Agricultural Biotechnology Market 2020 Global Industry Size, Share, Growth Analysis, Business Opportunities, Regional Revenue, Forecast to 2022
Agricultural Biotechnology Market Overview
Market Research Future (MRFR) studied the Global Agricultural Biotechnology Market size 2020 through the analysis period toll 2022. Across 2019 to 2022, the agriculture biotechnology market can rise at 10.10% CAGR. By 2022, the market of agriculture biotechnology can value above USD 27,778.64 Million. The availability of hectares of biotechnology-based production space for the synthesis of biology-enabled plant product and transgenic seeds are creating demand for sophisticated agricultural biotechnology tools. The increase in demand and consumption of biotech crops due to their high quality is observed to encourage key manufacturers to invest in the expansion of their product portfolio. Global food mega-trends are identified to drive the need for higher agricultural yields, creating the demand for biotech designed stimulants and pesticides among other crop protection products. These causes can benefit the global agriculture biotechnology market in the analysis period.
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Agricultural Biotechnology Market Segment Analysis
The segment assessment for the Global Agricultural Biotechnology Market is based on crop type, Technique, and Application. The crop type-based segments of the agriculture biotechnology market are maize, soybean, and cotton among others. The application-based segments of the agricultural biotechnology market are stacked traits, herbicide tolerance, and insect tolerance among others. The technique-based segments of the agriculture biotechnology market are molecular breeding, genetic engineering, tissue culture, and molecular diagnostics. The maize segment can hold share of about 8% for the worldwide market, whereas the genetic engineering segment can account for 41% share of the global market by 2022. The rise in consumption of soyabean among health-conscious people as it is a rich source of protein and issues associated with its cultivation can promoting the need for biotech agriculture solutions can support the market rise.
Agricultural Biotechnology Market Regional Analysis
The Americas agriculture biotechnology market can head the global market as key marketers in the region are identified as hotspots to foster substantial turnover by 2022. The growing need for the cultivation of biotech crops across the US, Argentina, Brazil, and Canada can significantly contribute to the regional agricultural biotechnology market surge in the assessment tenure. The rise in consumption of biotech crops encouraging well-established players for innovation can support market rise. In Europe, the availability of favorable condition for the cultivation of genetically engineered crops can promote the market rise.
In Asia Pacific, there are multiple causes that can impact the market. Expansion of population, rising incomes, and increase in consumption of high-grade food among are some factors that can support expansion of the market in the near future. The increase in feed crops consumption, such as; maize, wheat, and soy, along with the availability of arable land can favor the regional market. Global warming can threat the natural agricultural practices, thus the rise in need for biotechnology solutions of agriculture can add to the regional market rise. Biotechnology offers strategic tools for the agricultural sector to meet the market demands, such as increase in need for crop yields and high productivity. The introduction of means and methods to boost biotech agriculture practices and rise in R&D for the modification of technologies to support new farming practices can favor market rise in the years to come.
Agricultural Biotechnology Market Key Players
Arcadia Biosciences (US)., Bayer AG (Germany), Thermo Fisher Scientific (US), Biocentury Transgene Co., Ltd (China), Eurofins Scientific (Luxembourg), Vilmorin & Cie (France), LGC Biosearch Technologies (US), Corteva Agriscience (US), Evogene Ltd (Israel), Dr. Chip Biotech Inc. (Taiwan), and Yield10 Bioscience, Inc. (US) are companies that are studied by MRFR for understanding the growth dynamics of the global agricultural biotechnology market.
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