Plant Breeding and CRISPR Plants Global Market Report 2024

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 observed in the historical period can be attributed to several factors, including the rising global population, outbreaks of crop diseases, concerns regarding food security, regulatory changes, and the 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 anticipated growth during the forecast period can be ascribed to several key factors, notably the escalating investment in research and development, a surging demand for organic and non-GMO products, the adoption of climate-smart agriculture practices, the upswing in plant-based diets, and the global challenge of water scarcity. In tandem with this growth, several prominent trends are expected to shape the industry landscape.

The anticipated surge in demand for improved crops is expected to drive the growth of the plant breeding and CRISPR market. This necessity arises from the need to meet the challenges of a changing world, marked by an increasing global population, climate change, and diminishing land availability. To address these issues, new and innovative crop growth techniques must be developed. Plant breeding and the CRISPR method are continuously working towards enhancing crop yield, quality, and resistance to diseases and pests. An example of this commitment is evident in the investment made by the National Institute of Food and Agriculture (NIFA), a U.S. federal government body, which allocated over $14 million in February 2022 for plant breeding in agricultural production and conventional plant breeding. The goal is to improve crop varieties, making them more productive, higher in quality, and more resilient to environmental variations. Consequently, the increased demand for improved crops is expected to propel the growth of the plant breeding and CRISPR plant market.

The growing awareness of environmental concerns is also set to drive the expansion of the plant breeding and CRISPR market. Environmental issues encompass a spectrum of challenges, including the depletion and degradation of natural resources, pollution, climate change, and other factors that pose threats to ecosystems and human well-being. Plant breeding and CRISPR contribute to sustainable agriculture by addressing these concerns through the development of crops with enhanced resilience, reduced resource requirements, and improved adaptability to changing climatic conditions. As an illustration, in January 2023, Earth.org reported that the United States emitted approximately 67 million tons of carbon dioxide in 2021, ranking as the world's second-largest emitter, mainly from transportation and other sources. This underscores the importance of adopting practices that mitigate environmental impact. Consequently, the growing awareness of environmental concerns is expected to drive the growth of the plant breeding and CRISPR plant market.

Technological progress is emerging as a prominent trend in both plant breeding and the CRISPR plant market. Leading companies within these domains are directing their efforts toward leveraging the swiftly advancing realms of science and technology. These endeavors involve the application of genetic and biological innovations to create more effective crop varieties, affording key players a competitive edge. An illustrative case is the introduction of the computational tool "Khufu" by the HudsonAlpha Institute for Biotechnology in August 2021. Designed to enhance plant breeding, Khufu swiftly and accurately identifies and analyzes variants in complex genomes. Its distinctive methodology enables highly precise single nucleotide polymorphism (SNP) identification, even with minimal sequence coverage, making whole genome sequencing feasible for smaller breeding programs. The widespread availability of genome-wide markers significantly amplifies the strength and accuracy of trait mapping and integration, extending the reach of these technologies to a broader spectrum of breeders and geneticists.

Prominent entities in the plant breeding and CRISPR market are strategically emphasizing product launches, such as the deployment of gene editing technology to combat corn disease. Gene editing technology comprises a set of tools enabling precise alterations to an organism's DNA. In October 2023, Corteva Agriscience, a global agricultural company based in the United States, unveiled Gene Editing Technology for addressing corn disease. This innovative approach employs gene editing and CRISPR technology to consolidate multiple disease-resistant traits within the corn genome. The outcome simplifies disease management, thereby enhancing on-farm productivity. Aligned with the United Nations Sustainable Development Goals, this sustainable solution exemplifies how a customized approach and improved allele access contribute to addressing specific challenges in agriculture, fostering crop resilience.

In November 2022, Bayer, a Germany-based multinational pharmaceutical and biotechnology company, completed the acquisition of Targenomix, accelerating the development of sustainable crop protection solutions. This strategic move enhances Bayer's standing in the plant breeding and CRISPR market by providing augmented expertise in systems biology and access to novel technologies. Targenomix GmbH, the acquired German biotechnology company, played a crucial role in this strategic expansion.

Major companies operating in the plant breeding and crispr plants market report are 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.

Asia-Pacific was the largest region in the plant breeding and CRISPR plants market in 2023. The regions covered in the plant breeding and crispr plants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plant breeding and crispr plants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of plant breeding and CRISPR plants include conventional breeding and other methods. Conventional breeding involves modifying the genetic makeup of crops to yield plants with improved features. This process includes identifying parent plants with desirable traits to create favorable combinations. Plant breeding and CRISPR techniques encompass various processes such as selection, hybridization, mutation breeding, and others, which are employed in breeding cereals and grains, oilseeds and pulses, fruits and vegetables, and other crops.

The plant breeding and CRISPR plants market research report is one of a series of new reports that provides plant breeding and CRISPR plants market statistics, including plant breeding and CRISPR plants industry global market size, regional shares, competitors with a plant breeding and CRISPR plants market share, detailed plant breeding and CRISPR plants market segments, market trends and opportunities, and any further data you may need to thrive in the plant breeding and CRISPR plants industry. This plant breeding and CRISPR plants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plant breeding and CRISPR plants market includes revenues earned by entities by providing biotechnological methods of plant breeding. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.