HarvestPlus, Monsanto Company and Syngenta are dominating the Global Biofortification Market in 2019

Global biofortification market is expected to reach at a healthy CAGR of 36.3% in the forecast period of 2019 to 2026. The years considered for study are mentioned below.

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The biofortification market is an upcoming promising market which includes very few market players and many companies being involved in the research and developmental activities of such biofortified crops. The market has a prominent growth in upcoming years due to rising consumption of different types of crops, increasing demand for high nutritional content food, government initiatives towards biofortification and long term cost-effectiveness of biofortification.

The market has witnessed the developments in terms of merger and acquisitions, collaborations or awareness programmes to enhance the product portfolio and to meet the rising demand of innovative technology. For instance, in March 2018, HarvestPlus was named as a partner in the Government of Colombia’s Comprehensive National Program for replacing the illicit crops. HarvestPlus will be working with the Colombian Agricultural Research Corporation (CORPOICA) for ensuring that the high quality seeds are available to farmers who are seeking to replace the current crops and offers technical assistance all over the transition.

HarvestPlus dominated the biofortification market and accounts for the highest market share in 2018 which is followed by Monsanto Company and Syngenta. The other key players existing in the market includes Intrexon, Arcadia Biosciences, PHII (Pioneer Hybrid International), BASF SE, Intertek Group plc, LemnaTec GmbH, and others.

HarvestPlus:

HarvestPlus is headquartered in Washington, U.S. The company is engaged in developing and promoting various new varieties of biofortified food crops which are rich in vitamins like vitamin A and minerals such as iron or zinc and helps in offering global leadership in the biofortification evidence and technology. HarvestPlus is a part of CGIAR Research Program on the Agriculture for Nutrition and Health (A4NH).

  • In November 2017, HarvestPlus received USD 5.2 million grant from the United Kingdom’s Department for International Development (DFID) for increasing the private sector involvement in delivering the biofortified crops in South Asia and Africa. This would help in strengthening its position and expanding its business in Africa and South Asia.

It has its global networks through direct sales representatives and distributors in Central America, Africa, Asia, and Latin America.

Monsanto Company:

Monsanto Company headquartered in Missouri, U.S. was founded in 1901. The company is engaged in developing the products and tools for helping the farmers across the world to grow crops more efficiently using energy, water and land. The company offers their products under different brands such as Acceleron, Asgrow, Channel, Corn States, De Ruiter, Degree Xtra, DEKALB, Deltapine, Fontanelle Hybrids, Gold Country Seed, Harness, Hubner Seed, Jung Seed, Kruger Seeds, Lewis Hybrids, Monsanto BioAg, Monsanto Traits, REA Hybrids, Roundup PowerMax, Roundup WeatherMax, RT 3, Seminis, Specialty, Stewart, Stone Seed, The Climate Corporation, TripleFlex, Warrant and WestBred.

  • In March 2018, Pairwise Plants and Monsanto Company announced collaboration for developing the agricultural research and development by means of leveraging the gene-editing technology. This would help the farmers to produce better harvests and in the product development of the company.

It has its global networks through direct sales representatives and distributors in North/Central America, South America, Europe, Africa and Asia-Pacific. It operates through its subsidiaries such as Monsanto Canada (Canada), Monsanto India Ltd. (India), Monsanto Argentina SAIC (Argentina), Monsanto Chile SA (Chile), Monsanto Agricoltura Italia S.p.A. (Italy) and others.

Syngenta:

Syngenta headquartered in Basel, Switzerland was founded in 2000. The company is engaged in the agribusiness operating in the crop protection, seeds, controls and flowers markets. The company operates through three business segments which include crop protection, seeds and flowers. The company is offering various biofortified crops such as cereals, vegetables, sugarcane, soybean, rice, specialty crops and diverse field crops.

  • In February 2018, Syngenta acquired Nidera Seeds from the COFCO International. This strategy would help in strengthening the focus on oilseeds, sugar and grains and Syngenta would continue to improve their business with the beneficial outcome for all the stakeholders.

The company has wide geographical presence in North America, South America, Europe, Middle East & Africa, Asia-Pacific. It operates through its subsidiaries such as Syngenta Japan K.K. (Japan), Syngenta Crop Protection, LLC (U.S.), Syngenta Canada Inc. (Canada), Nidera Seeds B.V. (Netherlands), Syngenta Korea Limited (Korea), and others.