Global Agricultural Biotechnology Market Insights Forecasts to 2033

• The Global Agricultural Biotechnology Market Size was Valued at USD 121.24 Billion in 2023
• The Market Size is Growing at a CAGR of 8.27% from 2023 to 2033
• The Worldwide Agricultural Biotechnology Market Size is Expected to Reach USD 268.32 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Agricultural Biotechnology Market Size is Anticipated to Exceed USD 268.32 Billion by 2033, Growing at a CAGR of 8.27% from 2023 to 2033.

Market Overview

A specialized branch of biotechnology called agricultural biotechnology uses scientific methods to apply scientific principles to improve agricultural practices. Enhancing crop yields, improving pest resistance, and lowering reliance on chemical fertilizers and pesticides are all achieved through the manipulation of living things, including plants, animals, and microbes. Aiming to address some of the most urgent problems, including food security and sustainable agriculture, agricultural biotechnology uses technologies like genetic engineering, tissue culture, and molecular diagnostics to generate more robust, nutrient-dense, and abundant crops. Farmer productivity increases with reduced inputs due to modern biotechnology. The global need for more agricultural yields and sustainable farming methods is the main factor influencing the global market. Accordingly, new advances in sequencing and gene editing technology have made it possible to create crops with specialized qualities like drought resistance and increased nutritional value. Another strong element driving the market is farmers' growing acceptance of biotech crops due to proven yield increases and decreased pesticide use. Furthermore, scientists are developing crops that can adapt to shifting climatic circumstances owing to growing awareness of plant genetics, which is promising for the market.

Report Coverage

This research report categorizes the market for the global agricultural biotechnology market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global agricultural biotechnology market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global agricultural biotechnology market.

Driving Factors

By using scientific methods to alter and enhance the characteristics of plants, animals, and microbes, biotechnology acts as a catalyst to increase the value of these living things. A crucial subset of biotechnology called agricultural biotechnology is concerned with improving agricultural methods and results. Genetic engineering technologies represent a revolutionary frontier in agricultural innovation, even if conventional techniques like selection and breeding have long been used to develop agriculturally significant species. Additionally, biotechnology reduces the toxicity of certain foods. The use of plants as bioreactors to generate a range of bioproducts on a big scale and at a low cost is made possible by advancements in plant transformation and transgene expression. Numerous plant-derived healthcare proof-of-concept products have been developed and launched into the market. Despite asynchronous global regulatory frameworks that include both traditional and biotech new plant products under the same regulatory framework, to moratoriums and prohibitions on genetically modified (GM) species, this exponential expansion is occurring. This review focuses on how gene-edited crops might fit into the current framework by consolidating the worldwide legislative landscape on GM crops as it currently exists. It builds on previous efforts in this regard.

Restraining Factors

Currently, agricultural biotechnology is being implemented. Predicting its potential effects on the environment and public health is therefore difficult. Since the effects of genetically modified commodities on human health remain unknown to scientists. In genetic engineering, genes linked to antibiotic resistance serve as markers. If these genes were inserted into the genome of a plant, they would make antibiotics less effective, which would be harmful. It is anticipated that these agricultural biotechnology risks will hamper market expansion.

Market Segmentation

The global agricultural biotechnology market share is segmented into organism type, technology, and application.

• The plants segment dominates the market with the largest market share through the forecast period.

Based on the organism type, the global agricultural biotechnology market is segmented into plants, animals, and microbes. Among these, the plants segment dominates the market with the largest market share through the forecast period. Agricultural biotechnology is essential for protecting crops from harmful diseases, increasing crop resilience, and increasing farmer profitability. A variety of advantages are provided by biotech crops, including improved crop quality and possibly higher yields. Adoption of these crops can also improve efficiency and safety for farmers by streamlining farming procedures.
Biotech crops help produce improved quality qualities, like raising rice's beta-carotene levels to prevent vitamin A deficiency and optimizing canola, soybean, and maize oil compositions. These developments highlight agricultural biotechnology's revolutionary potential in tackling issues related to global food security and promoting sustainable agriculture practices.

• The genetic engineering segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the technology, the global agricultural biotechnology market is segmented into genetic engineering, molecular breeding, molecular diagnostics, and tissue culture. Among these, the genetic engineering segment is anticipated to grow at the fastest CAGR growth through the forecast period. Due to its crucial role in transforming agricultural sustainability, insect resistance, and crop enhancement. This dominance, which is driving agricultural innovation and global food security measures, highlights the tremendous progress gained in utilizing genetic manipulation techniques to improve crop features, raise yields, and minimize environmental constraints.

• The transgenic crops & animals segment accounted for the largest revenue share through the forecast period.

Based on the application, the global agricultural biotechnology market is segmented into vaccine development, transgenic crops & animals, antibiotic development, nutritional supplements, and biofuels. Among these, the transgenic crops & animals segment accounted for the largest revenue share through the forecast period. Transgenesis is a critical technology in this field that enables the enrichment of animal products with nutrients, improving their quality and quantity while customizing their nutritional profiles. With the use of this technique, it is possible to transfer or enhance nutritionally advantageous features, improving the overall nutritional profile of meals generated from animals. Transgenic animals are prime examples of how genetic modification can be used to refine an animal's features for desired traits. They are identified by having genomes that have been altered to include genes from other species or through targeted genome editing. Simultaneously, the development of transgenic plants is a significant breakthrough that allows for the enhancement of crop yields and the production of more appealing agricultural products.

Regional Segment Analysis of the Global Agricultural Biotechnology Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global agricultural biotechnology market over the predicted timeframe.

North America is anticipated to hold the largest share of the global agricultural biotechnology market over the predicted timeframe. The agricultural biotechnology market in North America is expanding rapidly as a result of several connected variables. Research and development are supported by a strong institutional framework and a substantial private sector investment. Demand in the industry is also driven by consumer preferences for premium, sustainably produced food items. Furthermore, the area has well-established regulatory frameworks that provide a clear route for product approval even in the face of stringent requirements.

Asia Pacific is expected to grow at the fastest CAGR growth of the global agricultural biotechnology market during the forecast period. Farmers in this region are becoming more and more interested in using modern farming methods. Additionally, increased population need for food and rising consumer disposable incomes will encourage future industry expansion.  Moreover, a number of the top agricultural biotechnology firms in the world are based in APAC, which enhances the region's innovative and competitive market environment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global agricultural biotechnology market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ADAMA Ltd
• Bayer AG
• ChemChina
• Corteva
• Evogene Ltd.
• KWS SAAT SE & Co.
• KGaA
• Limagrain
• Marrone Bio Innovations
• MITSUI & CO.
• Nufarm
• Performance Plants Inc.
• Valent BioSciences LLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2022, The acquisition of the Australian Precision Ag Laboratory (APAL) by Eurofins Agro Testing was announced with pride.

• In May 2022, Solvay launched a new growth platform focused on renewable materials and biotechnology The fourth growth platform will increase the share of renewable carbon in Solvay’s product offering and open up new business opportunities for multiple markets.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global agricultural biotechnology market based on the below-mentioned segments: 

Global Agricultural Biotechnology Market, By Organism Type

• Plants
• Animals
• Microbes

Global Agricultural Biotechnology Market, By Technology

• Genetic Engineering
• Molecular Breeding
• Molecular Diagnostics
• Tissue Culture

Global Agricultural Biotechnology Market, By Application

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

Global Agricultural Biotechnology Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa