LONDON--(BUSINESS WIRE)--Technvaio forecast the global agricultural biotechnology market is expected to grow by USD 25.30 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 10%.
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The agricultural biotechnology market is driven by the increasing demand for higher crop yields. In addition, the introduction of strong regulatory standards is anticipated to boost the growth of the agricultural biotechnology market.
According to the World Bank, the global population is expected to be 8.24 billion by 2022. The increasing population will result in rising demand for food which can be supplied from land and water resources. Due to increased urbanization, the agricultural land area has reduced, which represents an opposite trend. The adoption of non-conventional farming methods combined with agricultural biotechnology will result in higher yields in both food crops and cash crops. The crop yields can be increased by the biotechnological inputs of GM seeds and crop protection biochemicals. These factors will drive the growth of the global agricultural biotechnology market during the forecast period.
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Major Five Agricultural Biotechnology Companies:
BASF SE
BASF SE operates its business through Agricultural Solutions, and Other. The company offers agricultural biotechnology services through its segment, BASF Plant Science. Under this segment, the company is focused on developing yield and quality traits, fungal resistant soybeans, and herbicide tolerance in crops such as corn and soybeans.
Bayer AG
Bayer AG operates its business through Pharmaceuticals, Crop science, and Consumer health. The company uses biotechnology to transfer beneficial genes directly into a plant, which allowed for greater efficiency and new opportunities for improving crops.
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core. The company uses biotechnology to develop new crop varieties with advanced properties.
Eurofins Scientific SE
Eurofins Scientific SE operates its business through Western Europe, North America, and the Rest of the World. The company offers biotechnology services to provide seed trait and crop agronomic assessment resources covering a wide geographic area.
Evogene Ltd.
Evogene Ltd. operates its business through Agriculture, Human Health, and Industrial applications. The company uses biotechnology to develop new crop varieties with advanced properties.
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Agricultural Biotechnology Market Application Outlook (Revenue, USD bn, 2020-2025)
- Transgenic seeds - size and forecast 2020-2025
- Crop protection biochemicals - size and forecast 2020-2025
Agricultural Biotechnology Market Geography Outlook (Revenue, USD bn, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- South America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
Agricultural Biotechnology Market Technology Outlook (Revenue, USD bn, 2020-2025)
- Genome editing - size and forecast 2020-2025
- DNA sequencing - size and forecast 2020-2025
- RNAi - size, and forecast 2020-2025
- Biochips and synthetic biology - size and forecast 2020-2025
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