Global agricultural biotechnology market revenue will grow from $39,565.6 million in 2020 to $106,870.0 million by 2030, at a 10.7% CAGR between 2021 and 2030.
This will be due to the burgeoning demand for food, which has already been putting immense pressure on the agrarian community for centuries.
In addition, with the expansion of human settlements, the availability of farmlands is reducing, which is why farmers are under intense pressure to make the most of what they have. This is fueling the agricultural biotechnology market advance by leading to the rising adoption of enhanced technologies for crop cultivation. Moreover, the rising disposable income of people is allowing them to purchase genetically modified (GM) crops, which are expensive.
The COVID-19 pandemic has significantly affected the agricultural biotechnology market due to the lockdowns and movement restrictions around the world. On account of the reduced demand for biofuel, its and its feedstock's prices have dwindled. However, the demand for GM crops was not affected much, as the requirement for food for the 7.7 billion people on earth remained stable.
In the coming years, the genome editing category, under the technology segment, will continue to generate the highest agricultural biotechnology market revenue. With this technology, healthier crops, which stay unaffected by droughts and floods and are resistant to insects, can be produced. As a result, the genome editing technology is being extensively researched upon and adopted by the agrarian community.
The fastest growth in the agricultural biotechnology market is predicted to be seen in Asia-Pacific (APAC) during this decade. Being the most-populated region, APAC is witnessing the adoption of modern techniques for the augmentation of the agricultural yield.
Moreover, extensive research and development (R&D) has led to the rapid uptake of GM crops in the region, which are increasingly receiving approvals from regulatory authorities.
Benchmarking of Key Players Based on Product Offering
Recent Strategic Developments of Key Players
Mergers and Acquisitions
Product Launches and Approvals
The most-significant players in the global agricultural biotechnology market are
DuPont de Nemours Inc.
Performance Plants Inc.
Certis USA LLC
Vilmorin & Cie
ADAMA Agricultural Solutions Ltd.
KWS SAAT SE & Co. KGaA
Global Bio-Chem Technology Group Company Limited
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Technology
4.1.2 By Product
Fruits and vegetables
Crop protection products
4.2 Market Dynamics 4.2.1 Trends
Increasing adoption of biofuels
Growing population base
Rising per capita income
Surging demand for transgenic crops
Impact analysis of drivers on market forecast
Stringent regulations pertaining to the registration of GM products
The use of the terminator seed technology
Restriction on GM crops in Europe
Impact analysis of restraints on market forecast
Majority of GM crop cultivation in developing economies
4.3 Porter's Five Forces Analysis 4.4 Impact of Covid-19 4.5 Major Targeted Genes