In 2022, the global agricultural biotechnology market was valued at US$ 111 billion and is expected to reach around US$ 232 Billion by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.86%.

Report Overview

In 2022, the global agricultural biotechnology market was valued at US$ 111 billion and is expected to reach around US$ 232 Billion by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.86%.


get a sample copy of the report https://market.us/report/agricultural-biotechnology-market/request-sample/

Key Takeaways
The agricultural biotechnology market is projected to achieve USD 232 billion in revenue by 2032, growing at a CAGR of 7.86% from 2023 to 2032.
Genetic modification of crops enhances nutrient content, food processing, pest and disease resistance, yield levels, nitrogen fixation, and resilience to adverse weather conditions.
In 2022, the global agricultural biotechnology market generated approximately USD 111 billion in revenue.
Agritech employs scientific tools to enhance crop yields, with genetically modified or transgenic crops showcasing modified traits.
Innovative breeding techniques are increasingly sought after in the industry.
Plant organisms are the primary revenue contributors in the market.
Transgenic crops and animals represent the highest revenue-generating applications.
North America leads with a market share of 35.3%, followed by the Asia Pacific region.
Biotechnology tools are extensively utilized in agriculture, driving market growth.
Growth factors include the adoption of genetically modified crops, demand for sustainable agriculture, and marker-assisted breeding.
The increasing global population necessitates higher food production and organic fertilizer demand.
Market growth faces challenges such as the high costs associated with biotechnology products and concerns over environmental and health impacts.
Key players in the agricultural biotechnology market include ADAMA Agricultural Solutions Ltd., BASF SE, Bayer AG, and others.
Lavie Bio Ltd. focuses on enhancing food quality and sustainability through microbiological-based products.

Key Market Segments
By Organism Type
Plants
Animals
Microbes
By Application
Vaccine Development
Transgenic Crops & Animals
Antibiotic Development
Nutritional Supplements
Flower Culturing
Biofuels
Other Applications
Key Regions
North America (The US, Canada, Mexico)
Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)
Key Players
ADAMA Agricultural Solutions Ltd.
BASF SE
Bayer AG
Benson Hill Inc.
Certis USA LLC
Corteva, Inc.
DuPont de Nemours, Inc.
Eurofins Scientific SE
Evogene Ltd.
Isagro SPA
KWS SAAT SE & Co. KGaA
Marrone Bio Innovations, Inc.
Novozymes A/S
Performance Plants Inc.
Syngenta AG
Vilmorin & Cie S.A
Yield10 Bioscience, Inc.
Other Key Players

If You Have Any Questions About This Report, Please Reach Out to Us at https://market.us/report/agricultural-biotechnology-market/#inquiry

Drivers:


Increasing Demand for Food Security: The growing population base and need for food across the world are boosting the use of agricultural biotechnology for better production and food yield.

Advancements in Genetic Engineering: The advances in biotechnology allow for the use and development of new genetically modified traits including pest resistance, content of nutrients, and ability to withstand stress in the environment.

Growing Preference for Sustainable Agriculture: There is a growing industry that supports sustainable agriculture systems for the efficiency of agricultural products, as a result, the value of biotechnology in farming is increasing.


Trends:

Expansion of Genomic Applications: Use of more genomic tools and methods in the development of crops and identification of traits for improved agriculture.

Rise in Biopharmaceutical Crops: Production of biopharmaceutical crops for medicinal as well as other uses such as for industrial production employing biotechnology to increase production and quality.

Integration of Artificial Intelligence (AI) and Big Data: The use of artificial intelligence and or big data in the enhancement of agricultural activities from climate monitoring to production, estimation of yields, and general management of farms.

Opportunities:

Emerging Markets in Asia-Pacific and Latin America: They might be identified in areas where the agricultural industry is growing and the use of biotechnological approaches is gradually becoming more popular.

Biotechnological Innovations in Crop Nutrition: Possible in improving the yields of nutrient-rich crops and associated biotechniques in the fight against malnutrition and nutrient deficient diet.

Collaborations for Research and Development: Alliances among the biotechnology companies, universities, and governments to support research in the field of agricultural biotechnology and to introduce relevant developments to the market.

Restraints:

Regulatory Challenges: orientation: Regulatory constraints on GMOs and biotechnological products entrancing market accessibility and commercialization.

Public Perception and Consumer Acceptance: The apprehension of consumers and advocacy groups over some biotechnological crops on the aspect of safety, ethical issues, and environmental consequences.

High Development Costs: Unquestionably, the financial burden created by R & D investment as well as the capital spending for embracing infrastructure with a maximum level of biotechnological innovation has become a critical challenging factor among the market players.

Contact Us :
420 Lexington Avenue, Suite 300 New York City, NY 10170,
United States
Phone:+1 718 618 4351 (International),+91 78878 22626 (Asia)
Email: inquiry@market.us