Global Agricultural Biotechnology Market by Types (Tissue Culture, Molecular Diagnostics, Vaccines, Molecular Markers, Genetic Engineering, and Others), Applications (Flower Culturing, Vaccine Development, Biofuels, Antibiotic Development, Transgenic Crop

The global agricultural biotechnology market is expected to reach USD 72 billion, expanding at a CAGR of around 8% during the forecast period 2020 – 2026. The rise in demand for innovative breeding techniques, is expected to bolster the growth of this technology in the market. The surge in adoption of biotech tools, to alter traits of organisms such as plants, microbes, and animals, is anticipated to be a driving force for the growth of this technology in the market. Primarily agricultural biotechnology, is the process of evolution, in the field of cropping, and farming with the help of upcoming, and innovative technologies such as genetic engineering, genome sciences, molecular breeding of plants, and plant grafting. The apparatuses related to biotechnology are getting praiseworthy response throughout agricultural applications. This is expected to be a major boost to the biotechnology market. The extensive use of this technology such as plant breeding, and tissue culture is expected to propel its market.

Market Trends, Drivers, Restraints, and Opportunities:

  • Surge in breeding, and production of transgenic crops, is a major factor for the growth of the technology in the market.
  • Advancement in technology especially in the agricultural science, is anticipated to be a reason, behind the growth of the technology in the market.
  • Rise in adoption of biotech tools, to alter traits of organisms such as plants, microbes, and animals, is anticipated to be a driving force for the growth of this technology in the market.
  • Surge in demand for innovative breeding techniques, is expected to bolster the growth of this technology in the market.
  • The extensive use of the technology in the agricultural sector, is anticipated to bolster its market growth.
  • Lack of knowledge about the technology, is expected to be an obstacle in its growth in the market.
  • The strict regulations imposed by the government around the world is anticipated to be a hindrance in the growth of the technology in the market.

Scope of the Report:

The report on the global agricultural biotechnology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2015–2018Forecast Period2020–2026Regional ScopeNorth America, Latin America, Europe, Asia Pacific, and Middle East and AfricaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Agricultural Biotechnology Segment Insights:

On the basis of types, it is segregated into six segments. These are tissue culture, molecular diagnostics, vaccines, molecular markers, genetic engineering, and others. The genetic engineering segment, during the forecast period 2020-2026, is expected to be the largest contributor to the market share. The advancement in the field of genetic engineering is the reason behind its growth during the forecast period. Based on applications, the technology is fragmented into six segments. These are flower culturing, vaccine development, biofuels, antibiotic development, transgenic crops, and others. The transgenic crops segment, during the forecast period 2020-2026, is expected to be the largest contributor to the market share. The increase in population, coupled with demand in the agricultural sector lead to investments in the field of transgenic crops. Hence, it is expected to be the leader in this segment during the forecast period. In terms of the types of organisms, it is divided into four segments. These are microbes, animals, plants, and others. The animals’ segment, during the forecast period 2020-2026, is expected to be the largest contributor to the market share. The extensive tests on animals for the development of vaccines is the reason behind its growth in the market. On the basis of technologies, it is segregated into five segments. These are ribonucleic acid interference [RNAi], biochips, genome editing tools, synthetic biology, and deoxyribonucleic acid [DNA] sequencing. The genome editing tools segment, during the forecast period 2020-2026, is expected to be the largest contributor to the market share. The advancement in the field of genetic engineering, is the reason behind the growth of genome editing tools, during the forecast period. Based on regions, the market is divided into five segments. These are Europe, Middle East and Africa, North America, Latin America and Asia Pacific. North America, during the forecast period 2020-2026, is expected to be the largest contributor to the market growth. The advancement of technology, and awareness among the people, are the reason behind its growth, during the forecast period.

Competitive Landscape:

The major players in the global agricultural biotechnology market, are quite a few in number. Some of them are

The market leaders are looking for various strategies such as partnerships, acquisitions, mergers, and product development to continue their market dominance.

The global agricultural biotechnology market, has been segmented on the basis of

Types:

  • Tissue Culture
  • Molecular Diagnostics
  • Vaccines
  • Molecular Markers
  • Genetic Engineering
  • Others

Applications:

  • Flower Culturing
  • Vaccine Development
  • Biofuels
  • Antibiotic Development
  • Transgenic Crops
  • Others

Organism Types:

  • Microbes
  • Animals
  • Plants
  • Others

Technologies:

  • Ribonucleic Acid Interference [RNAi]
  • Biochips
  • Genome Editing Tools
  • Synthetic Biology
  • Deoxyribonucleic Acid [DNA] sequencing

Regions:

  • Europe
  • North America
  • Middle East and Africa
  • Latin America
  • Asia Pacific