Agricultural Biotechnology Market Insights with Statistics and Growth Prediction 2022

Research Reports

Jan 27, 2021

Numerous factors are adding to the agricultural biotechnology market demand. Such factors, as revealed by the latest MRFR report, include growing population size, increasing per capita income, growing demand for transgenic crops, and increasing demand for biofuels. Additional factors adding to the agricultural biotechnology market growth include high investment in agriculture R&D and rising cultivation of biotech crops worldwide

Global Agricultural Biotechnology Market is expected to register a CAGR of 10.10% during the forecast period with a market value of USD 40,818.80 Million till 2022.

Market Analysis

The Market Research Future Report provides an inclusive segmental analysis of the agricultural biotechnology market based on technique, application, and crop type.

By crop type, the agricultural biotechnology market is segmented into cotton, maize, soybean, and others. Of these, the maize segment will lead the market over the forecast period.

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By application, the agricultural biotechnology market is segmented into insect tolerance, stacked traits, herbicide tolerance, and others. Of these, the herbicide tolerance segment will dominate the market over the forecast period.

Regional Analysis

By region, the global agricultural biotechnology market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will lead the market over the forecast period for the constant growth in the adoption of biotech crops. The US is the key contributor in the region, followed by Brazil.

The agricultural biotechnology market in the APAC region is predicted to grow at a high CAGR for favorable government initiatives and high production of biotech crops.

The agricultural biotechnology market in Europe will have less share over the forecast period for the unfavorable scenario of genetically engineered crop production in the region.

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Key Players

Key players profiled in the agricultural biotechnology market report include Yield10 Bioscience, Inc. (US), Evogene Ltd (Israel), Dr. Chip Biotech Inc. (Taiwan), Corteva Agriscience (US), LGC Biosearch Technologies (US), Eurofins Scientific (Luxembourg), Vilmorin & Cie (France), Biocentury Transgene Co., Ltd (China), Bayer AG (Germany), Thermo Fisher Scientific (US), and Arcadia Biosciences (US).

Industry players have incorporated several strategies such as mergers and acquisitions, strategic alliances, joint ventures, new product launches and development, extensive research, and development activities to stay head and shoulders above others in the competition and also cater to consumers growing needs.

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