Asia-Pacific Biofortification Market, By Crop Type (Sweet Potato, Cassava, Rice, Corn, Wheat, Beans, Pearl Millet and Others), Targeted Nutrients (Iron, Zinc, Vitamins, Amino Acid and Others), Gene Pool (Primary, Secondary and Tertiary), Technique (Conventional Plant Breeding, Agronomy and Genetic Technology), Country (India, Philippines, Indonesia, Vietnam, Malaysia, Thailand, China, South Korea, Australia, New Zealand, Japan, Singapore and Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Asia-Pacific Biofortification Market
Data Bridge Market Research analyses that the global biofortification market will project a CAGR of 8.60% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, ever-rising population around the globe, rising consumer consciousness towards high quality, healthy and nutritional food products, surging investments in agro-genomics and increasing personal disposable income by the major companies are the major factors attributable to the growth of biofortification market. Therefore, the market value would rocket up to USD 0.036 billion by 2028.
Biofortification is a process wherein the nutrient content in crops is enhanced with the help of modern biotechnology techniques, agronomic practices and conventional plant breeding. In other words, this process is used to enhance the micronutrient proportions and minimize the micronutrient deficiencies.
Rising awareness about the unrestricted environment for biofortification and surge in the funding and capital for agronomic activities and technological improvements are the major factors fostering the growth of the market. Growing advancements in the agricultural sector and surging use of biofortification technology in crops such as beans are other important factors acting as market growth determinants. Increased technological advancements in agriculture and biotechnology industries and growing number of public awareness programs will further induce growth in the market value.
However, expensive nature and stringent regulations imposed by the government pertaining to the production and commercialization of transgenic crops will pose a major challenge to the growth of the market. Limitations in the production process and lack of awareness about nutritionally improved crops in the underdeveloped economies will also hamper the market growth rate. Restrictions on the production of genetically-modified crops will yet again derail the market growth rate.
This biofortification market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on biofortification market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Biofortification Market Scope and Market Size
The biofortification market is segmented on the basis of crop type, target nutrients, gene pool and technique. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of crop type, the biofortification market has been segmented into sweet potato, cassava, rice, corn, wheat, beans, pearl millet and others.
- Based on target nutrients, the biofortification market has been segmented into iron, zinc, vitamins, amino acid and others.
- Biofortification market has also been segmented into on the basis of gene pool into primary, secondary and tertiary.
- The technique segment of the biofortification market has been segmented into conventional plant breeding, agronomy and genetic technology.
Asia-Pacific Biofortification Market Country Level Analysis
The biofortification market is analyses and market size, volume information is provided by country, crop type, target nutrients, gene pool and technique as referenced above.
The countries covered in the biofortification market report are India, Philippines, Indonesia, Vietnam, Malaysia, Thailand, China, South Korea, Australia, New Zealand, Japan, Singapore and Rest of Asia-Pacific.
Emerging economies such as China and India in Asia-Pacific region dominate the biofortification market and will continue to during the forecast period owing to the growing investments in agro-genomics and increasing awareness about the autonomous environment for biofortification.
The country section of the biofortification market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Biofortification Market Share Analysis
The biofortification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to biofortification market.
The major players covered in the biofortification market report are Syngenta Crop Protection AG, HarvestPlus, Precigen., Arcadia Biosciences., Bayer AG, Intertek Group plc, Corteva., LemnaTec GmbH. among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.