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How Will the Growth Rate of the Agricultural Biotechnology Market Shape Industry Trends by 2034?

In the past few years, the size of the agricultural biotechnology market has been expanding robustly. The market growth is projected to increase from $44.82 billion in 2024 to $49.18 billion in 2025, with a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this growth during the historic period include increased population and food demand, improved resistance of crops to pests and diseases, enhanced crop traits, advancements in genetic engineering techniques, along with environmental concerns and the push for sustainable agriculture.

The size of the agricultural biotechnology market is predicted to experience significant expansion in the upcoming years, with an estimated value of $72.27 billion in 2029 and a compound annual growth rate (CAGR) of 10.1%. The anticipated growth during this forecast period is ascribed to an increased emphasis on precision farming, adaptation to climate change, consumer desire for sustainable practices, global trade dynamics, as well as emerging and developing markets. The forecast period will also witness several key trends such as collaborations and partnerships, technological breakthroughs, biosecurity and measures for pandemic readiness, dominance of gene editing technologies, and the integration of digital agriculture.

What Are the Primary Drivers Supporting the Growth of the agricultural biotechnology Market?

The growth of the agricultural biotechnology market is predicted to be accelerated by the rise in food demand. This refers to the type and amount of food products that consumers want and are ready to buy within a specific timeframe. The rise in food demand can be attributed to population growth, urbanization, and changes in dietary tastes. Crop productivity, crop quality, and adaptability to environmental stress are all enhanced by agricultural biotechnology, thereby increasing food demand. For example, data from the U.S. Bureau of Labor Statistics, a U.S. government body, indicates that average spending on food by households grew by 12.7% from 2021 to 2022. This increase is due to a 20.1% upturn in spending on meals consumed outside the home and an 8.4% rise in spending on home food. As a result, the agricultural biotechnology market’s growth is being fueled by this increased food demand.

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Who Are the Key Market Players Influencing the Growth of the Agricultural Biotechnology Industry?

Major companies operating in the agricultural biotechnology market are:

• BASF SE_x000D_

• Dow AgroSciences Inc._x000D_

• Bayer AG_x000D_

• Syngenta AG_x000D_

• Monsanto Company_x000D_

What Key Market Trends Are Shaping the Future of the Agricultural Biotechnology Industry?

Key players in the agricultural biotechnology market, such as BASF SE, a chemical firm based in Germany, are focusing on introducing innovative biotechnologies. These include integrated solution pipelines aimed at speeding up the revolution of agriculture and addressing the climate challenges affecting local and crop systems. In March 2023, BASF SE launched a pipeline that provides producers with comprehensive solutions to local and crop-specific pest issues, climate changes, regulatory changes, and increasing customer needs. This innovation improves farming practices, boosts productivity and enhances sustainability. It also enables farmers to streamline their inputs, minimize waste, and enhance crop yields, thus reducing emissions. Additionally, this innovation contributes towards climate resilience, protecting biodiversity, and precision in implementation.

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What Are the Major Segments of the Agricultural Biotechnology Market and Their Role in Driving Growth?

The agricultural biotechnology market covered in this report is segmented –

1) By Organism Type: Plants, Animal, Microbes

2) By Technology: Genetic Engineering, Tissue Culture, Embryo Rescue, Somatic Hybridization, Molecular Diagnostics, Vaccine, Other Technologies

3) By Application: Vaccine Development, Transgenic Crop And Animals, Antibiotic Development, Nutritional Supplements, Flower Culturing, Biofuels

Subsegments:

1) By Plants: Genetically Modified Crops, Biofortified Crops, Crop Protection Products

2) By Animals: Genetically Modified Animals, Animal Vaccines, Animal Feed Additives

3) By Microbes: Microbial Biopesticides, Microbial Biofertilizers, Microbial Enzymes

Which Regions Are Emerging as Leaders in the Agricultural Biotechnology Market?

North America was the largest region in the agricultural biotechnology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agricultural biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Agricultural Biotechnology Market Defined Across Different Regions?

Agricultural biotechnology refers to using scientific tools and techniques to modify living organisms, including plants, to enhance agricultural processes and produce food, fiber, and fuel. It is used to improve agricultural productivity, sustainability, and resilience.

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