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Agricultural Biotechnology Market

With a compound annual growth rate (CAGR) of XX% from 2024 to 2033, the worldwide agricultural biotechnology industry is projected to reach around US$ XX billion by 2033 from its estimated US$ XX billion in 2023. Agricultural biotechnology is a key driver of growth in the farming sector since it provides efficient and economical techniques of production. Engineered crops that are resistant to specific herbicides make weed control procedures easier to understand and more effective. In a similar vein, crops that have been genetically modified to withstand pests and illnesses support attempts to manage pests and lessen dependency on artificial pesticides. Using a variety of methods, including genetic engineering and conventional breeding, biotechnology modifies organisms to increase the quality of products, alter the traits of plants and animals, and customise microbes for certain agricultural uses. This all-encompassing strategy drives the market for agricultural biotechnology to grow.

Market Overview
Using scientific methods to improve plants, animals, and microbes, agricultural biotechnology propels exponential growth. Scientists can increase agricultural output by developing solutions that leverage lessons from DNA. Breeders are now able to precisely manipulate genes through biotechnology, resulting in targeted improvements in animals and crops. This method allows for advancements above what can be attained by using regular breeding techniques alone.
Ensuring a plentiful and secure food supply that is produced sustainably is an essential worldwide requirement. Despite the fact that agricultural biotechnology has advantages for society and the economy, its effects must be carefully considered. Biotechnology-derived improved crops have proven to be safe to use, providing benefits including less reliance on pesticides. Agricultural biotechnology is just one factor affecting farmers' and communities' well-being, especially in developing nations. Promoting frank and open public discourse is crucial to defining the societal role of biotechnology as it develops.
To foster domestic biotechnological progress, assure the safe adoption of foreign inventions, and instill public confidence in product safety, it is essential to establish strong national biosafety regulations. Both the public and private sectors face obstacles when trying to invest in biotechnology and realise its benefits in the absence of a supportive regulatory environment.

Key Insights

•    North America has captured the maximum market share and is predicted to grow.
•    By application, the crop production segment has generated market share.
•    By technology, the genetic engineering segment has accounted market share.
•    Tissue culture technology segment has captured highest market share.
•    By Type, the hybrid seeds segment has captured highest revenue share.
•    The bio-fertilizer type segment has captured revenue highest share.

Regional Stance
Markets for agricultural biotechnology are dispersed over Latin America, the Middle East and Africa, Europe, Asia Pacific (APAC), and North America. The global market for agricultural biotechnology was dominated by North America. Agricultural biotechnology in the US is a driving force behind increased food production worldwide by reducing susceptibilities to viruses, pests, and drought. Agricultural biotechnology is subjected to stringent risk evaluation by national organisations including the Environmental Protection Agency, the United States Department of Agriculture, and the Food and Drug Administration, as they are acknowledged as essential tools in combating food poverty and hunger.
Canada has strengthened its Novel Food Regulations and its product-based approach to agricultural biotechnology by publishing recommendations. In an indication of a dedication to promoting innovation in the agriculture industry, efforts are being made to amend laws pertaining to animal feed and environmental release.
Mexico, a country well known for its biodiversity, has a wide range of commercial biotechnology operations. A major player in the food, healthcare, agricultural, environmental applications, and other sectors, Mexico is home to several national and international companies that are advancing biotechnology. The nation is establishing itself as a developing centre for biotechnological innovation as a result of the exponential rise in biotechnology applications across a range of industries, including healthcare, agriculture, marine resources, and energy production.
Key markets for agricultural biotechnology in Europe include Germany, France, the UK, Italy, and the rest of the continent. Tight laws in the European Union (EU) require that goods developed from biotechnology have approval from EU authorities as well as Member States (MS) before to being used in food, feed, or marketed as seed for growth. A product's approval attests to its safety and guarantees that it won't endanger the environment or the health of people or animals.
Despite initiatives to encourage the growth of protein crops and attain feed self-sufficiency, the EU's livestock industry still depends heavily on imports of genetically modified (GE) feed. This dependence highlights the continued need for affordable, trustworthy, and safe feed imports to satisfy agricultural needs.
Proponents of agricultural biotechnology in the European Union (EU) comprise scientists and professionals from the agricultural business, such as farmers, seed companies, and feed supply chain representatives. These parties are essential in promoting the advantages and security of agricultural biotechnology in the area.

The Asia Pacific (APAC) agricultural biotechnology market is divided into several sub-sectors, including South Korea, Japan, China, India, and the remainder of APAC.
Since independence, India's agricultural environment has changed dramatically, most notably with the introduction of high-yielding plant types brought about via hybridisation and selective breeding. The goal of this change, dubbed the "Green Revolution," was to increase crop yields and strengthen tolerance to a range of environmental challenges..
China is unique in that it has made significant biotechnology investments to increase agricultural productivity. Many Chinese-developed biotechnological inventions have not yet received commercialisation permission, despite notable advancements including the production of genetically modified (GM) crops. These regional dynamics highlight how agricultural biotechnology is developing in the Asia-Pacific area, with each nation navigating particular opportunities and difficulties in using scientific developments in biotechnology to meet agricultural demands and improve food security.
In terms of agricultural biotechnology adoption and advancement—particularly with regard to the production of transgenic crops—Latin America (LATAM) has become a global leader. Transgenic crop production has increased significantly in the region since the mid-1990s; Latin America now accounts for 45% of the world's sown area devoted to these crops..
Ten of the nineteen Latin American nations have approved genetically modified (GM) crops; of these, Brazil, Argentina, Paraguay, and Bolivia have the largest GM agricultural areas worldwide. This widespread uptake highlights Latin America's crucial influence in determining the direction of agricultural biotechnology worldwide.

Report Highlights
By Application
Applications for agricultural biotechnology are divided into multiple areas in the global market, such as the creation of vaccines, nutritional supplements, biofuels, transgenic crops and animals, and flower culture. Notably, the segment with the biggest market share is transgenic crops and animals. Transgenesis is a critical technology in this field that enables the enrichment of animal products with nutrients, improving their quality and quantity while customising their nutritional profiles. With the use of this technique, it is possible to transfer or enhance nutritionally advantageous features, improving the overall nutritional profile of meals generated from animals.
Transgenic animals are prime examples of how genetic modification can be used to fine-tune an animal's features for desired traits. They are identified by having genomes that have been altered to include genes from other species or through targeted genome editing. Simultaneously, the development of transgenic plants is a significant breakthrough that allows for the enhancement of crop yields and the production of more appealing agricultural goods.
The challenge of feeding a growing world population while satisfying consumer demand for high-quality agricultural goods is met by agricultural biotechnology. This emphasises how important biotechnology is to achieving agricultural sustainability and food security in the face of growing obstacles.

By Organism
Plants, animals, and microbes are the division of the worldwide agricultural biotechnology market by organism type. These categories are further segmented based on methodologies, which include established genetic modification, conventional procedures, and innovative breeding approaches. The segment that generates the most money is plants.
Agricultural biotechnology is essential for protecting crops from harmful diseases, increasing crop resilience and increasing farmer profitability. A variety of advantages are provided by biotech crops, including improved crop quality and possibly higher yields. Adoption of these crops can also improve efficiency and safety for farmers by streamlining farming procedures..
Biotech crops help produce improved quality qualities, like raising rice's beta-carotene levels to prevent vitamin A deficiency and optimising canola, soybean, and maize oil compositions. These developments highlight agricultural biotechnology's revolutionary potential in tackling issues related to global food security and promoting sustainable agriculture practices.
The animal section of the worldwide agricultural biotechnology market is expected to develop at the fastest compound annual growth rate (CAGR) during the course of the study period, suggesting that it is well-positioned for significant growth. Developments in the investigation of gene expression and metabolic profiling in animal cells, along with the sequencing of animal genomes, have fuelled recent advances in animal biotechnology.
The area has seen a revolutionary shift with the introduction of genome editing tools like CRISPR-Cas systems, TALENS, and Zinc Finger Nucleases, which present unparalleled prospects for introducing genetic variants in animals. These advancements have the potential to significantly improve agricultural productivity, strengthen animal resistance to disease, and improve the health and welfare of animals. The animal branch of agricultural biotechnology is well-positioned to propel notable progress in livestock management and foster the agricultural sector's sustainable expansion by utilising these state-of-the-art technologies.

Market Dynamics
Driver
Enhancing Crop Value through Scientific Innovation
By using scientific methods to alter and enhance the characteristics of plants, animals, and microbes, biotechnology acts as a catalyst to increase the value of these living things. A crucial subgroup of biotechnology called agricultural biotechnology is concerned with improving agricultural methods and results. Genetic engineering technologies represent a revolutionary frontier in agricultural innovation, even if conventional techniques like selection and breeding have long been used to develop agriculturally significant species. For example, the historical effectiveness of classical agricultural biotechnology is demonstrated by the production of disease-resistant wheat varieties through cross-breeding. Furthermore, genetic engineering presents enormous promise for addressing health issues in developing nations, especially in the form of crops enriched with vital vitamins. This idea addresses urgent health issues like vitamin A deficiency, which can cause blindness in youngsters, and also promises to enhance nutritional intake in underprivileged communities. Therefore, the application of genetic engineering in agriculture addresses important global health challenges at the same time as driving the expansion of the agricultural biotechnology industry.

Restraints
Consumer and Environmental Concerns
Environmental concerns and consumer scepticism are major obstacles to the agricultural biotechnology market's expansion. Concerning the lack of knowledge regarding the dangers of transgenic crops, certain consumer and environmental organisations draw attention to possible long-term effects. These worries are further supported by calls for an end to genetic engineering research and development. People frequently experience "dread fear" as a result of receiving contradictory and confused information, which heightens their concern about the potential effects of genetic engineering on human health and the environment. This misguided worry has the potential to obstruct agricultural biotechnology advancement. It is imperative to systematically address health, environmental, and social problems in order to allay consumer fears and promote confidence in the use of biotechnology in agriculture.

Opportunities
Genomic Advancements for Enhanced Crop Production
Development of water purification and conservation technology has paved the way for agricultural independence within the country. Furthermore, advancements in genomic technologies such as molecular markers, mapping populations, doubled haploids, transcription activator-like effector nucleases (TALENS), Next generation sequencing (NGS), RNA-Seq, Clustered Regularly Interspaced Short Palindromic Repeat-Cas9, and Oligonucleotide-directed mutagenesis (ODM) hold great promise for increasing crop yields. These developments, when combined with the rapidly expanding availability of genome sequence data, have the potential to completely transform plant breeding methods, creating a strong case for the agricultural biotechnology business to thrive.

Recent Developments
•    In February 2022, Eurofins Agro Testing proudly announced the acquisition of Australian Precision Ag Laboratory (APAL).
•    In May 2022, Solvay launched a new growth platform focused on renewable materials and biotechnology.
•    In July 2023, Olmix Group acquired Brazilian biotech firm Yes Sinergy.
•    In January 2023, Bayer launched a new collaboration with Oerth Bio to further advance innovations in crop protection.

Key Players in the Agricultural Biotechnology Market
·    ADAMA Ltd
·    Bayer AG
·    ChemChina
·    Corteva
·    Evogene Ltd.
·    KWS SAAT SE & Co. KGaA
·    Limagrain
·    Marrone Bio Innovations
·    MITSUI & CO., LTD
·    Nufarm
·    Performance Plants Inc.
·    Valent BioSciences LLC

Market Segmentation
By Application
Vaccine Development
Transgenic Crops & Animals
Antibiotic Development
Nutritional Supplements
Flower Culturing
Biofuels

By Organism Type
Plants
Animals
Microbes

By Type
Hybrid Seeds
Transgenic Crops
Bio-pesticides
Bio-fertilizers

By Technology
Genetic Engineering
Tissue Culture
Embryo Rescue
Somatic Hybridization
Molecular Diagnostics
Vaccine
Others

By Geography
North America
U.S.
Canada
Europe
Germany
France
United Kingdom
Rest of Europe
Asia Pacific
China
Japan
India
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
GCC
North Africa
South Africa
o Rest of Middle East & Africa

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Agricultural Biotechnology Market

Report ID : 598

Category : Pharmaceuticals

No Of Pages : 140

Published on: July 2024

Status: Published

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