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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Overview of the Agricultural Biotechnology Market
The term “agricultural biotechnology” denotes the application of scientific methods and instruments to the modification of living organisms, specifically plants and animals, with the intention of enhancing agricultural production. This field combines a variety of disciplines, such as genetics, molecular biology, genomics, and bioinformatics, to create livestock and commodities that exhibit desired traits. These characteristics may encompass an increase in production, an enhancement in nutritional value, resistance to pests and diseases, tolerance to environmental challenges such as drought or salinity, and enhanced post-harvest characteristics.
Genetic engineering, gene editing, marker-assisted selection, and tissue culture are some of the techniques that are included in the field of agricultural biotechnology. Researchers and scientists are currently engaged in the process of utilising biotechnology to resolve pressing issues in the agricultural sector, including environmental protection, sustainable farming techniques, and food security.
The future of agriculture is significantly influenced by agricultural biotechnology, which offers innovative solutions that can accommodate the growing global population while concurrently mitigating its adverse effects on the environment.
Growth Factors in the Agricultural Biotechnology Market
The Agricultural Biotechnology Market is experiencing significant growth due to a variety of critical factors. In order to meet the increasing demand for food, which is a direct consequence of the expanding global population, it is imperative to increase agricultural production. Biotechnology offers innovative methods that can enhance the quality, resilience, and output of crops in order to meet the growing demand. The issues associated with climate change are driving the adoption of biotech crops that are engineered to be resistant to drought, pests, and diseases. These challenges encompass a decrease in arable land and extreme weather events. These obstacles guarantee more consistent harvests in 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
Regional Perspectives on the Agricultural Biotechnology Market
Regional insights have revealed that the Agricultural Biotechnology Market is characterised by a diverse array of trends and dynamics that are contingent upon various geographic locations. North America is currently the market leader due to its extensive research infrastructure, favourable regulatory regulations that encourage the adoption of biotech commodities, and a strong emphasis on innovation. In particular, the United States of America has become the dominant actor by means of the pervasive production of genetically modified crops, including cotton, soybeans, and maize. The limited commercialisation of biotech crops in Europe is a consequence of governmental challenges and public apprehension regarding genetically modified organisms (GMOs).
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