CRISPR Edited food Market Size (2023 – 2030)

The Global CRISPR Edited food Market is valued at USD 228.80 million in 2023 and is projected to reach a market size of USD 301.09 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 4%.

CRISPR-edited foods are crops where the gene has been modified by introducing DNA from genetic variants created within the crop. This market is still in its starting stages. Up until 2020, there were no commercialized crops in the market. Trials and research were being carried out. However, during the first quarter of 2021, one of the first-ever gene-edited vegetables was launched. Few other crops and vegetables were introduced into the market as well. In the future, with growing consumer awareness and initiatives taken towards sustainability, this market is projected to grow significantly.

Key Market Insights:

To feed a projected 9.3 billion people by 2050, the United Nations predicts that food production will need to rise by 60%. This statistic is anticipated to help the CRISPR-edited food market to grow.

The CRISPR genome editing market is predicted to reach 18.9 billion USD by 2031.

A survey conducted in 2020 showed that 12% of the respondents believed that CRISPR would have a significant impact on healthcare.

The percentage of food products that received regulatory approval was less than 3% which is affecting the agriculture and food sectors. To tackle this, extensive research activities regarding molecular characterization and genetic profile are being carried out.

CRISPR Edited Food Market Drivers:

Rising concerns about the environment are helping the market to develop.

Over the last couple of years, there have been various problems caused by to excessive use of chemicals, pesticides, and other fertilizers. Sustainable farming is a potential solution to protect our environment from all the challenges. It uses natural and non-renewable resources to minimize the harmful effects. Gene editing might significantly improve the sustainability of agriculture. The technique may result in a more dependable and reasonably priced food supply by assisting plants and animals to grow more adaptable to illness and climate change. Additionally, CRISPR-edited crops take up less chemicals, and water, and reduce soil erosion. This fits in well to produce eco-friendly food thereby helping in global expansion.

CRISPR-edited food helps in providing a better yield and nutritional profile aiding the market to grow.

The crops cultivated by this method have more nutrition in them. The genes edited carry desirable traits like more protein, vitamins, minerals, essential amino acids, and other compounds. Some of the other vegetables produced have characteristics like a lesser bitter taste. This feature can have a positive impact, especially amongst children encouraging them to eat all vegetables. Besides, they help in producing more yield which is resistant to various insects, bacteria, and certain viruses.

A growing population is boosting the market sales.

As of 2023, the total population is 8 billion. With such a huge population, there is a critical need to raise food production by cultivating more crops. The agricultural industry is facing a lot of pressure to meet the needs of so many. Due to this, prominence is being given to finding new technologies and methods. CRISPR is one such solution. Because of advantages like more produce, climate resilience, stress tolerance, disease resistance, and many more, more products are being released into the market to fulfill the hunger needs of 8 billion.

CRISPR Edited Food Market Restraints and Challenges:

Exploitation, standardization, consumer acceptance, and pricing are the main restraints the market is currently facing.

This technology can be misused to threaten human life, Virus-edited genomes are one such method where the genes are altered with toxic viruses which can cause abnormalities and death of the human population. Besides, it can have a potential ecological impact as well.  Secondly, there are very few guidelines and protocols regarding their use, cultivation, and consumption. This varies from region to region and can lead to repercussions. Thirdly, new foods that are modified often receive backlash from the public regarding their safety and ethnicity. This can cause losses to the market. Additionally, false news from forwarded messages and media can hamper the growth. Furthermore, the costs associated with developing and testing of these products can be very expensive, demotivating the farmers to cultivate them.

CRISPR Edited Food Market Opportunities:

Scientists are currently working on creating gene-edited varieties using CRISPR which can store carbon in the soil. This helps in restoring balance and in the carbon cycle as well. Carbon sequestration research regarding this is being conducted at Innovative Genomics Institute (IGI), California. Apart this this, R&D projects are being undertaken to find more crops that are compatible and have better features like improved taste, nutrition, and weather resistance. Furthermore, investors and other agencies are showing an increased interest in funding companies and biotechnology firms working towards the new technology.

CRISPR EDITED FOOD MARKET REPORT COVERAGE:

CRISPR Edited Food Market Segmentation: By Crop Type

• Grains

• Fruits and Vegetables

• Specialty crops

• Others

Based on crop type, grains are considered to be the largest in this market. There have been a lot of organizations who are researching different grains and alternatives to improve the existing quality as well as find better ones. Grains like wheat, corn, and maize are consumed as staple foods on many continents. With the increase in the population, it is crucial to focus on methods that produce more yield, have disease resistance, and improve flavors that help mankind. Corn is one of the most widely studied crops worldwide. However, fruits and vegetables are considered to be amongst the fastest-growing segments. This is because of their nutritional profile which helps in providing immunity. Apples and tomatoes are the fruits that received major attention. Vegetables like cabbage, potatoes, and other leafy ones like lettuce were studied. The reason is because of the advantages they offer to human health. Moreover, they were consumed as the major and the favorite ones globally increasing the research prominence.

CRISPR Edited Food Market Segmentation: By Application

• Nutritional Enhancement

• Pest and Disease Resistance

• Climate Resilience

• Flavor and Quality Improvement

• Shelf-Life Extension

• Others

Based on application, pest and disease resistance was one of the largest segments in this market holding a share of approximately 40%. A lot of studies have indicated the adverse effects of using pesticides and other chemicals. They are known to cause irritation, nausea, respiratory issues, damage to the DNA, and death in a few cases. Moreover, the need to tackle certain pathogens and bacteria is vital. This increases the need to find other choices for the benefit of mankind. Furthermore, the alternatives are associated with lower costs. Nutritional enhancement is the fastest growing category holding a share of around 21% owing to nutritional benefits, less malnutrition, market demand, and food scarcity issues.

CRISPR Edited Food Market Segmentation: By End User

• Farmers

• Research and Agricultural Institutes

• Pharmaceutical and Biotechnology Companies

• Others

Based on end users, farmers are the largest and fastest-growing segment in the market. This is due to reasons like lower costs for cultivation, lesser chemical requirements, and health-related benefits for humans, agricultural productivity, and contracts from pharmaceutical companies as well as research institutes, and universities.

CRISPR Edited Food Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

Based on region, North America is considered to be the largest in the market holding a rough estimate of around 29%. The United States stands at the forefront. The main reasons for this are the technological advancements, economy, funding, prominent research activities carried out by prestigious universities, and the presence of key companies. Asia Pacific is considered to be the fastest growing holding a share of around 20%. Countries like China and India are among the leading. The growing interest in R&D, recent findings, conferences, emerging startups, and rising investments are the main reasons for the success. Moreover, China is showing tremendous developments after the United States in obtaining more patents and advancing CRISPR technology.

COVID-19 Impact Analysis on the Global CRISPR Edited Food Market:

The outbreak of the virus hurt the market. There were a lot of disruptions in the supply chain, transportation, and logistics. This took a toll on the import-export trade. There was a shutdown of many industries and units. This caused an economic downfall. Moreover, funding and investments were given to the healthcare sector to develop vaccines and for diagnostic purposes. Commercialization of edited food crops was slowed down because there was a halt in all the regulations regarding them. More than 23% of research activities were delayed, however, post-pandemic, the market got prominence from investors and there was a focus on addressing food challenges. Biotechnology firms and pharmaceutical companies were encouraged to resume their research work after the relaxation of lockdowns and the opening of facilities.

Latest Trends/ Developments:

Companies in this industry are driven to increase their market share using a variety of tactics, including alliances, investments, and acquisitions. Along with maintaining competitive pricing, businesses are paying much to advance the existing technology as well as crops and find better ones. This has also led to greater enlargement.

Current trends in the market include a focus on specialty crops other than staple ones. Integration with data analytics and other sensors is being prioritized to improve crop optimization. Patent clarities and rules are being given importance to increase trade activities.

Key Players:

1. Calyxt, Inc.

2. Benson Hill

3. Corteva Agriscience

4. BASF

5. Monsanto (Bayer)

6. Syngenta

7. Editas Medicine

8. Precision Biosciences

9. Caribou Biosciences

10. Cibus

In September 2023, German multinational biotechnology and pharmaceutical company Bayer teamed up with gene-editing company Pairwise to develop a new generation of short-stature corn. The collaboration aims to offer farmers around the world more sustainable and resilient corn varieties.

In May 2023, Pairwise commercialized the first gene-edited food in the US with CRISPR called altered salad blend. The goal was to dial down the genes responsible for the off-putting flavors.

In March 2021, Sanatech Seed, a firm in Tokyo, Japan launched the first-ever genome-edited tomato using CRISP technology. The tomato contained high levels of gamma-aminobutyric acid (GABA), an amino acid believed to aid relaxation and help lower blood pressure