Agricultural Biotechnology Market Size, Share, Growth Analysis, By Technology(Genetic Engineering, Tissue Culture, Embryo Rescue, Somatic Hybridization), By Application(Vaccine Development, Transgenic Crops & Animals, Antibiotic Development, Nutritional Supplements), By Organism(Plants, Animals, and Microbes), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20L2051 |
Region:
Global |
Published Date: October, 2024
Pages:
168
|Tables:
97
|Figures:
68
Agricultural Biotechnology Market Insights
Global Agricultural Biotechnology Market was valued at USD 105.79 Billion in 2022 and is expected to rise from USD 116 Billion in 2023 to USD 227.77 Billion by 2031, at a CAGR of 8.8% during the forecast period (2024–2031).
Rapidly increasing global population is forecasted to augment the demand for agricultural biotechnology over the coming years. Growing investments in the research and development of novel agricultural technologies are also expected to favor agricultural biotechnology market growth across the study period and beyond. Increasing stress on plants around the world due to changing climatic conditions is also expected to create new opportunities for agricultural biotechnology companies in the future. Surging demand for bio-based agricultural products around the world is also expected to foster innovation in the global agricultural biotechnology market going forward. Launch of new supportive initiatives and programs by governments around the world to improve agricultural yield is also expected to create new opportunities for agricultural biotechnology companies going forward. On the contrary, limited adoption in developing countries, ethical concerns regarding certain agricultural biotechnologies, and intellectual property issues are slated to slow down agricultural biotechnology demand outlook in the long run.
Market Snapshot - (2024–2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Agricultural Biotechnology Market Segmental Analysis
The agricultural biotechnology market is segmented based on the application, technology, organism, and region. Based on the technology, the agricultural biotechnology market is segmented into genetic engineering, tissue culture, embryo rescue, somatic hybridization, molecular diagnostics, vaccine, and others. Based on organism, the market is segmented into plants, animals, and microbes. Since application, the market is divided into vaccine development, transgenic crops & animals, antibiotic development, nutritional supplements, flower culturing, and biofuels. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Analysis by Application
Transgenic crops & animals are projected to spearhead the demand for agricultural biotechnology over the coming years. Growing emphasis on improving disease resistance in animals and plants to meet the surging demand for food products around the world is estimated to help the dominance of this segment. Rising investments in development of genetically altered crops and advancements in genetic technologies are predicted to further help boost market growth via this segment.
On the other hand, the demand for agricultural biotechnology in vaccine development applications is estimated to increase at a rapid pace in the future. Thus, this segment emerged as the fastest growing and likely to continue so in the forecast period. Increasing incidence of animal-borne diseases and rising awareness regarding animal health are forecasted to be the top factors supporting market growth via this segment. Launch of new vaccination programs to help improve livestock health will also provide new opportunities.
Analysis by Organism
Most agricultural biotechnology companies are projected to focus on plants thereby making it the largest segment. High adoption of precision and sustainable agricultural technologies is estimated to help this segment maintain its high market share. Increasing demand for genetically engineered and altered crops to maximize yield whilst having better disease resistance is expected to provide lucrative opportunities for agricultural biotechnology companies in the future.
On the other hand, the demand for agricultural biotechnology in animals is projected to increase at a notable pace across the study period and beyond. Rising use of agricultural biotechnology to enhance animal health and rising investments in the development of vaccines for animals are also expected to create new business scope for agricultural biotechnology providers going forward.
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Agricultural Biotechnology Market Regional Insights
North America is estimated to account for a dominant share of the global agricultural biotechnology market. The presence of key agricultural biotechnology providers and supportive government funding for biotechnology research are expected to help this region maintain its dominant stance in the future. The United States is projected to lead the demand for agricultural biotechnology in this region through 2031. High cultivation of multiple crops in this region and growing emphasis on improving animal health are also expected to create new opportunities for agricultural biotechnology companies looking to make a mark in this region.
Rapidly increasing population base and the presence of multiple strong agricultural countries allow the Asia Pacific region to emerge as the fastest expanding one in the world. China and India are slated to be the foremost markets for agricultural biotechnology companies operating in the Asia Pacific region. Growing adoption of precision agriculture technologies and increasing subsidization of agricultural biotechnology products by government and public organizations in this region will also boost market development in the long run.
- Largest
- Fastest
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Agricultural Biotechnology Market Dynamics
Drivers
High Demand for Food Around the world
- The world has witnessed a robust hike in population as life expectancy and birth rates keep rising across multiple countries. This rapidly increasing population is also driving up the demand for food products thereby creating new opportunities for agricultural biotechnology companies in the future.
Changing Climatic Conditions of the Planet
- Global warming has led to some major climate changes around the world, and this has resulted in uncertain conditions for agriculture. Agricultural biotechnology is trying to overcome these uncertain conditions to maintain a proper food supply chain by genetically altering plants and increasing their disease resistance as well.
Restraints
Ethical Concerns
- Although agricultural biotechnology seems to solve some major issues for the world it is also raising some serious ethical concerns regarding genetic engineering of different types of organisms. This approach is quite unnatural and has been met with strong resistance thereby impeding agricultural biotechnology demand outlook.
Limited Adoption in Developing Countries
- Agricultural biotechnology is a relatively novel concept to the world, and this is why awareness regarding the same is quite limited in underdeveloped and developing countries. This is projected to slow down the overall agricultural biotechnology market development in the future.
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Agricultural Biotechnology Market Competitive Landscape
Agricultural biotechnology companies should invest heavily in the research and development of novel technologies and products to stand out from the competition. Market players can also take advantage of supportive government initiatives and funding to maximize their business scope in the future. Creating affordable agricultural biotechnology solutions for developing countries will be a major trend for agricultural biotechnology providers across the study period.
Top Player’s Company Profiles
- Marrone Bio Innovations
- ADAMA Ltd.
- Nufarm
- Evogene Ltd.
- Performance Plants Inc.
- Limagrain
- MITSUI & CO. Ltd.
- ChemChina
- Bayer AG
- Corteva
- Valent BioSciences LLC
- KWS SAAT SE & Co. KGaA
Recent Developments
- A new enzyme capable of transforming agricultural waste into ethanol was launched in May 2024. Fermbox Bio, a renowned innovator in biotechnology space was behind this launch of EN3ZYME as it focuses on expanding its cultural biotechnology product portfolio.
- Members of the Asia-Pacific Economic Cooperation (APEC) gathered together to identify and implement regulations and policies for agro-biotech innovations back in August 2023. The representative also discussed the risk oversight for agricultural biotechnology research and development.
- A library of plant-associated microbes was launched by Bioprime Agrisolutions in July 2023. This Bionexus library was aimed at promoting sustainable innovation in the agricultural biotechnology space going forward.
Agricultural Biotechnology Key Market Trends
- Adoption of Precision Agriculture Practices: Emphasis on improving agricultural yield and output is rising rapidly around the world and this trend is projected to create new opportunities for agricultural biotechnology companies in the future. Integrating novel agricultural biotechnology with already popular sustainable and precision agriculture practices to improve awareness and adoption in the long run.
- Nutritionally Enhanced Crops: Agricultural biotechnology companies can focus on developing new crops or crossing the old ones to create more nutritious products that could resolve the issues of public health and malnutrition rising around the world. Use of genetic engineering and modification technologies will play a major role in achieving the aforementioned feat.
Agricultural Biotechnology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising demand for food products and advancements in agricultural biotechnology are slated to primarily boost market growth in the future. However, limited awareness in developing regions and ethical concerns is estimated to impede agricultural biotechnology demand outlook going forward. North America is forecasted to lead the global agricultural biotechnology market growth owing to the presence of key market players. Agricultural biotechnology companies should integrate their offerings with precision agriculture practices and develop nutritionally enhanced crops to maximize their revenue generation in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 105.79 Billion |
| Market size value in 2031 | USD 227.77 Billion |
| Growth Rate | 8.8% |
| Base year | 2023 |
| Forecast period | (2024–2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Agricultural Biotechnology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Agricultural Biotechnology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Agricultural Biotechnology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agricultural Biotechnology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agricultural Biotechnology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agricultural Biotechnology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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