Global Agricultural Biotechnology Market Report to 2031: Need for Sustainable Agricultural Practices Drives Growth - ResearchAndMarkets.com

The "Agricultural Biotechnology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.

The global agricultural biotechnology market is projected to expand at a CAGR of 10.7% between 2023 and 2031.

Companies Mentioned

• BASF SE
• Bayer AG
• DowDuPont Inc.
• Monsanto Company
• Syngenta AG

Agricultural biotechnology refers to the use of scientific tools and techniques to modify plants, animals, and microorganisms to improve their yield, quality, and resistance to pests and diseases.

This technology has become increasingly important in recent years due to the need for sustainable agricultural practices and the need to address global food security challenges. Advances in biotechnology have made it possible to produce crops that are more resistant to pests and diseases, have higher yields, and are better suited to different climates and soil conditions.

Genetic modification is one of the key techniques used in agricultural biotechnology, and it involves the insertion or deletion of genes in a plant's DNA to achieve specific traits. Another important aspect of agricultural biotechnology is synthetic biology, which involves the design and construction of new biological systems using genetic engineering and other techniques.

This technology can be used to create new plant and animal varieties with improved traits, as well as to develop new tools for pest and disease control.

The global agricultural biotechnology market is projected to grow at a CAGR of 10.7% during the forecast period of 2023 to 2031, driven by the need for sustainable agriculture practices and the demand for innovative solutions to address global food security challenges. However, there are also concerns about the potential risks and ethical implications of genetic modification and other biotechnology techniques, which need to be carefully considered and regulated.

Growing demand for food security

One of the main drivers of the agricultural biotechnology market is the growing demand for food security, especially in developing countries. With a rapidly increasing global population, there is a need to produce more food to feed everyone. Biotechnology can help improve crop yields and quality, as well as increase resistance to pests and diseases.

For example, genetically modified crops have been developed to withstand drought, which can help farmers in arid regions grow more crops with less water. This can have a significant impact on food security in developing countries. According to a report by the Food and Agriculture Organization of the United Nations, global food production will need to increase by 70% by 2050 to meet the needs of a growing population. Biotechnology can play a crucial role in achieving this goal.

Need for sustainable agricultural practices

Another driver of the agricultural biotechnology market is the need for sustainable agricultural practices. Conventional farming practices often rely on chemical fertilizers and pesticides, which can have negative environmental impacts. Biotechnology can help reduce the use of these chemicals by improving crop resistance to pests and diseases.

This can lead to more sustainable farming practices that are better for the environment. According to a report by the National Academies of Sciences, Engineering, and Medicine, biotechnology can help reduce the environmental impact of agriculture by reducing the use of chemical inputs and improving nutrient use efficiency.

Technological advancements in biotechnology

Advances in biotechnology have led to the development of new tools and techniques that can be used to improve crop yields, quality, and resistance to pests and diseases. For example, the use of CRISPR-Cas9 technology has made it easier and more precise to edit the genes of plants and animals.

This has led to the development of new crop varieties with improved traits, such as increased resistance to pests and diseases. According to a report by the Organization for Economic Cooperation and Development, the development of new biotechnologies is expected to lead to significant increases in agricultural productivity and efficiency in the coming years.

Historical & Forecast Period

This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.

Market Segmentation

Organism Type

• Plants
• Conventional Techniques
• Established Genetic Modification
• New Breeding Techniques
• Animals
• Conventional Techniques
• Established Genetic Modification
• New Breeding Techniques
• Microbes
• Conventional Techniques
• Established Genetic Modification
• New Breeding Techniques

Application

• Vaccine Development
• Transgenic Crops & Animals
• Antibiotic Development
• Nutritional Supplements
• Flower Culturing
• Biofuels

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Agricultural Biotechnology market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2031.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Agricultural Biotechnology market?
• Which is the largest regional market for Agricultural Biotechnology market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Agricultural Biotechnology market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Agricultural Biotechnology market worldwide?

For more information about this report visit https://www.researchandmarkets.com/r/qompig

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