Increasing need for new breeding techniques is the key factor driving market growth. Biotechnology tools are significantly gaining popularity across agricultural applications.

Agricultural biotechnology, a branch of agriculture, uses scientific tools and techniques to modify plants for better yield. It is also known in other name, agritech. Agricultural biotechnology is used to improve agricultural crop productivity. It is a collection of scientific tools and procedures, which can be used on plants or living organisms. Agricultural biotechnology is widely used to change the genome sequence of different crops. These altered crops can be termed as genetically modified or transgenic crops. Agricultural biotechnology has benefitted producers, farmers, and consumers with good food quality and high crop yield.

Increasing need for new breeding techniques is the key factor driving market growth. Biotechnology tools are significantly gaining popularity across agricultural applications. These applications include marker-assisted selection or molecular breeding, tissue culture and micro propagation, molecular diagnostic technologies, genetically modified crops & genetic engineering, and conventional plant breeding. Demand for agricultural biotechnology has been increasing significantly due to increasing adoption of Genetically Modified (GM) crops around the globe. This is due to genetic modifications allow the production of food crops and feed with various enhanced characteristics including high yield, high nutritional value, resistance against diseases and insects, and enhanced food-processing qualities.

Global Agricultural Biotechnology Market Segment Analysis:

By Application: The transgenic crops and animal segment accounts for highest revenue share compared to other application segments. This can be attributed to wide use of it by farmers globally.

By Organism Type: Among the organism type segments, the plants segment is expected to continue to dominate the market in terms of revenue share over the forecast period. This can be attributed to wide use of agricultural biotechnology by farmers to alter various plants for better crop productivity.

Global Agricultural Biotechnology Market Regional Analysis:

Among the regional markets, the market in North America dominates in terms of revenue share in the global agricultural biotechnology market and this trend is expected to continue over the forecast period. This growth can be attributed to wide range of agro-climatic zones and crops, and large global Genetically Modified (GM) planted areas in the region. In addition, North America remains a net exporter of different agricultural products, which include 30% production of soybean, wheat, and corn globally.

Among the regions, Asia Pacific is projected to register a fastest revenue growth owing to the region occupying around 40% of the global cropped area.