciences, SGS, and Syngenta.

Scope of Work-Global Plant Breeding And CRISPR Plants Market

Key Market Developments

• August 2022-By acquiring the bulk of CoverCress Inc., a manufacturer of sustainable oilseeds with low carbon emissions, Bayer increased its current investment. With the help of farmers and current investors Bunge and Chevron, oilseeds may be commercialised into animal feed and renewable fuels that benefit ecosystems through cover crops. Bayer has already invested in CoverCress Inc., fulfilling its sustainability commitments and lowering the need for nitrogen fertilisers and agricultural carbon emissions. This has helped the business grow for the company.

• August 2021- A computer tool called Khufu was introduced by the US-based research centre HudsonAlpha Institute for Biotechnology to enhance plant breeding. This tool quickly and accurately locates and evaluates variations in complicated genomes.

Frequently Asked Questions (FAQs)

1. What are the main drivers of the market?

Ans. Key drivers include demand for food security,  climate change concerns, disease & pest resistance and improved nutritional content & food quality

2. What are the primary challenges faced by the market?

Ans. Challenges include regulatory hurdles, intellectual property issues & patent concerns and the potential for unintended consequences

3. Who are the major players in the plant breeding and CRISPR plants market?

Ans. The major players include Advanta Seeds Ltd, Bayer AG, Benson Hill Biosystems, Bioconsortia, DLF, Equinom, Hudson River Biotechnology, Groupe Limagrain, KWS Group, Dow, Inc.,  Evogene Ltd, DuPont de Nemours, Inc., Eurofins Scientific,  Land O’lakes, Pacific Biosciences, SGS, and Syngenta.

4. What opportunities exist in the market?

Ans. Opportunities include advancements in CRISPR technology, public-private partnerships & funding initiatives, expansion into emerging markets and Integration with AI.