Global Market for Minichromosomal Technology in Agriculture Projected to Reach $526.6 Million by 2031
Margust Dela Cerna | August 19, 2024
A new report from InsightAce Analytic Pvt. Ltd. projects the global market for minichromosomal technology in agriculture to grow from $324.7 million in 2023 to $526.6 million by 2031, at a compound annual growth rate (CAGR) of 6.40% from 2024 to 2031.
Minichromosomal technology, an advanced genetic engineering method, enables crops to acquire beneficial traits without altering their natural DNA. This approach addresses global challenges such as rising food demand and climate change by improving crop yields, enhancing pest resistance, and reducing pesticide dependence. Despite its promise, adoption is limited by infrastructure gaps and high development costs.
North America is expected to dominate the market, fueled by substantial public investment in agricultural biotechnology and advanced technological developments. In Europe, increasing focus on food safety, sustainability, and biotechnology funding is driving significant growth.
Prominent companies in this sector include Chromatin, Inc., Icon Genetics Inc., Evogene Ltd., Lonza Group AG, and Precision Biosciences, Inc. Recent advancements include:
The market is categorized by traits such as drought tolerance and pest resistance, crop types including maize and Arabidopsis, and end-users like agricultural firms and research institutes.
As the agriculture industry seeks innovative solutions to boost productivity and sustainability, minichromosomal technology is emerging as a transformative tool to meet these critical needs.
Minichromosomal technology, an advanced genetic engineering method, enables crops to acquire beneficial traits without altering their natural DNA. This approach addresses global challenges such as rising food demand and climate change by improving crop yields, enhancing pest resistance, and reducing pesticide dependence. Despite its promise, adoption is limited by infrastructure gaps and high development costs.
North America is expected to dominate the market, fueled by substantial public investment in agricultural biotechnology and advanced technological developments. In Europe, increasing focus on food safety, sustainability, and biotechnology funding is driving significant growth.
Prominent companies in this sector include Chromatin, Inc., Icon Genetics Inc., Evogene Ltd., Lonza Group AG, and Precision Biosciences, Inc. Recent advancements include:
The market is categorized by traits such as drought tolerance and pest resistance, crop types including maize and Arabidopsis, and end-users like agricultural firms and research institutes.
As the agriculture industry seeks innovative solutions to boost productivity and sustainability, minichromosomal technology is emerging as a transformative tool to meet these critical needs.
