Agricultural Biotechnology Market Size, Share, Growth Analysis, By Technology (Genetic Engineering, Tissue Culture), By Application (Vaccine Development, Transgenic Crops & Animals), By Organism (Plants, Animals), By Region - Industry Forecast 2024-2031

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.