Global Agriculture Biotech Market Predicted to Regain its Position After the Pandemic Debacle with a Stunning CAGR of 8.8% in the 2022-2032 Timeframe [270-Pages] | Interpreted by Research Dive
The global agriculture biotech market is expected to witness prominent growth by 2032, due to the rising need for biotech corporations to improve the nutritional value of crops. Regionally, the North America region is expected to be dominant
NEW YORK, March 24, 2023 /PRNewswire/ --
Global Agriculture Biotech Market Forecast Analysis:
As per the report published by Research Dive, the global agriculture biotech market is envisioned to generate a revenue of $214.6 billion and rise at a CAGR of 8.8% during the forecast timeframe from 2022 to 2032.
Segments of the Agriculture Biotech Market
The report has divided the market into the following segments:
Type: hybrid seeds, transgenic crops, bio-pesticides, and bio-fertilizers
Technology: genetic engineering, tissue culture, embryo rescue, somatic hybridization, molecular diagnostics, vaccine, and others
Application: crop production, crop protection, chemical tolerance, disease resistance, and others
Region: North America, Europe, Asia-Pacific, and LAMEA
Access to the Complete PDF Sample of the Agriculture Biotech Market
Segment |
Sub-Segment |
Type |
Bio-Fertilizers – To have the fastest growth by 2032 |
The increasing demand for biofertilizers in the agriculture sector due to their cost-effectiveness compared to chemical fertilizers and possessing less impact on soil quality is expected to foster the growth of this market sub-segment further. |
|
Technology |
Genetic Engineering – Dominant market share in 2021 |
The increasing applications of genetic engineering in the agriculture sector such as crop improvement, virus resistance, herbicide resistance, delayed fruit ripening, and many more are predicted to boost the sub-segment forward. |
|
Application |
Crop Production – Highest market share in 2021 |
Biotechnology helps farmers to fight against insect problems, promotes crop productivity, improves disease control, and enhances resistance to drought and flooding which is anticipated to bolster the market sub-segment forward. |
|
Region |
North America – To have the biggest market share by 2032 |
The increasing research & development activities, growing population, strong government support, and well-established research infrastructure in this region are the major factors predicted to fuel the growth of the regional market in the coming period. |
Dynamics of the Global Agriculture Biotech Market
The increasing incorporation of biotechnology in the agriculture sector to create crops with higher vitamin content and other important nutrients is the major factor predicted to fortify the growth of the agriculture biotech market during the forecast period. Besides, the increasing demand for food products owing to the growing population is predicted to propel the growth of the market throughout the estimated period. However, the growing effects of human health over agricultural biotechnology may hamper the growth of the market throughout the analysis period.
The increasing use of agricultural biotechnology for marker-assisted breeding is expected to create expansive growth opportunities for the market over the estimated period. Moreover, the growing use of agriculture biotechnology for accelerating plant breeding with more precision than traditional approaches is predicted to amplify market growth during the forecast period.
Covid-19 Impact on the Global Agriculture Biotech Market
The outbreak of the Covid-19 pandemic has severely impacted the agriculture biotech market, like various other industries. Before the pandemic, a huge number of people were already suffering from hunger and the rise of the Covid-19 pandemic has threatened food security adversely across the globe. Moreover, the disruption of domestic food supply chains in many countries along with the economic slowdown has affected the smooth functioning of food systems all around the world. All these factors have declined the market growth over the crisis.
Key Players of the Global Agriculture Biotech Market
The major players of the market include
- Limagrain
- Nufarm
- MITSUI & CO. LTD
- Corteva, Evogene Ltd.
- Bayer AG
- Valent BioSciences LLC
- ChemChina
- Marrone Bio Innovations
- KWS SAAT SE & Co. KGaA
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain a leading position in the global industry.
For instance, in January 2023, Bayer AG, a German multinational pharmaceutical and biotechnology company, announced its collaboration with Oerth Bio, a leading agricultural biotechnology company. With this collaboration, the companies aimed to develop the next generation of more sustainable crop protection products with minimal environmental impacts through lower application rates and favorable safety profiles.
Granular Research on Specific Regions or Segments of Agriculture Biotech Market & Avail 10%OFF
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Agriculture Biotech Market:
- Could Unleashing Agricultural Biotechnology Impart Environmental Benefits Amid Growing Crop Demands?
- Global Agriculture Biotech Market to Generate $214.6 Billion by 2031, Owing to Increased Use of Agriculture Biotech for Marker-Assisted Breeding
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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