The global market for minichromosomal technology in agriculture is poised for significant growth, according to a recent report by InsightAce Analytic Pvt. Ltd. The market, valued at US$ 324.7 million in 2023, is projected to reach US$ 526.6 million by 2031, growing at a compound annual growth rate (CAGR) of 6.40% during the forecast period of 2024-2031.
Minichromosomal technology is a pioneering method in agricultural genetic engineering that uses artificial chromosomes to introduce new traits into plants without altering their native DNA. This technology is gaining traction in the agriculture sector due to the increasing global population and the consequent need for higher crop yields. Minichromosomes, being small and distinct from natural chromosomes, are particularly useful for engineering crops with novel genetic traits. They also contribute to sustainable farming practices by reducing the need for harmful pesticides. Additionally, there is a growing demand for improved crop attributes such as enhanced nutritional profiles, better flavor, and texture. However, the need for more infrastructure may hinder the adoption of this technology in certain regions.
The report highlights several key players in the minichromosomal technology in agriculture market, including Chromatin, Inc., Icon Genetics Inc., Evogene Ltd., Lonza Group AG, and Precision Biosciences, Inc. These companies are at the forefront of developing and implementing this technology to address global agricultural challenges.
The market’s growth is driven by the increasing demand for crops that can withstand diseases and produce higher yields, which is crucial given the global population growth and the impacts of climate change. Minichromosomal technology allows for the precise introduction of multiple desirable traits into crops without modifying the original genome, ensuring genetic stability across generations. This capability, along with the potential for rapid trait stacking and the promotion of environmentally friendly farming methods, is fueling the market’s expansion.
However, the technology faces several challenges. The process of introducing and maintaining artificial chromosomes in plant cells is complex and technically demanding, requiring significant expertise and resulting in high development costs. These financial and technical barriers can limit access, particularly for smaller institutions and developing countries. Additionally, regulatory hurdles and the need for extensive safety and environmental impact assessments pose further challenges to market growth.
Regionally, North America is expected to dominate the minichromosomal technology in agriculture market, driven by substantial public investment in agricultural biotech and advancements in technology. Europe also holds a significant market share, driven by increasing concerns about food safety and sustainability, as well as stringent regulations and standards for this technology.
Recent developments in the field include the joint establishment of Finally Foods Ltd. by EVGN and The Kitchen FoodTech Hub, and the granting of a European patent to Icon Genetics GmbH for its innovation on more stable norovirus-like particles. These advancements underscore the ongoing innovation and investment in minichromosomal technology.
The market is segmented by trait incorporated, crop type, and end-user. Traits incorporated include drought tolerance, improved nitrogen use, herbicide tolerance, pest resistance, and others. Crop types include Arabidopsis, maize, and others. End-users include agriculture and biotechnology companies, academic and research institutes, and others. The market is also segmented regionally, covering North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
