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What are the key drivers behind the agricultural biotechnology market’s growth in recent years?
The increased food demand is expected to propel the growth of the agricultural biotechnology market going forward. Food demand refers to the quantity and variety of food products consumers desire and are willing to purchase within a given period. Increased food demand is due to population growth, urbanization, and shifting dietary preferences. Agricultural biotechnology boosts food demand by enhancing crop productivity, improving crop quality, and increasing resilience to environmental stresses. For instance, according to reports published by the U.S. Bureau of Labor Statistics, a U.S. government agency, average household spending on food increased by 12.7% from 2021 to 2022, which is fueled by a 20.1% increase in spending on meals away from home and an 8.4% increase in spending on food at home. Therefore, the increased food demand is driving the growth of the agricultural biotechnology market.
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How does the future projection of the agricultural biotechnology market size compare to its historical growth?
The agricultural biotechnology market size has grown strongly in recent years. It will grow from $44.82 billion in 2024 to $49.18 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increased population and food demand, crop resistance to pests and diseases, improved crop characteristics, advancements in genetic engineering techniques, environmental concerns and sustainable agriculture.
The agricultural biotechnology market size is expected to see rapid growth in the next few years. It will grow to $72.27 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to rising focus on precision agriculture, climate change adaptation, consumer demand for sustainable practices, global trade dynamics, emerging markets and developing economies. Major trends in the forecast period include collaboration and partnerships, technological innovations, biosecurity and pandemic preparedness, gene editing technologies dominance, digital agriculture integration.
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Which key players are shaping the future of 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 trends will propel the growth and evolution of the agricultural biotechnology market?
Major companies operating in the agricultural biotechnology market are concentrating on innovative biotechnologies, such as pipelines with integrated solutions, to accelerate agriculture’s transformation and overcome local and crop system climate challenges. This solution combines crop protection, seeds and traits, technologies, tools, and methodologies to optimize farming practices, increase productivity, and improve sustainability. For instance, in March 2023, BASF SE, a Germany-based chemical company, launched an innovation pipeline with integrated solutions to accelerate agriculture’s transformation. This solution provides farmers with much-needed solutions to address local and crop-specific pest pressures, climatic problems, changing regulatory requirements, and expanding consumer demands. Additionally, this can help farmers optimize their inputs, reduce waste, and improve yields, leading to lower emissions. It also enhances climate resilience, biodiversity preservation, and precision applications.
Which regions are expected to become dominant players in 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.
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What are the emerging key segments in the agricultural biotechnology market, and how are they evolving?
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
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How is the agricultural biotechnology market defined, and what are its core characteristics?
Agricultural biotechnology refers to using scientific tools and techniques to modify living organisms, including plants, to enhance agricultural processes and produce food, fiber, and fuel. It is used to improve agricultural productivity, sustainability, and resilience.
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