As per the report published by Fior Markets, the global Plant Breeding and CRISPR Plants market is expected to grow from USD 6.3 Million in 2017 to USD 21.2 Million by 2025 at a CAGR of 16.4% during the forecast period from 2018-2025. The Asia Pacific region is a major manufacturing hub owing due to ever-increasing demand for commercial seeds in the Asian market aligned with the growing economic growth conditions. Also, seed producers 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
Global Plant Breeding and CRISPR Plants Market by Process (Selection, Hybridization, Mutation Breeding), Type (Conventional Breeding, Others), Trait, Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leading companies in the industry include Bayer, Syngenta, KWS, DowDuPont, Eurofins, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share. For instance, In October 2018, KWS SAAT SE and J.R. Simplot Company (US), together founded a new joint venture, Adrevo B.V. This new joint venture would focus on the development of breeding potato varieties with improved and new traits.
The process segment is classified into selection, hybridization and mutation breeding. The hybridization segment is dominating the Plant Breeding and CRISPR Plants market with USD 2.87 Million in 2017. Type segment includes conventional breeding and biotechnological method. Biotechnological method is dominating the market with the highest share of 63.40%. The increasing implementation of hybrid and molecular breeding techniques in developing countries and the rising cultivation of GM crops in the Americas are factors contributing to its high growth. Trait segment is divided into segments such as herbicide tolerance, disease resistance, yield improvement and other traits. The herbicide tolerance segment valued around USD 2.32 Million in 2017. Herbicide tolerance has been one of the major traits targeted by plant breeders for transgenic and non-transgenic crops. The application segment includes cereals & grains, oilseeds & pulses, fruits & vegetables and other crop types. The cereals & grains segment dominated the market in 2017.
Increasing demand for enhanced crop varieties using modern breeding techniques is a major factor driving the market. Also, exponential reduction in the cost for genomic solutionsand advancements in technology which ensures strong market growth are fuelling the growth of market. High cost associated with modern breeding methods as compared to conventional breeding and poor laboratory infrastructure and lack of validated markers hamper the growth of market. However, rising investments from seed companies and favourable regulations for molecular breeding may boost the market in coming years.
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