Agricultural Biotechnology Market Research Report: By Technology (Genome Editing, DNA Sequencing, RNAi, Synthetic Biology, Biochip), Product (Transgenic Seeds, Crop Protection Products) - Global Industry Analysis and Growth Forecast to 2030

Market Overview

The global agricultural biotechnology market was valued at $39,565.6 million in 2020, which is expected to grow at a CAGR of 10.7% during the forecast period (2021–2030). The industry is expected to grow due to the rise in the demand for new breeding techniques, such as genomic sciences, plant grafting, genetic engineering, and plant molecular breeding. This is because of the growing use of biotechnology to create or modify traits of organisms-including plants, animals, and microbes-with respect to color, yield, or size.

The COVID-19 pandemic has affected every industry including agricultural biotechnology market. The pandemic has put a heavy burden on the food processing industry and producers, who are unable to work due to the lockdowns. Following the economic slowdown, biofuel prices collapsed in 2020 and so did the prices of their major feedstocks, such as maize and oilseeds. Despite the fact that the income losses during the lockdown and local supply chain disturbances have inevitably led to a vast food shortage in many industrialized economies, the demand for agricultural products didn’t reduce, owing to the sustained food consumption.

Genome Editing Category To Witness Fastest Growth due to Rising Popularity of Crops with Increased Insect Resistance

With genome editing, healthier crops can be produced that have an increased resistance to insects and lower risk of failure due to extreme weather conditions, such as floods and drought. Thus, the genome editing category is expected to witness the highest CAGR during the forecast period in the agricultural biotechnology market, on the basis of technology.

Due to Rising Demand for Genetically Modified (GM) Crops to Increase Efficiency of Farming Operations, Transgenic Seeds Category Led Market

The transgenic seeds bifurcation, on the basis of product, held the larger market share in 2020 in the agricultural biotechnology industry. This can be mainly ascribed to the increasing focus of market players on developing these seeds to improve the efficiency of farming operations. Additionally, these products help in the reduction in the effect of any external factor destroying the quality of the crop.

North America Is Largest Market for Agricultural Biotechnology Tools and End-Products

Globally, North America held the largest share in the agricultural biotechnology market in 2020. This leading position is majorly attributed to the increasing adoption of GM crops in the region. Moreover, the shortage of conventional fossil fuels has led to the development of biofuels, which, coupled with the regulatory approval for them by statutory bodies in the U.S., is expected to have a positive impact on the market growth. In addition, the several advantages of transgenic crops over normal crops, such as resistance to pests and toxic herbicides and additional nutritional values, are further expected to drive the region’s market during the forecast period.

Increasing Adoption of Biofuels Is Accelerating Growth of Market

Biofuel sources mainly include crops such as wheat, corn, soybean, and sugarcane, but organic waste material can also be utilized as a potential feedstock. The increasing demand for biofuels across the world can be attributed to the fact that they burn cleaner than conventional fossil fuels and release fewer pollutants and greenhouse gases, such as carbon dioxide, into the atmosphere. Thus, the developed countries of Europe and North America have been witnessing a rise in the adoption of biofuels, which are mainly produced using biotechnology and offer higher fuel efficiency. Thus, the increasing adoption of biofuels is a key trend in the agricultural biotechnology market.

Increasing Demand for Food Products Is Major Factor Responsible for Market Growth

The increasing population is leading to a rise in the demand for food products and the consequent dependence on agricultural biotechnology. According to the United Nations Department of Economic and Social Affairs, the global population, which stood at 6.9 billion in 2010, increased to 7.7 billion in 2019. Moreover, during 2015–2050, half of the world’s population growth is expected to be concentrated in ten countries, namely Nigeria, China, India, the Democratic Republic of the Congo, Pakistan, Ethiopia, the U.S., Tanzania, Indonesia, and Uganda. The growing population would require an ample food supply to sustain, which, in turn, would drive the adoption of advanced biotechnology tools in the agricultural space, thereby supporting the agricultural biotechnology market growth.

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Recent Strategic Developments of Agricultural Biotechnology Market Players

In recent years, major players have been involved in a variety of strategic developments to better their position in the global market:

• In February 2021, ADAMA Agricultural Solutions Ltd. launched a novel prothioconazole fungicide that offers improved cereal and oilseed rape disease (OSR) disease control.
• In August 2020, Syngenta AG announced the acquisition of Sensako (Pty) Ltd., a South African seed company specializing in cereals. Syngenta's entrance into the South African wheat, corn, and sunflower seeds markets will be helped by this acquisition, which will lay the foundation for its future expansion.

Key Players in Global Agricultural Biotechnology Industry Include:

Market Size Breakdown by Segment

The global agricultural biotechnology market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.

Based on Technology

• Genome Editing
• Deoxyribonucleic Acid (DNA) Sequencing
• Ribonucleic Acid Interference (RNAi)
• Synthetic Biology
• Biochip

Based on Product

• Transgenic Seeds
  • Soybean
  • Maize
  • Cotton
  • Fruits and vegetables
• Crop Protection Products
  • Biopesticides
  • Biostimulants

Geographical Analysis

• North America
  • U.S.
  • Canada
• Asia-Pacific (APAC)
  • India
  • China
• Latin America (LATAM)
  • Brazil
  • Argentina