Plant Breeding is altering the genetic pattern of plants to create desired plant types that give better yield and are disease resistant. CRISPR is a plant breeding innovation that modifies DNA with greater accuracy. The Plant Breeding and CRISPR Plants market is expected to have a significant market growth due to strong funding by private and public sector towards plant biotechnology such as the development of high throughput sequencing system. Increasing demand for high-quality crops and the adoption of molecular breeding techniques to improve plant quality is expected to drive the market growth. But high cost involved in modern breeding methods is expected to be a restraint for market growth. On the basis of type, biotechnological methods is expected to have a significant market growth due to the rising adoption of hybrid and molecular breeding methods in developing countries. Growth of innovation is expected to growth of CRISPR technology. By geography, North America is expected to have significant market share due to limited regulations and high value for certain commercial crops.
Strong funding by private and public sector towards plant biotechnology
The increasing need for high-quality crops
Growing adoption of molecular breeding techniques
The high cost of modern breeding methods
In June 2017, Chinese state-owned chemical giant ChemChina completed the acquisition of Swiss agribusiness giant Syngenta
In June 2018, German chemical and pharma major Bayer AG completed the acquisition of US-based biotech major Monsanto to create the world’s biggest agrochemical and seed company.
The Plant Breeding and CRISPR Plants Market has been analyzed through the following segments:
Oilseeds and Pulses
Cereals and Grains
Fruits and vegetables
Middle East and Africa