What are the Historical Developments and Current Growth Metrics of the Agricultural Biotechnology Market?
The agricultural biotechnology market has seen considerable growth due to a variety of factors.
• The market size of agricultural biotechnology has experienced robust expansion in the past few years. The market is projected to escalate from $44.82 billion in 2024 to $49.18 billion in 2025, growing at a compound annual growth rate (CAGR) of 9.7%.
Factors that contributed to the growth during the historical period include an increase in population and food requirement, enhanced resistance of crops to pests and diseases, improved properties of crops, advancements in the field of genetic engineering, concerns about the environment, and the shift towards sustainable farming practices.
What Does Future Hold for The Agricultural Biotechnology Market?
The agricultural biotechnology market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the agricultural biotechnology market is predicted to experience swift expansion in the coming years, reaching $72.27 billion by 2029 with a compound annual growth rate (CAGR) of 10.1%.
The growth during this forecast period can be traced back to areas like increased attention towards precision farming, adaptation to climate change, consumer demand for sustainability, global trade movements, emerging markets, and developing economies. Significant trends for this forecasted period encompass collaborations and partnerships, technological advancements, biosecurity and preparedness for pandemics, dominance of gene-editing technologies, and the incorporation of digital agriculture.
What Are The Essential Drivers Behind The Growth Of The Agricultural Biotechnology Market?
The growth of the agricultural biotechnology industry is anticipated to be driven by a surge in food requirement. The term "food demand" is used to describe the amount and variety of foodstuffs that consumers wish and are able to buy within a particular time frame. The rise in food demand can be attributed to population growth, urbanization, and changes in dietary habits. Agricultural biotechnology aids in escalating food demand by improving crop productivity, enhancing the quality of crops, and making them more resilient to environmental challenges. This is evidenced by data from the U.S. Bureau of Labor Statistics, which is an agency of the U.S. government. It reports that the average food expenditure of households increased by 12.7% from 2021 to 2022, a rise attributed to a 20.1% increase in the amount spent on food consumed outside the home and an 8.4% increase in that spent on household food. Thus, heightened food demand is encouraging the expansion of the agricultural biotechnology market.
What Is The Segmentation Of The Global Agricultural Biotechnology Market?
The agricultural biotechnology market covered in this report is segmented –
1) By Organism Type: Plants, Animal, Microbes
2) By Technology: Genetic Engineering, Tissue Culture, Embryo Rescue, Somatic Hybridization, Molecular Diagnostics, Vaccine, Other Technologies
3) By Application: Vaccine Development, Transgenic Crop And Animals, Antibiotic Development, Nutritional Supplements, Flower Culturing, Biofuels
Subsegments:
1) By Plants: Genetically Modified Crops, Biofortified Crops, Crop Protection Products
2) By Animals: Genetically Modified Animals, Animal Vaccines, Animal Feed Additives
3) By Microbes: Microbial Biopesticides, Microbial Biofertilizers, Microbial Enzymes
Pre-Book The Agricultural Biotechnology Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Shaping The Agricultural Biotechnology Market Landscape?
Leading companies in the agricultural biotechnology market are focusing on inventive biotechnologies like integrated solutions pipelines to boost agricultural progress and confront climate challenges for local and crop systems. These solutions amalgamate crop protection, seeds and traits, technologies, tools, and methods to refine farming techniques, elevate productivity, and promote sustainability. For example, in March 2023, BASF SE, a Germany-based chemical firm, introduced an innovation pipeline featuring integrated solutions aimed at facilitating the transformation of agriculture. This solution equips farmers with crucial ways to combat local and crop-specific pest pressures, weather issues, evolving regulatory requirements, and growing consumer demands. Moreover, it aids farmers to fine-tune their inputs, lessen waste, and heighten yields, which results in decreased emissions. It also bolsters climate resilience, preservation of biodiversity, and precision applications.
Who Are the Key Players In The Agricultural Biotechnology Market?
Major companies operating in the agricultural biotechnology market are:
• BASF SE
• Dow AgroSciences Inc.
• Bayer AG
• Syngenta AG
• Monsanto Company
• DuPont de Nemours Inc.
• Novozymes A/S
• Certis USA
• Vilmorin & Cie SA
• KWS SAAT SE
• Indigo Agriculture Inc.
• Bioceres Crop Solutions Corp.
• Ginkgo Bioworks Holdings Inc.
• AgBiome Inc.
• Pairwise Plants Services Inc.
• Marrone Bio Innovations Inc.
• Agrivida Inc.
• Intrexon Corporation
• Phytelligence Inc.
• Cibus Global Ltd.
• Arcadia Biosciences Inc.
• ZeaKal Inc.
• NewLeaf Symbiotics Inc.
• Evogene Ltd.
• GreenLight Biosciences Inc.
What Are The Regional Insights Into The Agricultural Biotechnology Market?
North America was the largest region in the agricultural biotechnology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agricultural biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
