North America and Latin America Plant Breeding and CRISPR Plants Market, By Type (Conventional Breeding, Biotechnological Method, and Genetic Engineering), Trait (Herbicide Tolerance, Yield Improvement, Disease Resistance, Temperature Tolerance, Grain Size Improvement, Stress Tolerance, Drought Resistance, and Others), Application (Cereal & Grains, Oilseed & Pulses, Fruits & Vegetables, Cash Crops, Turf & Ornamental, Herbs and Microgreen, Medicinal Crop, and Other Crop Types) - Industry Trends and Forecast to 2031.
North America and Latin America Plant Breeding and CRISPR Plants Market Analysis and Size
The growing demand for crops or plants produced by plant breeding or CRISPR technique among farmers globally to produce high-quality crops is leading to the growth of research & development for plant breeding & CRISPR plants. Moreover, a rise in awareness about plant breeding and CRISPR plants through various programmes is expected to boost market growth. However, high costs associated with modern breeding techniques compared to conventional breeding techniques are expected to challenge market growth.
Data Bridge Market Research analyses that the North America and Latin America plant breeding and CRISPR plants market is expected to reach the value of USD 31,154,227.65 thousand by 2031 from USD 8,196,144.48 thousand in 2023, growing at a CAGR of 18.5% during the forecast period of 2024 to 2031.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Conventional Breeding, Biotechnological Method, and Genetic Engineering), Trait (Herbicide Tolerance, Yield Improvement, Disease Resistance, Temperature Tolerance, Grain Size Improvement, Stress Tolerance, Drought Resistance, and Others), Application (Cereal & Grains, Oilseed & Pulses, Fruits & Vegetables, Cash Crops, Turf & Ornamental, Herbs and Microgreen, Medicinal Crop, and Other Crop Types)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Colombia, Chile, and Rest of South America
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Market Players Covered
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CORTEVA, Syngenta Crop Protection AG, Limagrain, KWS SAAT SE & Co. KGaA, UPL, PLANASA, Bayer AG, InVivo, DLF, pairwise, TMG Tropocal Improvement & Genetics SA, BASF SE, SAKATA SEED CORPORATION, Bioceres Crop Solutions, Stine Seed Company. (A subsidiary of Stine Seed Farm, Inc.), DONMARIO, RAGT, and YIELD10 BIOSCIENCE, INC., among others
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Market Definition
Plant breeding is a technique used by cultivators to develop or improve the crop variety and increase its yield by manipulating the plant genome with the help of conservatory or molecular tools to get the desired gene or trait. Plant breeding techniques use site-directed nucleases to transform or target the DNA into the desired DNA with extreme perfection. CRISPR is a technology used in plant breeding, where a CRISPR-CAS gene derived from the prokaryote is used to create the germplasm with superior and beneficial traits. The crop produced by plant breeding or CRISPR technology possesses traits such as high yield, better quality than traditional crops, disease resistance, herbicide tolerance, and climatic tolerance.
North America and Latin America Plant Breeding and CRISPR Plants Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in R&D for Plant Breeding and CRISPR Plants
Plant breeding is a technique to change the traits of plants by introducing the desired traits in the plants by targeting and transforming the DNA with extreme perfection. Plant breeding enhances crop production and improves crop nutritional quality for human or animal consumption. CRISPR is one of the main and important technologies used in plant breeding as it offers applications such as improved quality, yield, disease, and herbicide resistance. There is an increase in the R&D for plant breeding and CRISPR plants in the global region with the increase in demand for modified crops to increase yield, enhance crop quality, and reduce crop damage. The growing demand for crops or plants produced by plant breeding or CRISPR technique among farmers globally to produce high-quality crops is leading to the growth of research & development for plant breeding & CRISPR plants.
- Rise in Awareness about Plant Breeding and CRISPR Plants through Various Programmes
The awareness regarding plant breeding and CRISPR plants is increasing among global farmers, increasing the demand for new varieties of crops made from breeding techniques and driving the market. The demand for superficial or desired traits in every crop is rising among global farmers to grow the best high-yield crop with better nutritional quality. In addition, the number of programs conducted by the government regarding plant breeding & CRISPR plants is spreading awareness to global consumers and farmers.
Government-sponsored programs are crucial in disseminating knowledge about modern plant breeding techniques. In North and Latin America, agricultural departments and research agencies conduct awareness campaigns, workshops, and training sessions to educate farmers on the latest advancements in plant breeding, including the revolutionary CRISPR technology.
Opportunity
- Increase in the Number of Approval by Governmental Bodies for Plant Breeding
The growing number of government approvals reflects a positive trend toward acknowledging the importance of advanced breeding techniques in enhancing crop traits and addressing agricultural challenges. CRISPR, in particular, allows for precise and targeted modifications in plant genomes, enabling the development of crops with improved resistance to pests, diseases, and environmental stressors. The approval of such technologies by governmental bodies signals a regulatory environment that adapts to plant breeding advancements. However, this approval surge created challenges for the North American and Latin American plant breeding markets. While evolving, the regulatory landscape can be intricate and vary across countries and regions. The challenge lies in navigating these regulatory frameworks effectively to ensure the timely and streamlined commercialization of improved crops.
Restraints /Challenges
- High Costs Associated with Modern Breeding Techniques as Compared to Conventional Breeding Techniques
The financial barriers associated with advanced technologies can limit widespread adoption, especially among smaller agricultural enterprises and resource-constrained regions. Addressing the cost implications of modern breeding techniques becomes pivotal for ensuring equitable access and sustainable agricultural development as the market strives to balance the potential benefits of enhanced crop traits with economic feasibility. Modern breeding techniques, particularly those involving CRISPR technology, hold immense promise for revolutionizing plant breeding and addressing global agricultural challenges. Thus, the high costs associated with these methods are restraining market growth.
- Stringent Regulations on Plant Breeding and CRISPR Techniques
Regulatory frameworks governing these technologies aim to ensure the safety of Genetically Modified Organisms (GMOs) and their products and address ethical and environmental concerns. In North America, regulatory bodies such as the United States Department of Agriculture (USDA), the Environmental Protection Agency (EPA), and the Food and Drug Administration (FDA) play crucial roles in overseeing plant breeding activities. Similarly, in Latin America, countries have established regulatory bodies to monitor and regulate the deployment of genetically modified crops and CRISPR-based technologies. These regulations often require comprehensive risk assessments and rigorous testing procedures before commercially releasing genetically modified crops. The stringent nature of these requirements adds significant time and cost to developing and commercializing new plant varieties. Furthermore, public and political debates surrounding genetically modified organisms contribute to the complexity of regulatory landscapes, introducing uncertainties and delays in approvals. The intricacies of complying with diverse regulatory standards across different countries within North and Latin America also add to the challenges faced by companies operating in this market.
Recent Developments
- In September 2022, pairwise partnered with Bayer Ag, for improvement of crop agriculture in corn and soy varieties. The partnership allowed an increased supply of soy and corn varieties, the addition of a hybrid trait brand portfolio providing a sustainable advantage, and a rise in revenue in Europe and North America
- In September 2022, pairwise partnered with the Food Bank of Central and Eastern North Carolina for a Day of Service. The partnership allowed an increased supply of seeds, conscious food (leafy vegetables), and awareness about the conscious foods brand portfolio
North America and Latin America Plant Breeding and CRISPR Plants Market Scope
The North America and Latin America plant breeding and CRISPR plants market is categorized into type, trait, and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Conventional Breeding
- Biotechnological Method
- Genetic Engineering
On the basis of type, the North America and Latin America plant breeding and CRISPR plants market is segmented into conventional breeding, biotechnological method, genetic engineering.
Trait
- Herbicides Tolerance
- Yield Improvement
- Disease Resistance
- Temperature Tolerance
- Grain Size Improvement
- Stress Tolerance
- Drought Resistance
- Others
On the basis of trait, the North America and Latin America plant breeding and CRISPR plants market is segmented into herbicide tolerance, disease resistance, yield improvement, temperature tolerance, grain size improvement, stress tolerance, drought resistance, and others.
Application
- Cereals & Grains
- Oilseed & Pulses
- Fruits & Vegetables
- Cash Crops
- Turf & Ornamental
- Herbs and Microgreen
- Medicinal Crop
- Other Crop Types
On the basis of application, the North America and Latin America plant breeding and CRISPR plants market is segmented cereals & grains, oilseed & pulses, fruits & vegetables, cash crops, turf & ornamental, herbs and microgreens, medicinal crops, and other crop types.
North America and Latin America Plant Breeding and CRISPR Plants Market Regional Analysis/Insights
The North America and Latin America plant breeding and CRISPR plants market is analyzed, and market size insights and trends are provided by type, trait, and application as referenced above.
The countries covered in the North America and Latin America plant breeding and CRISPR plants market report are U.S., Canada, Mexico, Brazil, Argentina, Colombia, Chile, and Rest of South America.
North America is expected to dominate due to the presence of key market players in the largest consumer market with a high GDP. U.S. is expected to grow due to the rise in demand for plant breeding and CRISPR plants in the R&D industry. Brazil is expected to dominate the Latin America region due to the strong presence of key players.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
North America and Latin America Plant Breeding and CRISPR Plants Market Competitive Landscape and Share Analysis
The North America and Latin America plant breeding and CRISPR plants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the market.
Some of the major players operating in the North America and Latin America plant breeding and CRISPR plants market are CORTEVA, Syngenta Crop Protection AG, Limagrain, KWS SAAT SE & Co. KGaA, UPL, PLANASA, Bayer AG, InVivo, DLF, pairwise, TMG Tropocal Improvement & Genetics SA, BASF SE, SAKATA SEED CORPORATION, Bioceres Crop Solutions, Stine Seed Company. (A subsidiary of Stine Seed Farm, Inc.), DONMARIO, RAGT, and YIELD10 BIOSCIENCE, INC., among others.
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