The agricultural biotechnology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Agricultural Biotechnology Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The agricultural biotechnology market size has grown rapidly in recent years.
It will grow from $55.24 billion in 2023 to $60.93 billion in 2024 at a
compound annual growth rate (CAGR) of 10.30%. The growth in the historic period
can be attributed to increased population and food demand, crop resistance to
pests and diseases, improved crop characteristics, advancements in genetic
engineering techniques, environmental concerns and sustainable agriculture.
The agricultural biotechnology market size is expected to see rapid growth in
the next few years. It will grow to $89.52 billion in 2028 at a compound annual
growth rate (CAGR) of 10.10%. The growth in the forecast period can be
attributed to rising focus on precision agriculture, climate change adaptation,
consumer demand for sustainable practices, global trade dynamics, emerging
markets and developing economies. Major trends in the forecast period include
collaboration and partnerships, technological innovations, biosecurity and
pandemic preparedness, gene editing technologies dominance, digital agriculture
integration.
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Scope Of Agricultural Biotechnology Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Agricultural Biotechnology Market Overview
Market Drivers -
The increased food demand is expected to propel the growth of the agricultural
biotechnology market going forward. Food demand refers to the quantity and
variety of food products consumers desire and are willing to purchase within a
given period. Increased food demand is due to population growth, urbanization,
and shifting dietary preferences. Agricultural biotechnology boosts food demand
by enhancing crop productivity, improving crop quality, and increasing
resilience to environmental stresses. For instance, according to reports
published by the U.S. Bureau of Labor Statistics, a U.S. government agency,
average household spending on food increased by 12.7% from 2021 to 2022, which
is fueled by a 20.1% increase in spending on meals away from home and an 8.4%
increase in spending on food at home. Therefore, the increased food demand is
driving the growth of the agricultural biotechnology market.
Market Trends -
Major companies operating in the agricultural biotechnology market are
concentrating on innovative biotechnologies, such as pipelines with integrated
solutions, to accelerate agriculture's transformation and overcome local and
crop system climate challenges. This solution combines crop protection, seeds
and traits, technologies, tools, and methodologies to optimize farming
practices, increase productivity, and improve sustainability. For instance, in
March 2023, BASF SE, a Germany-based chemical company, launched an innovation
pipeline with integrated solutions to accelerate agriculture's transformation.
This solution provides farmers with much-needed solutions to address local and
crop-specific pest pressures, climatic problems, changing regulatory
requirements, and expanding consumer demands. Additionally, this can help farmers
optimize their inputs, reduce waste, and improve yields, leading to lower
emissions. It also enhances climate resilience, biodiversity preservation, and
precision applications.
The agricultural biotechnology market covered in this report is segmented –
1) By Organism Type: Plants, Animal, Microbes
2) By Technology: Genetic Engineering, Tissue Culture, Embryo Rescue, Somatic
Hybridization, Molecular Diagnostics, Vaccine, Other Technologies
3) By Application: Vaccine Development, Transgenic Crop And Animals, Antibiotic
Development, Nutritional Supplements, Flower Culturing, Biofuels
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Regional Insights -
North America was the largest region in the agricultural biotechnology market
in 2023. Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the agricultural biotechnology market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies operating in the agricultural biotechnology market are BASF SE,
Dow AgroSciences Inc., Bayer AG, Syngenta AG, Monsanto Company , DuPont de
Nemours Inc., Novozymes A/S, Certis USA, Vilmorin & Cie SA, KWS SAAT SE,
Indigo Agriculture Inc., Bioceres Crop Solutions Corp., Ginkgo Bioworks
Holdings Inc., AgBiome Inc., Pairwise Plants Services Inc., Marrone Bio
Innovations Inc., Agrivida Inc., Intrexon Corporation , Phytelligence Inc.,
Cibus Global Ltd., Arcadia Biosciences Inc., ZeaKal Inc., NewLeaf Symbiotics
Inc., Evogene Ltd., GreenLight Biosciences Inc.
Table of Contents
1. Executive Summary
2. Agricultural Biotechnology Market Report Structure
3. Agricultural Biotechnology Market Trends And Strategies
4. Agricultural Biotechnology Market – Macro Economic Scenario
5. Agricultural Biotechnology Market Size And Growth
…..
27. Agricultural Biotechnology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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