Agricultural Biotechnology Market Analysis, Size, Business Growth, Trends

Posted by Vinit on January 19th, 2021

The global market would get solid backing from various agrarian countries from the developing parts of the world. However, poor financial states can be a big distraction for such markets.

The global market for the agricultural biotechnology market is showing positive signs of making progress from a valuation of USD 27778.64 million in 2018 with a CAGR of 10.10% during the forecast period of 2019-2024.

Segmentation:

The global report on the agricultural biotechnology market has been studied by MRFR analysts to understand how the market is creating a strong base for itself. This study includes segments like crop type, application, and technique.

By crop type, the report on the agricultural biotechnology market can be segmented into maize, cotton, soybean, and others. The soybean sector is getting strong traction from its inclusion in US-China deals. Its nutritional value is substantially high, which is impacting the global market intake.

By application, the report on the agricultural biotechnology market includes stacked traits, insect tolerance, herbicide tolerance, and others. The insect tolerance segment is getting traction due to the rise in demand for better crop yields.

By basis of technique, the report on the agricultural biotechnology market has been segmented into molecular diagnostics, molecular breeding, genetic engineering, and tissue culture. The genetic engineering segment would see a hike in its intake as several market players are increasing their investment to spur growth.

Competitive Landscape:

The global market for agricultural biotechnology is benefiting from the rising demand for a higher level of crop yield and reduction in labor. Various companies are working to establish these factors. These companies are Thermo Fisher Scientific (US), Arcadia Biosciences (US)., Biocentury Transgene Co., Ltd (China), Vilmorin & Cie (France), Dr. Chip Biotech Inc. (Taiwan), Evogene Ltd (Israel), Bayer AG (Germany), LGC Biosearch Technologies (US), Corteva Agriscience (US), Eurofins Scientific (Luxembourg), and Yield10 Bioscience, Inc. (US).