Global Plant Breeding and CRISPR Plants Market Growing at A CAGR of 14.76% 2019-2026
The global plant
breeding and CRISPR plants market was valued at USD 7,452.14 million in 2018
and is expected to reach USD 17,246.76 million in 2026, growing at a CAGR
of 14.76% during the forecast period.
Plant breeding is
basically a technique through which the genetic pattern of a specific plant is
altered in order to increase its value for human welfare. It is a well-designed
alteration of plants that can provide better yield and are less prone to
disease. CRISPR is termed as an integral part of a bacterial defense system. It
is used to target and modify plant DNA. The growth of the plant breeding and
CRISPR plants market is primarily driven by the continuous innovations in plant
biotechnology which include the use of a high-throughput sequencing system in
order to improve plant output.
Moreover, changing
lifestyles of consumers across the globe is resulting in rising demand for
better-quality crops and high yield. This is expected to create opportunities
for investors in the global market over the forecast period. However, the high
cost of breeding technology is expected to hamper the growth of the global
plant breeding and CRISPR plants market in the coming years. The mutation
breeding process segment expected to dominate the market throughout the
forecast period Based on the process, the global plant breeding and CRISPR
plants market has been segmented into selection, hybridization, and mutation
breeding.
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The mutation breeding
process of plant breeding and CRISPR plants accounted for approximately 34% of
the share in the global plant breeding and CRISPR plants market in 2018. While
hybridization accounted highest CAGR of around 16.12% in the global plant
breeding and CRISPR plants market during the forecast period.
Mutation breeding is
widely adopted for exposing seeds to chemicals or radiation to generate mutants
with desirable traits. These benefits are expected to enhance the demand and
sales for mutation breeding across the developed and developing countries in
the global market. Based on type, the biotechnological method segment is
expected to grow at a CAGR of around 17% throughout the forecast period Based
on type, the market has been segmented into conventional breeding and
biotechnological method.
The conventional
breeding segment accounts of the largest share of around 55% in the global
market. While the biotechnological method is expected to hold the CAGR of
nearly 17% during the forecast period. The increase in technology development
and concerns regarding improved crop varieties are some of the major factors
driving the growth of biotechnological method globally.
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However, lack of
infrastructure and high costs associated are expected the hamper the growth of
biotechnological method in the global market. Based on trait, the disease
resistance segment is expected to dominate during the forecast period Based on
the trait, the market has been segmented into herbicide tolerance, disease
resistance, and yield improvement. The disease resistance segment accounts of
the largest share in the market and held for more than 40% of the total market
in 2018.
The major factors that
are driving the growth of this segment are the rising demand for high-quality
field crops across developing countries such as India, China, and Indonesia.
Based on application, the cereals & grains segment is expected to dominant
the market during the forecast period Based on application, the market has been
segmented into cereals & grains, oilseeds & pulses, fruits &
vegetables, and others. The cereals & grains application segment accounts
of the largest share in the global plant breeding and CRISPR plants market by
application.
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The major factors that
are driving the growth of this segment are the rising awareness about the
application of plant breeding and CRISPR plants in corn and rice harvesting.
Several producers are investing substantially to develop plant breeding
solutions for cereals & grains, which is expected the lead the market in
the coming years. Asia-Pacific to dominate the plant breeding and CRISPR plants
market throughout the forecast period Asia-Pacific accounted for nearly 34%
share of the global plant breeding and CRISPR plants market in 2018 and is
expected to dominate the market throughout the forecast period. The rapid
growth in the demand for commercial seeds as well as investments from private
sectors is the major driving factor for the region in the global market.
Moreover, the
increasing awareness for plant breeding technology is anticipated to increases
its dominance in the global plant breeding and CRISPR plants market in future.
Company Profiles and Competitive Intelligence: The major players operating in
the global plant breeding and CRISPR plants market are Bayer (US), Benson Hill
Biosystems, Inc. (Germany), Syngenta (Switzerland), KWS (Germany), DowDuPont
(US), Groupe Limagrain (France), Advanta Seeds (UAE), Eurofins Scientific
(Luxembourg), Pacific Biosciences (US), and Evogene Ltd. (Israel) among others.
Contact Us:
Name: Steven Samuel
Phone - +91 9370882135
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