Global Agricultural Biotechnology Market, By Product Type (Mycotoxin Binders, Mycotoxin Modifiers), Livestock (Poultry, Layers, Breeders, Swine, Aquatic Animals, Others), Source (Inorganic, Organic), Form (Dry, Liquid), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Agricultural Biotechnology Market
Data Bridge Market Research analyses that the agricultural biotechnology market will project a compound annual growth rate (CAGR) of 10.44% during the forecast period of 2022-2029. Growing rate of production of fruits and vegetables especially in the developing economies such as China and India, increasing focus on the latest trends in the market, growing application of advanced and modern agricultural and farming practices, high growth in emerging countries coupled with high adoption of innovative technologies, and increasing industry competitiveness are the major factors attributable to the growth of agricultural biotechnology market.
Also known as agritech, agricultural biotechnology is an agricultural science of the application of a wide range of scientific tools and techniques that alter living organisms, or parts of organisms with an aim to develop microorganisms for specific agricultural uses. The aim behind the application of agricultural biotechnology is to improve the quality of the seed and plant, improve the soil health, improve animal health and breeding and develop biofuels.
Increment in the production and breeding of transgenic crops all around the globe owing to the rising demand for food and ever-rising global population is another important factor bolstering the demand and application of agricultural biotechnology. Also, growing application of biotechnology in the cultivation of these crops to enhance the production value in terms of size, color, or yield by modifying their traits will create greater opportunities. The growth and expansion of agricultural industry especially in the developing economies is responsible for fostering growth in the demand for the application of agricultural biotechnology. Increased penetration of biotechnology, tissue culture, and molecular breeding in the field of agriculture is generating profits for the agricultural industry. Furthermore, upsurge in the public-private funding for target research activities and rising product innovations and development owing to technological advancements in the agricultural field all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rise in the quality food demand which is free from pesticides or insecticides, surging number of strategic collaborations, rising adoption of biofuels and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
However, supply chain disruptions as a result of COVID-19 pandemic is a major factor that will pose a major challenge to the growth of the market. Also, fluctuating costs of the raw materials, lack of awareness among the small-scale livestock growers and lack required infrastructure facilities in the underdeveloped economies will further slowdown the market growth rate. High costs of research and development operations and stringent regulations by government for modified crops would hamper the market growth rate.
This agricultural biotechnology 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 agricultural biotechnology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Agricultural Biotechnology Market Scope and Market Size
The global agricultural biotechnology market is segmented on the product type, livestock, source and form. 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 type, the agricultural biotechnology market is segmented into molecular diagnostics, molecular markers, tissue culture, vaccines, genetic engineering, and others.
- On the basis of application, the agricultural biotechnology market is bifurcated into transgenic crops, flower culturing, nutritional supplements, biofuels, antibiotic development, vaccine development and others.
- On the basis of organism type, the agricultural biotechnology market is divided into plants, animals, microbes, and others.
- On the basis of technology, the agricultural biotechnology market is fragmented into genome editing tools, ribonucleic acid interference [RNAi], biochips, deoxy ribonucleic acid [DNA] sequencing, and synthetic biology.
- Based on the product, the agricultural biotechnology market is segregated into crop protection products, transgenic seeds, and synthetic biology-enables products. Crop protection products are further sub-categorized into biostimulants, and biopesticides. Transgenic seeds are further sub-segmented into soybean, fruits and vegetables, maize, cotton, and others.
Agricultural Biotechnology Market Country Level Analysis
The global agricultural biotechnology market is segmented on the product type, livestock, source and form.
The countries covered in the agricultural biotechnology market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the agricultural biotechnology market due to the expanding genetic techniques acceptance for crops, reduction in the usage of pesticides in farming while Asia-Pacific is expected to grow at the highest growth rate due to the focus of modern farming techniques, boosting personal disposable incomes, and germinating demand of food by surging population.
The country section of the agricultural biotechnology 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 Agricultural Biotechnology Market Share Analysis
The global agricultural biotechnology 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 agricultural biotechnology market.
Some of the major players operating in the agricultural biotechnology market are KWS SAAT SE & Co. KGaA, ChemChina, Corteva., Limagrain, MITSUI & CO., LTD., AgPlenus ltd., Biomica, Evogene Ltd., Canonic ltd., Bayer AG, Valent BioSciences LLC, Nufarm Limited, Marrone Bio Innovations., Performance Plants Inc., ADAMA Ltd.. Cargill, Incorporated., DuPont., Kemin Industries, Inc., Novozymes and DSM among others.
Customization Available : Global Agricultural Biotechnology Market
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