Growing a plant's resistance to diseases and harsh environmental conditions is a major goal of agricultural biotechnology. Utilizing sophisticated contemporary techniques, agricultural biotechnology produces novel products with enhanced quality traits. Animal and plant genomes have been altered extensively using conventional methods. The ability to control genetic changes introduced into the organism has also been made possible by advances in genetic engineering. During the forecast period, agricultural biotechnology will help expand the cultivation of biotech plants, which will accelerate market expansion.
According to Data Bridge Market Research, Agricultural Biotechnology Market is expected to reach USD 312.44 billion by 2030, which was USD 136.16 billion in 2022, registering a CAGR of 10.94% during the forecast period of 2023 to 2030.
" Increasing global population surge market demand"
The increasing global population presents a significant challenge to food production and security. Agricultural biotechnology addresses this challenge by providing innovative solutions to enhance crop productivity and increase yields. Through techniques such as genetic modification, biotechnology can improve the nutritional content of crops and make them more resistant to pests, diseases, and environmental stresses. Harnessing the potential of agricultural biotechnology, thus, can meet the growing demand for food and ensure food security for a rapidly increasing population.
What restraints the growth of the agricultural biotechnology market ?
" Public perception and consumer acceptance can impede the market growth”
Public concerns and skepticism about the safety, environmental impact, and ethical implications of genetically modified crops and biotech products can hinder market growth. Biotech companies must address these concerns through transparent communication and education initiatives. By providing accurate information, fostering dialogue, and demonstrating the benefits and safety of their products, companies can build consumer trust and acceptance, ultimately facilitating the adoption and growth of agricultural biotechnology.
Segmentation: Global Agricultural Biotechnology Market
The agricultural biotechnology market is segmented on the basis of product type, trait type, organisms, application, and technology
- On the basis of product type, the agricultural biotechnology market is segmented into crop protection products, transgenic seeds, and synthetic biology-enables products.
- On the basis of trait type, the agricultural biotechnology market is segmented into stacked, herbicide-tolerant, insect-resistant, desirable, and virus-resistant.
- On the basis of organisms, the agricultural biotechnology market is segmented into plants, animals, and microbes.
- On the basis of application, the agricultural biotechnology market is segmented into vaccine development, transgenic crops and animals, antibiotic development, nutritional supplements, flower culturing, and biofuels.
- On the basis of technology, the agricultural biotechnology market is segmented into genome editing, synthetic biology, genetic engineering, marker-assisted breeding, plant breeding, germplasm, and other technologies.
Regional Insights: North America dominates the Global Agricultural Biotechnology Market
North America's dominance in the agricultural biotechnology market stems from the widespread acceptance of genetic techniques for crop improvement. The region has embraced genetically modified crops, leading to increased productivity and resistance to pests and diseases. Additionally, the shift towards reducing the use of insecticides and pesticides in farming practices aligns with the sustainability goals of the agricultural industry. This commitment to environmentally friendly practices further drives market growth in North America, solidifying its leading position in the agricultural biotechnology market.
Asia-Pacific is expected to experience rapid growth in the agricultural biotechnology market from 2023 to 2030. This can be attributed to the increasing adoption of modern farming techniques by farmers in the region. The region's rising personal disposable incomes and the growing demand for food due to population growth contribute to the market's expansion. These factors collectively drive the adoption of agricultural biotechnology solutions in Asia-Pacific, positioning it as the fastest-growing region in the market.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-agricultural-biotechnology-market
The Prominent Key Players Operating in the Global Agricultural Biotechnology Market Include:
- KWS SAAT SE & Co. KGaA (Germany)
- Dow (U.S.)
- Bayer AG (Germany)
- BASF SE (Germany)
- Thermo Fisher Scientific (U.S.)
- Sumitomo Chemical Co., Ltd (Japan)
- MITSUI & CO., LTD. (Japan)
- Novozymes (Denmark)
- Yield10 Bioscience Inc (U.S.)
- Kemin Industries Inc. (U.S.)
- Valent Biosciences (U.S.)
- Corteva (U.S.)
- DSM (Netherland)
- ADAMA (Israel)
- Cargill, Incorporated (U.S.)
- Nufarm Canada (Canada)
- DuPont. (U.S.)
- Eurofins (Luxembourg)
Above are the key players covered in the report, to know about more and exhaustive list of global agricultural biotechnology market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Agricultural Biotechnology Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
