Agriculture biotechnology eyes growth to $214.6 B in 2031
Margust Dela Cerna | August 19, 2024
A new report by Allied Market Research projects that the agriculture biotechnology market, valued at $93.10 billion in 2021, will grow to $214.6 billion by 2031.
In order to achieve this, Agriculture biotechnology will use scientific methods to enhance plants, animals, and microbes, with potential to meet rising global food demands while minimizing environmental impact. Through techniques like recombinant DNA, scientists can increase nutritional content in crops, offering a possible solution to malnutrition as food needs rise.
The use of antibiotic-resistant genes in breeding, however, poses concerns about creating bacteria that resist current treatments. According to the report, the FDA is not yet supportive of this method, which could hinder market growth.
Biological plant protectants, such as insect pheromones, have emerged as environmentally friendly alternatives to traditional agrochemicals, helping boost market growth. The market is segmented by type (e.g., hybrid seeds, bio-pesticides), technology (e.g., genetic engineering, vaccines), application (e.g., crop production), and region, with North America leading in 2021.
Key players include KWS SAAT SE, Bayer AG, Corteva, and Limagrain. The report also explores market dynamics, regional trends, investment opportunities, and the impact of COVID-19, which disrupted supply chains but didn’t decrease food demand due to increased consumption.
Allied Market Research provides insights for strategic decisions, with CEO Pawan Kumar sharing their committment to delivering high-quality market data through robust research and industry partnerships.
In order to achieve this, Agriculture biotechnology will use scientific methods to enhance plants, animals, and microbes, with potential to meet rising global food demands while minimizing environmental impact. Through techniques like recombinant DNA, scientists can increase nutritional content in crops, offering a possible solution to malnutrition as food needs rise.
The use of antibiotic-resistant genes in breeding, however, poses concerns about creating bacteria that resist current treatments. According to the report, the FDA is not yet supportive of this method, which could hinder market growth.
Biological plant protectants, such as insect pheromones, have emerged as environmentally friendly alternatives to traditional agrochemicals, helping boost market growth. The market is segmented by type (e.g., hybrid seeds, bio-pesticides), technology (e.g., genetic engineering, vaccines), application (e.g., crop production), and region, with North America leading in 2021.
Key players include KWS SAAT SE, Bayer AG, Corteva, and Limagrain. The report also explores market dynamics, regional trends, investment opportunities, and the impact of COVID-19, which disrupted supply chains but didn’t decrease food demand due to increased consumption.
Allied Market Research provides insights for strategic decisions, with CEO Pawan Kumar sharing their committment to delivering high-quality market data through robust research and industry partnerships.
