Report Overview

In 2022, the global agricultural biotechnology market was valued at US$ 111 billion and is expected to reach around US$ 232 Billion by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.86%.

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Key Takeaways

The agricultural biotechnology market is poised to achieve USD 232 billion in revenue by 2032, growing at a CAGR of 7.86% from 2023.

Genetic modification enhances crops with improved nutrient content, processing capabilities, pest and disease resistance, higher yields, nitrogen fixation, and resilience to adverse weather.

In 2022, the global agricultural biotechnology market generated around USD 111 billion in revenue.

Agritech employs scientific tools to boost plant yields, particularly through genetically modified or transgenic crops with altered traits.

Innovative breeding techniques are increasingly sought after in the industry.

Plant organisms drive the majority of market revenue.

Transgenic crops and animals are the primary revenue-generating applications.

North America leads with a 35.3% market share, while Asia Pacific is anticipated to follow as the second-largest market.

Biotechnology tools are extensively utilized in agricultural practices.

Market growth drivers include the adoption of genetically modified crops, demand for sustainable agricultural solutions, and advancements in marker-assisted breeding.

The increasing global population and subsequent food demand underscore the need for organic fertilizers.
Challenges such as the high cost of biotechnology products and concerns about their environmental and health impacts temper market growth.

Key players like ADAMA Agricultural Solutions Ltd., BASF SE, and Bayer AG, among others, drive innovation in the agricultural biotechnology sector.
Lavie Bio Ltd. focuses on enhancing food quality and sustainability through microbiological-based products.

Key Market Segments

By Organism Type

• Plants
• Animals
• Microbes

By Application

• Vaccine Development
• Transgenic Crops & Animals
• Antibiotic Development
• Nutritional Supplements
• Flower Culturing
• Biofuels
• Other Applications

Key Regions

• North America (The US, Canada, Mexico)
• Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
• Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
• APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
• Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
• Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)

Key Players  

• ADAMA Agricultural Solutions Ltd.
• BASF SE
• Bayer AG
• Benson Hill Inc.
• Certis USA LLC
• Corteva, Inc.
• DuPont de Nemours, Inc.
• Eurofins Scientific SE
• Evogene Ltd.
• Isagro SPA
• KWS SAAT SE & Co. KGaA
• Marrone Bio Innovations, Inc.
• Novozymes A/S
• Performance Plants Inc.
• Syngenta AG
• Vilmorin & Cie S.A
• Yield10 Bioscience, Inc.
• Other Key Players

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Drivers:

Increasing Demand for Food Security: The increase in human population pressures the world to seek help from biotechnology in order to increase on yield and quality of crops.
Advancements in Genetic Engineering: New technologies have continued to introduce the process of genetic modification making improvements such as disease control, nutritional value, and yield.
Growing Preference for Sustainable Agriculture: This bent is sustainable in that it provides solutions like organic fertilizers, and lesser use of pesticides, hence complementing sustainability plans.

Trends:

Expansion of Genetically Modified Crops: The use of GMOs is rising worldwide due to factors such as higher yields and diminishing harm to the ecosystems.
Rise of Precision Farming Techniques: The incorporation of modern biotechnology tools helps in making proper decisions in the field of precision agriculture to improve the efficiency of farms.
Focus on Nutritional Improvement: Technological developments aim to increase nutritional value in crops in an attempt to accommodate the changing and dynamic nutritional requirements and choices.

Opportunities:

Emerging Markets in Asia-Pacific: Agricultural modernization is rapidly on the increase in many of the countries in the Asia-Pacific region and this is offering incredible growth prospects for biotechnology companies.
Biological Pest Control Solutions: There is an increased demand for environmentally friendly products such as biological control agents instead of chemical pesticides therefore coming up with more opportunities for the bio-tech firms.
Expansion of Biotech Applications: Wider use of biotechnology in the sectors of afforestation and gardening, fish farming, and animal farming boosts market size and sales.

Restraints:

Stringent Regulatory Frameworks: Strict regulatory frameworks governing the deployment of GMOs and biotech products created entry restrictions and market contingencies.
Public Perception and Consumer Acceptance: There are concerns over the safety and effects of GMOs on the environment thus affecting consumers’ decisions and acceptance of GMOs in the market.
High Research and Development Costs: The constraints that come with the need to spend a considerable amount on biotech R&D and product development affect the scalability of the companies in the industry for firms that are small.

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