Global Agricultural Biotechnology Market

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 News

  • 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.
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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).

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. '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'

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.

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.

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.

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Global Agricultural Biotechnology Market

Report ID: SQMIG20L2051

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