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Global Agricultural Biotechnology Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2028

Agricultural biotechnology is a set of scientific methods and tools which can be utilized on plants or living creatures or on both of them concurrently to enhance the output of the crops. It is mainly utilized to change the sequence of the genome of agricultural crops, which are referred to as genetically tailored or transgenic. This has helped manufacturers, peasants, and customers with huge crop output and the best food quality.

The global agricultural biotechnology market was valued at us$ 29.3 Billion in 2020 and is projected to reach us$ 60.56 Bn by 2028, growing at a CAGR of 9.5% during the forecasted period from the year 2020 to the year 2028.

The global agricultural biotechnology market has been divided into transgenic crops, tools, and synthetic biology-enabled items based on their applications and uses. Demand for food production has grown owing to the large population resulting in the requirement for more food to fulfill the food requirements of the global population. This is one of the key factors contributing to market growth.

Growing demand for biofuels due to the rise in depletion of traditional resources and rising demand for transgenic crops owing to enhanced demand for food is predicted to boost the growth and expansion of the agricultural biotechnology market worldwide.

A large proportion of ongoing research & development in this field of agricultural biotechnology is done in the regions of Africa and the Asia Pacific. This is anticipated to offer more business opportunities and growth prospects for the industry participants in the global agricultural biotechnology market. But the strong resistance to genetically tailored crops in the continent of Europe is predicted to hinder the growth of the universal agricultural biotechnology market. Also, the copyrights protecting the market sector are likely to hinder the expansion and growth of the global agricultural biotechnology market.

Transgenic agricultural crops evolved as the biggest application section of the universal agricultural biotechnology market in the year 2019. A decrease in cultivable land and growing demand for food (and food products) are expected to stimulate the growth of transgenic agricultural crops application. Transgenic seeds provide high crop output than traditional seeds. Application and use of biotechnology on agricultural items through genetic variation or through genetic reengineering have resulted in the growth of transgenic agricultural crops from transgenic agricultural seeds. This has resulted in increased output, pest resistance, long life shelf, and high dietary value and thus minimized the demand-supply gap for food cereals and products. Due to all these factors, transgenic agricultural crops contribute a major part of the total market share of the universal agricultural biotechnology market. These crops are widely accepted by developed as well as developing economies.

Cotton, corn, and Soybeans are types of transgenic agricultural crops. Soybeans and corn are the most consumed genetically modified crops worldwide. Rising demand for animal feed to fulfill the growing meat demand is expected to contribute to the enhanced /improved growth of crops resulting in the growth and expansion of the global agricultural biotechnology market. Soybean is predicted to display rapid growth among genetically modified crops in the future. Corn is utilized in different industrial applications like the production of biofuels & bioplastics, apart from it being consumed as a food grain in various parts of the world. Cotton is extensively used in the region of Asia owing to its heavy demand from the textile market /sector. Other agricultural crops like canola, sugarcane, and sugar beet held nearly about 10% of the total market share of the universal agricultural biotechnology market in the year 2019.

The global agricultural biotechnology market has been divided into four geographical regions comprising the subcontinent of North America, the continent of Europe, the APAC Zone, and the Rest of the World based on location. The market was led by the subcontinent of North America owing to the high cultivation of genetically altered crops, emergence & growth of modern technologies, and large-scale adoption of these crops by customers contributing to the growth of the market in this region. This sub-continent of North America contributed about 32.5% of the market share of the total market in the year 2019.

Biotechnological firms are expending 15% to 20% of their total revenues on research and development activities. Firms are setting up research & development centers in the APAC region to keep pace with the global competition. The APAC zone is predicted to expand enormously in the future, owing to the rise in demand for bio-based items and food. APAC region is expected to accrue a revenue of about ** million US dollars by the end of the year 2019. Growing demand for high crop output as well as food output along with fast-growing industrialization is going to fuel the growth of the agricultural biotechnology market in this zone of Asia Pacific.

The continent of Europe is responsible for a large amount of consumption or large-scale intake of genetically modified crops for animal feed which it imports from countries like the USA and Brazil located in the American continent. But due to the stringent government rules and rejection of genetically modified crops by the customers, this region is not ranked high among the producers of genetically altered crops. So the continent of Europe does not make any significant direct contribution or add to the increment in growth elevation and expansion of the agricultural biotechnology market.

Large-scale transgenic crop production is predicted to stimulate the growth of the agricultural biotechnology market in the region and the rest of the world during the forecasted period.

The market report of the global agricultural biotechnology market includes detailed information about market opportunities, market competitive dynamics, competitive landscape, market trends, technological trends, company overview, product portfolio, business overview, market overview, business strategy, market strategy, market restraints, market diversification, market segmentation, market classification, product differentiation, product benchmarking, new product launches, market penetration, product innovation, financial overview, product research, product growth matrix, market growth matrix, product development, market uncertainties, market size, market structure, market fluctuations, market performance indicators, market development, market behavior trends, consumer behavior trends, consumer tastes, consumer preferences, market scenario, niche market, target market, market position, market demand, market branding, market supply, and market growth factors.

The market report of the global agricultural biotechnology market also includes different kinds of market research analysis like product analysis, value chain analysis, portfolio analysis, trend analysis, opportunity analysis, competitive analysis, comparative analysis, risk analysis, risk assessment analysis, profit analysis, variation analysis, performance analysis, cost-benefit analysis, porter five force analysis, market share analysis, market attractiveness analysis, raw materials analysis, supply chain analysis, business analysis, comparative analysis, demand analysis, supply analysis, variance analysis, environmental analysis, strategic analysis, scenario analysis, PESTEL analysis, and SWOT analysis.

 The market report also provides detailed information about the macroeconomic and microeconomic environment of the business industry, which helps the existing market players as well as the new business entrants in shaping their business strategies and thus helping them in expanding and growing their business far and wide.

All these concepts displayed in the market research report are thus explained in a lucid and simple manner with the help and assistance of the data representation graphical, pictorial tools like graphs, diagrams, histograms, tables, charts, and spreadsheets.

The top three firms involved in the business of the agricultural biotechnology sector and functioning in the global agricultural biotechnology market accounted for approximately about 48% of the total market share in the year 2019. In addition to this, a large number of market players are acquiring or merging with small local players and forming associations and partnerships with high-quality top research firms or big crop growers in order to expand and increase their share in the global agricultural biotechnology market along with gaining a competitive edge over their business rivals /business competitors.

The key market participants involved in the business of the agricultural biotechnology segment/sector/section and profiled in this market report include Certis USA, Du Pont Pioneer Hi-Bred, Syngenta, KWS SAAT AG, Bayer CropScience AG, Evogene Limited, ADAMA Agricultural Solutions Limited, Mycogen Seeds, Global Bio-chem Technology, Monsanto, Performance Plants Incorporation, Rubicon and Vilmorin.

Frequently Asked Questions

The market for Agricultural Biotechnology is expected to reach USD 29.3 billion in 2020.

The Agricultural Biotechnology market is expected to see significant CAGR growth over the coming years, at 9.5%.

The report is forcasted to 2020.

The base year of this report is 2019.

KWS SAAT AG, Bayer CropScience AG, Evogene Limited, ADAMA Agricultural Solutions Limited, Mycogen Seeds, Global Bio-chem Technology. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Mar 2016
Category:  Agriculture
Report ID:   57729
Report Format:   PDF
Pages:   120
Rating:    4.5 (40)
Delivery Time: 24 Hours to 48 Hours   
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