Agricultural Biotechnology Market Size, Demand, Trends, Share, Growth and Forecast 2023-2028

 The latest report by IMARC Group, titled “Agricultural Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global agricultural biotechnology market size reached US$ 131 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 201.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.30% during 2023-2028.

Agricultural biotechnology is a specialized field that employs various scientific techniques, including genetic engineering, tissue culture, and molecular diagnostics, to improve plant and animal productivity as well as food quality. This technology aims to address challenges such as pest resistance, climate adaptability, and nutrient enhancement in crops. It offers solutions for increasing yield while reducing the dependency on chemical fertilizers and pesticides. It is rapidly becoming indispensable in modern farming, as it provides farmers with tools that can make agriculture more sustainable and efficient. From genetically modified crops that are drought-resistant to biopesticides that are less harmful to the environment, this technology plays a critical role in the food production chain. As a result, agricultural biotechnology is extensively used in diverse sectors, including crop production, animal husbandry, and biofuels.

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Agricultural Biotechnology Market Trends and Drivers:

The global agricultural biotechnology market is primarily driven by the growing population worldwide, which has led to a rising demand for food, thus creating an urgent need for higher agricultural yields. Moreover, the challenges posed by climate change on traditional farming practices are propelling the need for more resilient and efficient solutions, which agricultural biotechnology can deliver. Additionally, advancements in molecular biology techniques are opening up new avenues for research and development (R&D), thereby contributing to market growth. Furthermore, the shifting trend toward sustainable agriculture has accelerated the adoption of biotech crops that require fewer inputs and are environmentally friendly. In line with this, several government initiatives and favorable policies aimed at promoting food security and sustainable farming are expected to catalyze market growth in the coming years.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Organism Type:

• Plants
  • Conventional Techniques
  • Established Genetic Modification
  • New Breeding Techniques
• Animals
  • Conventional Techniques
  • Established Genetic Modification
  • New Breeding Techniques
• Microbes
  • Conventional Techniques
  • Established Genetic Modification
  • New Breeding Techniques

Breakup by Technology:

• Genome Editing
• Synthetic Biology
• Genetic Engineering
• Marker-Assisted Breeding
• Plant Breeding
• Germplasm
• Others

Breakup by Application:

• Vaccine Development
• Transgenic Crops and Animals
• Antibiotic Development
• Nutritional Supplements
• Flower Culturing
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• ADAMA Ltd. (Syngenta Group Co. Ltd.)
• BASF SE
• Bayer AG
• DowDuPont
• LGC Biosearch Technologies (LGC Ltd.)
• Performance Plants Inc.
• Yield10 Bioscience Inc.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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