|Status : Published
|Published On : Dec, 2023
|Report Code : VRHC1213
|Industry : Healthcare
|Available Format :
|Page : 112
The Global Agricultural Biotechnology Market was valued at USD 34.2 billion in 2023 and is expected to grow at a CAGR of 5.6% during the forecast period (2025–2030). Agricultural biotechnology is the collection of novel techniques to enhance crop productivity and efficiency. It provides farmers an innovative technology that can make crops reasonable and productive. It is used to safeguard crops from destructive diseases and to alter the genetic sequence of crops, which surges crop production. The global agricultural biotechnology market is growing at a significant rate, due to escalating per capita income, and mounting demand for biofuel.
Different technologies such as genome editing tools, ribonucleic acid interference (RNAi), biochips, deoxyribonucleic acid (DNA) sequencing, and synthetic biology contributed to the agricultural biotechnology market size. The market has witnessed a high demand for genome editing tools due to escalating genome research and expanding the application of genome tools in agriculture research.
Insight by Technology
On the basis of technology, the global agricultural biotechnology market is categorized into genome editing tools, ribonucleic acid interference (RNAi), biochips, deoxyribonucleic acid (DNA) sequencing, and synthetic biology. Of all technologies, the synthetic biology segment is expected to grow at the fastest rate in the market, due to the capacity of synthetic biology to produce larger groups of genes and gene parts in a particular genome of crop seed. In addition, genome editing tools accounted for the largest share in the market, due to escalating genome research, and expanding the application of genome tools in agriculture research.
Insight by Product
On the basis of product, the global agricultural biotechnology market is segmented into transgenic seeds, and crop protection products. Of all the products, crop protection products are expected to grow at a faster rate in the market due to its benefits such as guarding plants against several harmful chemicals and other pests. In addition, the transgenic seeds segment accounted the largest share in the market, due to mounting demand of transgenic soybean worldwide, decrease in cultivable land, and transgenic crops expand agricultural productivity and help producers.
The crop protection products segment is further subdivided into biostimulants and biopesticides. The transgenic seeds segment is further subdivided into soybean, fruits and vegetables, maize, cotton, and others. The soybean segment is expected to grow at the fastest rate in the market, due to its health benefits.
Global Agricultural Biotechnology Market Report Coverage
2018 - 2023
Base Year Considered
2025 - 2030
Market Size in 2023
U.S.D. 34.2 Billion
Revenue Forecast in 2030
U.S.D. xx.xx Billion
Segments Covered in the Report
By Technology and By Product
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report
North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World
Expanding population size, the prospering need for transgenic crops, mounting demand of genetically modified crops, escalating per capita income, regulatory reinforce in the U.S. and Brazil, intensifying animal feed owing to mounting meat consumption, and mounting demand for biofuel is the primary growth drivers for agricultural biotechnology market.
Majority of genetically modified crops grown in developing economies, escalating agricultural needs, and mounting research activities in genetically modified crops in developing countries are also facilitating the growth of the agricultural biotechnology market.
Genetic Engineering: This involves the manipulation of an organism's genetic material to introduce desirable traits or remove undesirable traits. Genetic engineering techniques can be used to introduce genes from one species into another, resulting in genetically modified organisms (GMOs). GMOs have been developed to exhibit traits such as insect resistance, herbicide tolerance, improved nutrient content, and enhanced yield potential.
Molecular Markers: Molecular markers are DNA sequences that can be used to identify specific genes or regions of the genome associated with desirable traits. These markers are used in marker-assisted selection (MAS) to accelerate the breeding process by identifying and selecting plants with desired traits at an early stage.
Genomic Selection: Genomic selection involves the use of high-throughput genotyping technologies to analyze large numbers of genetic markers across the entire genome of an organism. This information is then used to predict the performance of plants and animals for specific traits, allowing breeders to select the best individuals for breeding purposes.
RNA Interference (RNAi): RNAi is a process by which small RNA molecules can silence or downregulate the expression of specific genes. This technique can be used to develop plants with improved resistance to pests and diseases by targeting and suppressing genes responsible for susceptibility.
Synthetic Biology: Synthetic biology combines principles from biology, engineering, and computer science to design and construct new biological parts, devices, and systems. In agriculture, synthetic biology can be used to engineer microorganisms for enhanced nutrient cycling, plant-microbe interactions, and biocontrol of pests and diseases.
The agricultural biotechnology market is facing a number of challenges, including the concerns about the safety of genetically modified organisms, the high cost of agricultural biotechnology, and the lack of regulatory clarity. However, the market is also expected to benefit from a number of trends, such as the increasing demand for food, the rising need for sustainable agriculture, and the technological advancements in agricultural biotechnology. Stringent rules and guidelines associated to the registration of genetically modified products, terminator seed technology, issues associated to patent rights of biotech crops, and conflict towards genetically modified crops in Europe are the major challenges for the growth of agricultural biotechnology market.
Globally, the manufacturing companies trying to enter the agricultural biotechnology market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest agricultural biotechnology market as in the region the acceptance of genetically modified crops is increasing. In addition, reductions in the application of pesticides, mounting research activities in genetically modified crops, and greater repays from farming operations are also up surging growth of the North American agricultural biotechnology market.
Asia-Pacific is observed to witness the fastest growth in the market, due to mounting acceptance of modern farming technique. In addition, escalating disposable income, greater food demand and expanding population size are also creating a positive impact on the agricultural biotechnology market growth in the region.
Key players in the agricultural biotechnology market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In June 2018, Bayer AG acquired Monsanto Company, to help and improve harvest even better.
Syngenta AG, Bayer AG, Evogene Ltd., DowDuPont Inc., KWS SAAT SE, BASF SE, Performance Plants Inc., Global Bio-chem Technology Group Company Limited, Vilmorin & Cie, Certis USA LLC, and ADAMA Agricultural Solutions Ltd are the key players offering agricultural biotechnology.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Agricultural Biotechnology Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Source: VynZ Research
Source: VynZ Research