Plant Breeding And CRISPR Plants Market Report Size, Share, Growth Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Plant Breeding And CRISPR Plants Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The plant breeding and CRISPR plants market size has grown rapidly in recent years. It will grow from $11.88 billion in 2023 to $13.66 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to increasing global population, crop disease outbreaks, food security concerns, regulatory changes, globalization of food trade.

The plant breeding and CRISPR plants market size is expected to see rapid growth in the next few years. It will grow to $23.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to increasing investment in R&D, rising demand for organic and non-GMO products, climate-smart agriculture, rise in plant-based diets, global water scarcity. Major trends in the forecast period include customized crop varieties, adoption of blockchain technology, multi-trait editing, AI and machine learning in breeding, digital phenotyping.

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Market Drivers and Trends:

The increased demand for improved crops is expected to propel plant breeding and CRISPR market growth. Crop improvement is required to meet the demands of a changing world. With the increased population, climate change, and decreasing land base, there is a need to develop new and innovative crop growth techniques. Plant breeding and the CRISPR method constantly strive to improve crop yield, quality, and tolerance to diseases and pests. For instance, in February 2022, NIFA (National Institute of Food and Agriculture), a US-based federal government body, invested over $14 million in plant breeding for agricultural production and conventional plant breeding to improve crop varieties. These new crop varieties will be more productive, higher in quality, and more resistant to environmental variability. Therefore, the increased demand for the improved crop will drive the growth of the plant breeding and CRISPR plant market.

Technological advancements are a key trend gaining popularity in plant breeding and the CRISPR plant market. Major companies operating in plant breeding and the CRISPR plant market are focusing on plant breeding with rapidly evolving science and technology that uses genetic and biological innovations to develop more efficient crop varieties, enabling key players to gain a competitive advantage in the market. For instance, in August 2021, a US-based research institute called HudsonAlpha Institute for Biotechnology launched a computational tool called Khufu to improve plant breeding. This tool identifies and analyses variants in complex genomes quickly and accurately. Khufu enables extremely accurate SNP identification utilizing very low coverage sequence data by employing a unique methodology. Because less sequence is needed for each person, even small breeding programs may afford whole genome sequencing. The strength and accuracy of trait mapping and integration are considerably increased by the availability of genome-wide markers, which also makes these technologies available to a wider range of breeders and geneticists.

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Major Key Players of the Market:

BASF SE, Bayer AG, Syngenta AG, China National Chemical Corporation, Corteva Inc., Land O'Lakes Inc., JR Simplot Company, Eurofins Scientific SE, Beijing Dabeinong Technology Group Co Ltd., Groupe Limagrain Holding SA, KWS SAAT SE & Co KGaA, BGI Group, Advanta Seeds Pty Limited, Ginkgo Bioworks Holdings Inc., Benson Hill Biosystems Inc., Certis U.S.A. LLC, KeyGene Technology, Inari Agriculture Inc., AgBiome LLC, Tropic Biosciences UK Limited, Precision Biosciences Inc., Editas Medicine Inc., Evogene Limited, Caribou Biosciences Inc., Hudson River Biotechnology B.V., BioConsortia Inc., Pairwise Plants LLC, Calyxt Inc., Cibus Limited, Breeders Trust S.A., Enza Zaden India Private Limited, Rijk Zwaan Zaadteelt en Zaadhandel B.V.

Plant Breeding And CRISPR Plants Market 2024 Key Insights:

• The plant breeding and CRISPR plants market size is expected to see rapid growth in the next few years. It will grow to $23.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%.
• Boosting Plant Breeding For Enhanced Agricultural Production
• Strategic Focus On Genetic And Biological Innovations In Crop Varieties
• Asia-Pacific was the largest region in the plant breeding and CRISPR plants market in 2023

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