Agricultural Biotechnology Market by Type (Molecular Diagnostics, Molecular Markers, Tissue Culture, Vaccines, Genetic Engineering, and Others) and by Application (Transgenic Crops, Synthetic Biology-Enables Products, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global agricultural biotechnology market expected to generate around USD 67.01 billion by 2025, at a CAGR of around 10.7% between 2019 and 2025. Agricultural biotechnology is a branch of agriculture in which scientific techniques and tools that are used to modify plants for better yield.

08-Jul-2019 | Number of pages: 110 | Report Code: ZMR-8 | Report Format : | Status : Published

Analysis

Agricultural biotechnology is a branch of agriculture in which scientific techniques and tools that are used to modify plants for better yield. Agricultural biotechnology is also known as agritech, where plant DNAs are generally modified using different techniques, such as molecular markers, vaccines, tissue culture, molecular diagnostics, and genetic engineering, so that they can survive in extreme conditions. The use of agricultural biotechnology benefits the farmers as well as for the environment.

Some factors fuelling the growth of the agricultural biotechnology market are growing population size, rising demand for biofuels, supportive regulations by government of various countries, increasing demand for transgenic plants, rapidly changing environmental conditions that drives the demand for transgenic crops, and escalating per capita income. In 2014, about 181.5 million hectares of agricultural land was used for cultivation of genetically modified crops. This increase in cultivation of GM crops is also fueling the global agricultural biotechnology market. Rising demand for biotechnologically engineered plants and crops in developing countries is driving the agricultural biotechnology market globally. However, growing concerns about the genetically modified plants may limit this global market.

 

The agricultural biotechnology market is divided based on type and application. Based on type, the agricultural biotechnology market includes molecular diagnostics, tissue culture, molecular markers, genetic engineering, vaccines, and others. Genetic engineering is anticipated to dominate the agricultural biotechnology market in the years ahead, owing to the increasing development of genetically modified crops, rapid advancements in genetic engineering techniques, and growing research and development activities related to plant genomes. The application segment of the agricultural biotechnology market is fragmented into synthetic biology-enabled products, transgenic crops, and others. Transgenic crops segment is further divided into corn, soybean, cotton, and others. Transgenic crops are anticipated to dominate the global market , owing to the growing demand for genetically modified plants and transgenic plants due to its characteristics to survive in extreme conditions, and increasing use of transgenic plants in both developed as well as developing countries.

North America is projected to dominate the global agricultural biotechnology market in the future, owing to an early introduction of highly developed techniques, availability of a highly skilled workforce, and presence of advanced research infrastructure. The Asia Pacific region is anticipated to be the most lucrative agricultural biotechnology market in the upcoming years, owing to the rising investments and funding by government, presence of a large population in India and China, and the introduction of recent technologies in developing countries.

Some major players operating in the global agricultural biotechnology market are Monsanto, Vilmorin, Bayer CropScience, Syngenta, Certis, DuPont Pioneer Hi-Bred, Evogene, KWS SAAT, Dow AgroSciences, and Mycogen Seeds.


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