The global agricultural biotechnology market size was worth around USD 95.74 Billion in 2023 and is predicted to grow to around USD 192.19 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.05% between 2024 and 2032.
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The phrase “agricultural biotechnology” pertains to the application of scientific techniques and tools to manipulate living organisms, particularly plants and animals, with the ultimate goal of enhancing agricultural output. This discipline integrates multiple fields, such as genomics, molecular biology, genetics, and bioinformatics, to facilitate the development of commodities and livestock with the desired characteristics. Potential attributes of the substance may consist of enhanced nutritional value, increased productivity, resistance to pests and diseases, tolerance to environmental stresses like salinity or dehydration, and improved post-harvest properties.
An incomplete list of the methodologies that comprise agricultural biotechnology includes genetic engineering, gene editing, marker-assisted selection, and tissue culture. To tackle pressing concerns within the agricultural domain, including but not limited to environmental protection, sustainable farming methods, and food security, scientists and researchers are endeavoring to exploit the capabilities of biotechnology. Agricultural biotechnology contributes significantly to the process of shaping the future of agriculture through the development of innovative solutions that simultaneously reduce environmental damage and satisfy the needs of a continuously growing global population.
Numerous significant variables are propelling the agricultural biotechnology market’s expansion. The expansion of the global population directly correlates with the rising demand for food, which necessitates an increase in agricultural output. In order to meet this growing need, biotechnology offers innovative strategies that have the potential to enhance the productivity, quality, and durability of crops. Concerns related to climate change are propelling the adoption of biotech crops that have been genetically modified to resist drought, pests, and diseases. A decline in arable land and severe weather events are examples of these obstacles. These obstacles guarantee more reliable harvests even during adverse conditions.
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The Global Agricultural Biotechnology Market is segmented based on product, application and region
Global Agricultural Biotechnology Market: Product Segment Analysis
● Molecular Diagnostics
● Molecular Markers
● Tissue Culture
● Vaccines
● Genetic Engineering
● Others
Global Agricultural Biotechnology Market: Application Segment Analysis
● Transgenic Crops
● Synthetic Biology-Enabled Products
● Others
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The global Agricultural Biotechnology market profiles key players such as:
● Monsanto
● Vilmorin
● Bayer CropScience
● Syngenta
● Certis
● DuPont Pioneer Hi-Bred
● Evogene
● KWS SAAT
● Dow AgroSciences
● Mycogen Seeds
Market for Agricultural Biotechnology: Regional Perspectives
Brazil and Argentina are the leading producers of maize and soybeans in Latin America, regions that are gaining prominence in the biotech crop cultivation industry. To effectively navigate regulatory frameworks, surmount socio-economic challenges, and exploit emerging opportunities in the global agricultural biotechnology market, it is imperative to customize strategies and partnerships to address industry-specific requirements, as demonstrated by these regional insights.
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