Lewes, Delaware, Aug. 20, 2024 (GLOBE NEWSWIRE) — The Global Agricultural Biotechnology Market Size is projected to grow at a CAGR of 9.70% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 51.12 Billion in 2024 and is expected to reach USD 100.32 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Agricultural Biotechnology Market Size”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Arcadia Biosciences, Thermo Fisher Scientific, Bayer AG, Biocentury Transgene Co., Ltd, Vilmorin & Cie, Eurofins Scientific, LGC Biosearch Technologies. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Agricultural Biotechnology Market Overview
Rising Demand for Sustainable Agriculture: The Agricultural Biotechnology Market is experiencing substantial expansion as a result of the growing demand for environmentally-friendly farming methods. Due to the increasing global food demand, the use of biotech solutions such as genetically modified seeds is becoming more popular in the business. These solutions provide larger crop yields and have a lower negative impact on the environment.
Advancements in Genetic Engineering: Continuous progress in genetic engineering is driving innovation in the Agricultural Biotechnology Market. Advancements in CRISPR technology and molecular breeding techniques facilitate the creation of crops with improved characteristics, hence promoting market expansion by satisfying the changing demands of farmers and consumers.
Government Support and Incentives: Governments throughout the world are providing incentives and favorable regulations to encourage the adoption of agricultural biotechnology. This support encompasses financial resources for scientific investigation, efficient systems of regulations, and financial assistance for genetically modified crops, expediting the growth of the market and creating prospects for participants in the business.
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Ethical and Regulatory Challenges: Significant constraints in the Agricultural Biotechnology Market include ethical issues and severe regulatory regulations. The public’s concerns around genetically modified organisms (GMOs) and the intricate approval procedures might cause delays in the introduction of products, so restricting their ability to enter the market and achieve growth.
High R&D Costs: The Agricultural Biotechnology Market is distinguished by significant expenditures on research and development. Creating groundbreaking biotechnology solutions necessitates substantial investments in technology, highly skilled individuals, and extended timeframes, which present a financial obstacle for organizations and may impede market expansion.
Limited Awareness in Developing Regions: The lack of awareness and comprehension of agricultural biotechnology in emerging regions acts as a barrier to the expansion of the business. The limited acceptance of new technology by farmers, along with inadequate infrastructure and education, hinders the widespread adoption of biotech crops, therefore impeding the market’s complete potential.
Geographic Dominance:
Geographically, North America has a dominant position in the Agricultural Biotechnology Market due to its excellent research and development facilities, favorable laws, and extensive use of biotech crops. This leadership expedites market expansion by establishing worldwide trends, enticing investments, and fostering innovation. Nevertheless, the prevalence of dominance also leads to inequalities, since other areas encounter obstacles in adopting new technologies due to legal and infrastructure difficulties, which could potentially hinder the worldwide expansion of the market.
Agricultural Biotechnology Market Key Players Shaping the Future
Major players, including Arcadia Biosciences, Thermo Fisher Scientific, Bayer AG, Biocentury Transgene Co., Ltd, Vilmorin & Cie, Eurofins Scientific, LGC Biosearch Technologies. and more, play a pivotal role in shaping the future of the Agricultural Biotechnology Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Agricultural Biotechnology Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Agricultural Biotechnology Market into Organism Type, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Agricultural Biotechnology Market, please Contact Verified Market Research®.
- Agricultural Biotechnology Market, by Organism Type
- Agricultural Biotechnology Market, by Application
- Vaccine Development
- Transgenic Crops and Animals
- Nutritional Supplements
- Flower Culturing
- Biofuels
- Chemical Tolerance
- Disease Resistance
- Agricultural Biotechnology Market, by Geography
- North America
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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