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Nine Crazy Trends in The Agricultural Biotechnology Market Industry

Biotechnology tools are gaining significant demand across agricultural applications.

By Startup IdeasPublished 3 years ago 3 min read
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Agricultural Biotechnology Market- Industry Insights

The global agricultural biotechnology market size is expected to reach USD 161.45 billion by 2025 growing at a CAGR of 7.07%, according to a new report by Grand View Research, Inc. Advent of unique genetic resources and genome modification tools is anticipated to enhance understanding of plant biology over the coming years. Additionally, a rise in demand for biofuel owing to depletion of conventional fuel is further projected to propel the market growth.

Penetration of genetic engineering tools has been recognized as a solution to overcome the pitfalls of conventional vaccine production. Genetically engineered vaccines have the potential of transforming the vaccine development scenario in the future. These products are continuously assessed by vaccine developing companies to understand the significance of recombinant vaccines in clinical as well as economical aspects which has made significant contributions to the revenue generated by vaccine development application segment in 2018.

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Development of transgenic livestock is expected to immensely impact the improvement of nutrition, human health, animal welfare, reducing diseased livestock, and enhancing environmental protection. Moreover, genetic modification carried out in stem cells, livestock, and others are attributed to result in high-quality food and more yield from livestock. Some of the frequently adopted techniques for the development of transgenic animals include recombinant retroviruses, pronuclear Injection, sperm-mediated DNA transfer, embryonic stem cells, germ cell transplantation, and nuclear transfer “Cloning”.

Further key findings from the report suggest:

• Transgenic crops & animals segment accounted for the highest revenue generated in 2018 and is anticipated to maintain this trend throughout the forecast period

• Vaccine development segment is set to grow at the fastest pace from 2019-2025

• Agricultural biotechnology for plants has dominated with respect to market share and is projected to maintain its dominance throughout the forecast period

• Agricultural biotechnology for animals is the fastest growing organism type segment from 2019-2025

• North America is the leading regional market due to the high penetration of novel biotechnology tools

• In addition, a number of public-private partnerships has grown significantly in this region. These initiatives allow the development and maintenance of public infrastructure, agriculture, and healthcare programs in North America

• Asia Pacific is projected to be the fastest-growing regional market owing to supportive climatic conditions in different countries, which allows multiple growing seasons in a single year

• A robust network of local agricultural biotechnology manufacturers has significantly contributed to the revenue generated by Asia Pacific

• Some of the key participants in agricultural biotechnology market are KWS SAAT SE & Co. KGaA, Corteva, MITSUI & CO., LTD, Evogene Ltd., Valent BioSciences LLC, and Bayer AG among others

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A rise in the adoption of Genetically Modified (GM) crops globally is expected to drive the market throughout the forecast period. This is because genetic modification allows the production of feed and food crops with enhanced characteristics such as high nutritional value, high yield, enhanced food-processing qualities, and resistance against diseases and insects. In many countries, GM crops have been adopted rapidly, and the market for insect-resistant, herbicide-tolerant GM seeds is among the growing sectors of the agricultural industry.

According to the estimates of International Service for the Acquisition of Agri-biotech Applications (ISAAA), 2.15 billion hectares of biotechnology crops have been commercially grown from 1996 to 2016. This includes 0.34 billion hectares of biotechnology cotton, 1.04 billion hectares of biotechnology soybean, 0.13 billion hectares of biotechnology canola, and 0.64 billion hectares of biotechnology maize. These products contribute to a major portion of fiber, feed, fuel, and food consumption globally.

The agricultural biotechnology market is classified into six segments based on application, namely vaccine development, transgenic crops & animals, antibiotic development, nutritional supplements, flower culturing, and biofuels. Transgenic crops & animals segment generated the highest revenue in 2018 while vaccine development is estimated to witness the fastest growth than other applications.

Agricultural biotechnology has helped in livestock as well as crop enhancement via incorporating advanced tools. Agriculture-integrated biotechnology finds vast applications across tissue culture, micropropagation, embryo transfer, cloning, and artificial insemination among others. Biotechnology tools have been applied successfully in micropropagation of disease-free plants, improving aluminum tolerance, crop fortification, and genetic modification in crops.

Agricultural biotechnology involves the use of a broad range of modern techniques to develop innovative products with enhanced quality traits. Conventional breeding techniques have been adopted largely to carry out alterations in plant and animal genomes. In addition, advancements in the field of genetic engineering have enabled controlling of genetic changes induced into the organism.

Advanced biotechnology tools have enabled professionals to incorporate new genes from one species to another unrelated species targeting towards the optimization of agricultural production or manufacturing valuable pharmaceutical compounds. The most common subjects of genetic engineering include farm animals, crops, and soil bacteria.

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