Agricultural Biotechnology Market to Grow with a CAGR of 9.11% through 2029

Advancements in genetic engineering is expected to drive the Global Agricultural Biotechnology Market growth in the forecast period, 2025-2029

 

According to TechSci Research report, “Agricultural Biotechnology Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Agricultural Biotechnology Market stood at USD 96.12 billion in 2023 and is anticipated to grow with a CAGR of 9.11% through 2029. With mounting environmental concerns and a push for sustainable practices, there's a rising demand for agricultural solutions that minimize environmental impact while maximizing productivity. Biotechnology offers various sustainable agricultural practices, notably the development of crops needing fewer chemical inputs, like pesticides and fertilizers. By lessening dependence on traditional farming methods, biotech crops aid in mitigating environmental degradation, preserving natural resources, and enhancing ecosystem health. As sustainability garners attention from consumers, policymakers, and businesses, the market for sustainable agricultural biotechnology is primed for notable growth.

Agricultural biotechnology addresses the imperative for heightened crop productivity to meet escalating demands for food, feed, and fiber. Biotech traits, exemplified by genetically modified (GM) seeds, facilitate the creation of crops featuring attributes like herbicide tolerance, insect resistance, drought tolerance, and enhanced nutrient utilization. These traits bolster crop yields, diminish crop losses, and elevate overall agricultural productivity.

The continuous progression of genetic engineering techniques propels the expansion of the Agricultural Biotechnology Market. Emerging tools and technologies, such as gene editing (e.g., CRISPR-Cas9), enable precise and efficient modification of crop genomes. These advancements expedite the development of crops with desired traits, hastening the breeding process and streamlining product development and commercialization.

The need for sustainable agricultural practices is driving the demand for agricultural biotechnology solutions. Biotech traits and technologies contribute to sustainable farming by reducing the environmental impact of agriculture. For example, insect-resistant crops reduce the need for chemical insecticides, leading to lower pesticide residues in the environment, improved worker safety, and reduced ecosystem disruption.

 

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Precision agriculture, facilitated by agricultural biotechnology, is gaining momentum in the market. Precision agriculture leverages technologies like remote sensing, GPS, and data analytics to optimize crop management practices. Biotechnology plays a pivotal role by furnishing genetically modified crops with traits such as herbicide tolerance and insect resistance. This enables farmers to deploy targeted and efficient farming practices, optimize resource allocation, trim input costs, and elevate overall productivity.

There's a burgeoning focus on sustainable agricultural practices in the Agricultural Biotechnology Market. Consumers, regulatory bodies, and agricultural stakeholders increasingly advocate for environmentally conscious and socially responsible agricultural methods. Biotechnology assumes a critical role by providing solutions like genetically modified crops requiring fewer pesticides, exhibiting enhanced water and nutrient use efficiency, and contributing to greenhouse gas emission reduction. Sustainable biotech traits, such as nitrogen-use efficiency, drought tolerance, and disease resistance, are gaining traction in the market. 

The Global Agricultural Biotechnology Market is segmented into application, organism type, regional distribution, and company

Based on the organism type, plants segment emerged as the dominant segment in the global agricultural biotechnology market in 2023. Plants form the foundation of agricultural ecosystems, serving as the primary source of food, feed, fiber, and biofuel. As such, innovations in plant biotechnology directly impact key sectors of the agricultural industry. Traits engineered into plants, such as resistance to pests, diseases, and environmental stresses, greatly enhance crop productivity and resilience. Additionally, advancements in plant biotechnology contribute to the development of crops with improved nutritional content and agronomic traits, addressing diverse agricultural challenges. The widespread cultivation of crops necessitates comprehensive solutions to ensure sustainable and efficient agricultural practices. Plant biotechnology offers precisely that, providing tools and techniques for the development of genetically modified organisms (GMOs) tailored to meet the specific needs of farmers and consumers. By harnessing genetic modification, genome editing, and trait selection, plant biotechnology enables the creation of crops optimized for various agroecological conditions and farming systems.

Also, the regulatory landscape surrounding plant biotechnology has evolved to accommodate the commercialization and adoption of genetically modified crops. Regulatory frameworks, while stringent, provide pathways for the approval and cultivation of biotech crops in many regions globally. This regulatory clarity fosters investment and innovation in plant biotechnology, further consolidating its dominance in the agricultural biotechnology market. The widespread acceptance of biotech crops among farmers underscores the practical value and benefits offered by plant biotechnology solutions. Farmers recognize the advantages of planting genetically modified crops, such as increased yields, reduced input costs, and enhanced pest and disease management. As a result, the adoption of biotech crops continues to grow, driving the expansion of the plant biotechnology segment in the global agricultural biotechnology market.

North America emerged as the dominant player in the global agricultural biotechnology market in 2023, holding the largest market share. North America benefits from supportive government policies and regulatory frameworks that promote the adoption and commercialization of biotech crops. Regulatory agencies like the United States Department of Agriculture (USDA) and Health Canada have established clear guidelines and approval processes for genetically modified organisms (GMOs), offering assurance and stability for biotech firms operating in the region. This regulatory transparency encourages innovation, investment, and market expansion in the agricultural biotechnology sector. Additionally, North America's extensive commercial agriculture and diverse agroecological regions create an optimal environment for testing, cultivating, and scaling up biotech crops.

 

Major companies operating in Global Agricultural Biotechnology Market are:

• ADAMA 
• Corteva Agriscience
• Evogene Ltd.
• KWS SAAT SE & Co. KGaA
• Bayer AG
• Pro Farm Group Inc.
• MITSUI & CO., LTD
• Limagrain
• Nufarm Limited
• Valent BioSciences LLC

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“The Global Agricultural Biotechnology Market is poised for significant growth in the coming years. Anticipated advancements in genetic engineering technologies, such as CRISPR-Cas9, promise to revolutionize crop development, enhancing traits like yield, pest resistance, and nutritional content. Moreover, the escalating demand for sustainable agriculture solutions amid environmental concerns and resource constraints is expected to fuel market expansion. The adoption of digital agriculture technologies, including precision farming and data analytics, offers opportunities to optimize crop management practices and improve productivity. Additionally, the growing global population and increasing focus on health and nutrition are driving demand for genetically modified crops with enhanced nutritional profiles.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Agricultural Biotechnology Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Transgenic Crops & Animals, Vaccine Development, Nutritional Supplements, Antibiotic Development, Biofuels, And Flower Culturing), By Organism Type (Plants, Animals, And Microbes) Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Agricultural Biotechnology Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Agricultural Biotechnology Market.

 

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