Global Agricultural Biotechnology Market – Current Industry Trends and Growth Prospects 2016-2021
The global agricultural biotechnology market is anticipated to witness an outstanding growth on account of increasing cultivation area of genetically modified crops coupled with growing demand for biofuels across the globe. In the report, “Global Agricultural Biotechnology Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com the market overview, market size; growth trends and future prospects are elaborately covered. The report incorporates the agricultural biotechnology market analysis on the basis of application and geography. The report offers details about the drivers, restraints and growing opportunity in the industry.
The supportive agricultural regulations, particularly in Brazil & U.S. region will further aid in the growth of this market over the next six years. Robust technological advancements in the field of biotechnology such as genome editing, synthetic biology, and DNA sequencing are driving new applications & products, which in turn will fuel market demand in the near future. The growing population worldwide along with the growing demand for food has led to the need of GMO for high crop yield, thus boosting the growth of the agricultural biotechnology market. Moreover the rising demand for biofuels due to declining reserves of traditional fuels will further lead the market uphill. Furthermore, rising demand for advanced seeds for higher crop production & to produce stress-resistant plants along with the increasing demand for eco-friendly crop protection products will augment market demand in the study period. However, strong opposition to genetically modified (GMO) crops in Europe and presence of various patent protections in the industry are major restraint, which may have a negative impact on the growth of the market in the forthcoming years. A large number of analysis & research undertakings in Africa and Asia Pacific will open new growth avenues for industry players in the market.
The global market has been segmented based on application into transgenic crops, synthetic biology-enabled products, and tools. The transgenic crops is a major application segment, which includes corn, soybean,
cotton and others crops. This segment is expected to witness a double-digit growth over the forecast period and growth is attributed to the growing demand for higher crop production along with the declining amounts of arable land globally. In addition, transgenic crops also offer pest-resistance, high shelf-life, and high nutritional value crops.
North America has accounted for major market share and is projected to continue its dominance due to the presence of favorable climates, rapid technological innovations in the area of biotechnology and supportive regulatory frameworks in the region. Asia Pacific is a fastest growing market and is expected to grow at the highest CAGR during the forecast period on account of burgeoning population along with their growing food requirement, expanding textile industry and rapid industrialization in the region.
The key industry players include ADAMA Agricultural Solutions Ltd., Bayer CropScience AG, Certis USA, Dow AgroSciences LLC, Du Pont Pioneer Hi-Bred, Evogene Ltd, Global Bio-chem Technology, KWS SAAT AG, Monsanto, Mycogen Seeds, Performance Plants Inc., Rubicon, Syngenta, and Vilmorin. The global is fragmented in nature, due to the presence of a huge number of unorganized players in the market. Major players are focusing on alliances, various breeding and seed development programs to enhance the market penetration.
In Oct 2015, AFBFA (American Farm Bureau Foundation for Agriculture) along with the IFICF (International Food Information Council Foundation) has jointly launched the “Bringing Biotechnology to Life,” a free educational resource to easily facilitate the learning about agricultural biotechnology and its function in food production.
In Sep 2016, Bayer, a leading agrochemical company has acquired Monsanto with USD 68 billion in order to launch gene editing, globally.
In Sep 2016, SproutX, an Australian agriculture technology accelerator has announced the opening for applications to its pre-accelerator program.
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