Report Ocean recently released a research report on the Agricultural Biotechnology Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global agricultural biotechnology market size was US$ 33.2 billion in 2021. The global agricultural biotechnology market is forecast to reach US$ 55.2 billion by 2030, registering a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
Agricultural biotechnology is a combination of prominent approaches used for increasing crop yield. It gives farmers access to affordable and productive technologies to help them protect crops from disease and change the genetic sequence of crops.
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Factors Influencing
- The primary growth drivers for the global agricultural biotechnology market are increasing population size and the growing need for transgenic crops. The population globally is increasing rapidly. Thus, it is raising the demand for food. Moreover, growing initiatives from authorities to stop hunger would ultimately fuel market growth.
- Increasing demand for genetically modified crops will propel the growth of the agricultural biotechnology market. Moreover, increasing per capita income and regulatory reinforcement in the United States and Brazil will escalate the demand for agricultural biotechnology.
- The growing popularity of genetically modified crops in emerging economies and rising agricultural requirements and research efforts are forecast to propel market growth.
- Strict rules and guidelines associated with the registration of genetically modified products may hamper the growth of the market.
Geographic Analysis
Geographically, North America is the largest agricultural biotechnology market due to the increasing adoption of biotechnologies, reducing the use of pesticides, and growing advancements in the agricultural sector. Moreover, increasing research activities to cater to the demand of the growing population of North American will fuel the agricultural biotechnology market growth.
Due to the growing acceptance of new farming techniques, Asia-Pacific is expected to develop, registering a high CAGR during the study period. Furthermore, rising disposable income increased and growing demand for food to cater to the population demand are expected to accelerate the growth of the global agricultural biotechnology market.
COVID-19 Impact Analysis
During the COVID-19 pandemic, the demand for food increased rapidly. As many people lost their jobs and worked at low wages, governments of various countries took the initiative to feed the population. As a result, the global agricultural biotechnology market grew rapidly. However, the unavailability of raw materials and workforce creates various challenges in the manufacturing and production activities. Thus, market players witnessed a severe decline in terms of revenue generation, majorly during the initial phase of the COVID-19.
The global agricultural biotechnology market is expected to grow rapidly after the authorities lift lockdown restrictions. Moreover, increasing demand for food and the rapidly growing population of emerging countries will fuel the market growth.
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Competitors in the Market
- Syngenta AG
- Bayer AG
- Evogene Ltd.
- DowDuPont Inc.
- BASF SE
- Performance Plants Inc.
- Global Bio-chem Technology Group Company Limited
- Vilmorin & Cie
- Certis USA LLC
- ADAMA Agricultural Solutions Ltd
- Other prominent players
Market Segmentation
The global agricultural biotechnology market segmentation focuses on Technology, Product, and Region.
Insight by Technology
- Genome editing tools
- Ribonucleic acid interference (RNAi)
- Biochips
- Deoxy ribonucleic acid (DNA) sequencing
- Synthetic biology
Insight by Product
- Transgenic seeds
- Crop protection products
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
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- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Agricultural Biotechnology Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Agricultural Biotechnology market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Agricultural Biotechnology Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Agricultural Biotechnology market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Agricultural Biotechnology market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Agricultural Biotechnology market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Agricultural Biotechnology market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Agricultural Biotechnology business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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