Plant Breeding and CRISPR Plants Market to Showcase Continued Growth in the Coming Years

The plant breeding and CRISPR plants market is projected to reach USD 14.6 billion by 2023, from USD 7.6 billion in 2018, at a CAGR of 13.95%

Northbrook, USA, 2021-Jun-21 — /EPR Network/ —The report Plant Breeding and CRISPR Plants Market by Type (Conventional and Biotechnological [Hybrid, Molecular Breeding, GM, Genome Editing]), Trait (Herbicide Tolerance, Disease Resistance, and Yield Improvement), Application, and Region–Global Forecast to 2023″ The plant breeding and CRISPR plants market is projected to reach USD 14.6 billion by 2023, from USD 7.6 billion in 2018, at a CAGR of 13.95% during the forecast period. The market is driven by factors such as the growing need for high-quality crops and increased yield, and rising application of plant biotechnology in the agriculture industry.

Plant Breeding and CRISPR Plants Market

Plant breeding techniques for the cereals & grains segment are projected to be widely researched during the forecast period.

Various countries have adopted molecular techniques such as marker-assisted selection (MAS) for plant breeding, due to the increasing demand for high yield from field and horticultural crop growers. Corn is a major crop that finds application in various industries across the world; biotechnological techniques such as hybrid and molecular breeding are increasingly adopted for corn by all plant genetic breeders. Also, the genetic data available for corn is higher, followed by wheat.

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The higher adoption of genetically modified crops such as corn, wheat, and rice in the US, Brazil, and China (only imported for feed purpose) has been a major factor contributing to the growth of the cereals & grains segment in the plant breeding market.

The molecular breeding segment is projected to witness the fastest growth during the forecast period.

Since the cultivation of GM crops has been adopted in all regions except Europe, the genetic engineering technique is projected to exhibit a sluggish growth in the coming years due to strong regulatory control of its practice in many countries. This holds true for CRISPR technology as well. Though, the CRISPR technology in agriculture promised exponential growth while its emergence, regulations by Europe in line with genetic modification, affected the adoption rate of CRISPR gene editing tool. However, since the molecular breeding technique is based on molecular markers for trait selection, it is completely unregulated across the globe; hence, the segment has higher growth potential in comparison with all other breeding techniques.

Asia Pacific is projected to witness the highest growth in the plant breeding and CRISPR plants market during the forecast period.

There has been an ever-increasing demand for commercial seeds in the Asian market, in line with the growing economic growth conditions. Also, seed manufacturers such as Bayer, Monsanto, and Syngenta have been showing increasing interest in tapping this potential market, wherein the companies have been expanding their R&D centers across the Asia Pacific. Public investments have been declining, while private investments in plant research have been growing exorbitantly. Moreover, the growth of the biotechnology industry observed in China, Japan, and India translates to the high-growth potential of the plant breeding market during the forecast period.

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Key Market Players:

Plant breeding has been practiced for thousands of years. However, technologies such as unmanned aerial vehicles (UAVs), robots, artificial intelligence (AI), and machine learning are revolutionizing this practice. Hence, plant breeders are continuously investing in these technologies to explore the genetic basis of trait variation in crops with higher accuracy and within the limited timeline. Companies such as Bayer (Germany), Syngenta (Switzerland), KWS (Germany), and DowDuPont (US) utilize combinations of both traditional and molecular breeding to develop various seed traits, whereas companies such as Eurofins (Luxembourg) and SGS (Switzerland) provide services to certain seed companies. Various strategies such as acquisitions, partnerships, and expansions were adopted by companies, research institutes, and academic institutions to enter the plant breeding and CRISPR plants market.

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