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Agricultural Biotechnology Market by Technology, Application, and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 135
  • SKU: IRTNTR46661
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The agricultural biotechnology market share is projected to surge by USD 27.00 billion from 2021 to 2026, at an accelerating momentum CAGR of 10.55%.

This agricultural biotechnology market research report extensively covers agricultural biotechnology market segmentation by application (transgenic seeds and crop protection biochemicals) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The agricultural biotechnology market vendors covered in this report include Bayer AG, BASF SE, Benson Hill Inc., Biological Products Industry Alliance, China National Chemical Corp. Ltd., Corteva Inc., DuPont de Nemours Inc., Eurofins Scientific SE, Evogene Ltd., Global Bio chem Technology Group Co. Ltd., Groupe Limagrain Holding, KWS SAAT SE and Co. KGaA, Marrone Bio Innovations Inc., Mitsui and Co. Ltd., Novozymes AS, Nufarm Ltd., Performance Plants Inc., Sumitomo Chemical Co. Ltd., The Dow Chemical Co., and Yield10 Bioscience Inc. among others. Furthermore, the post COVID-19 impact analysis on the market captured in this report will help players evaluate their business approaches.

What will the Agricultural Biotechnology Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Agricultural Biotechnology Market Size for the Forecast Period and Other Important Statistics

 

Agricultural Biotechnology Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for higher crop yield is notably driving the agricultural biotechnology market growth, although factors such as higher costs for the development of agricultural biotechnology products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the agricultural biotechnology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Agricultural Biotechnology Market Driver

  • One of the key factors driving the global agricultural biotechnology industry growth is the increasing demand for higher crop yields due to the increase in the global population.
  • According to the World Bank data on population, the global population rose from 7.59 billion in 2018 to 7.67 billion in 2019 and is expected to be 8.24 billion by 2022.
  • The rise in population will result in high demand for food, which is necessary to be supplied from constrained resources such as land and water.
  • In addition, the percentage of total agricultural land has been declining owing to rapid urbanization. For instance, according to the World Bank data on agricultural land (% of land area), it was 37.43% in 2016 compared to 37.56% in 2012.
  • Thus, the high demand for food and high crop yields can be increased by biotechnological inputs of GM seeds and crop protection biochemicals.
  • Hence, owing to the aforementioned factors, the adoption of non-conventional farming methods combined with agricultural biotechnology will be high in the forecast years.

Key Agricultural Biotechnology Market Trend

  • Increasing demand for food due to population growth is one of the key agricultural biotechnology market trends that is expected to impact the industry positively in the forecast period.
  • The rise in population drives the demand for food, and this, in turn, drives the demand for organic fertilizer. The global population is growing at a rate of 1.1% every year, with an addition of more than 80 million people annually.
  • APAC accounts for the highest population, contributing to more than 50% of the global population. The adoption of excellent cultivation techniques and agricultural practices in APAC will drive the regional market during the forecast period.
  • The rapid urbanization has further boosted the demand for organic fertilizers owing to the reduction of cultivable land, rise in food shortage, and ever-increasing demand for grains, vegetables, pulses, and other agricultural yields.
  • These factors will support the market growth in the coming years.

Key Agricultural Biotechnology Market Challenge

  • One of the key challenges to the global agricultural biotechnology industry growth is the higher costs for the development of agricultural biotechnology products.
  • As per the European Parliament, the time for the approval of a crop protection product was 11 years in 2018. This results in high costs for the manufacturers.
  • As per the ERS of the USDA, the spending on agricultural research has decreased in high-income countries. The drop between 2009 and 2013 was 6% for the high-income countries such as the US, Australia, and France, and this decline continues to date.
  • According to data on R&D provided by the White House, the approved spending by the US government for agriculture was USD 2.48 billion in 2018, which was USD 2.58 billion in 2017.
  • The increase in costs may be passed on to the farmers from the manufacturers, which may hamper the adoption of agricultural biotechnology products in the forecast years.

This agricultural biotechnology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global agricultural biotechnology market as a part of the global agricultural and farm machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the agricultural biotechnology market during the forecast period.

Who are the Major Agricultural Biotechnology Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bayer AG
  • BASF SE
  • Benson Hill Inc.
  • Biological Products Industry Alliance
  • China National Chemical Corp. Ltd.
  • Corteva Inc.
  • DuPont de Nemours Inc.
  • Eurofins Scientific SE
  • Evogene Ltd.
  • Global Bio chem Technology Group Co. Ltd.
  • Groupe Limagrain Holding
  • KWS SAAT SE and Co. KGaA
  • Marrone Bio Innovations Inc.
  • Mitsui and Co. Ltd.
  • Novozymes AS
  • Nufarm Ltd.
  • Performance Plants Inc.
  • Sumitomo Chemical Co. Ltd.
  • The Dow Chemical Co.
  • Yield10 Bioscience Inc.

 

This statistical study of the agricultural biotechnology market encompasses successful business strategies deployed by the key vendors. The agricultural biotechnology market is fragmented and the vendors are deploying growth strategies such as investment in R&D activities to compete in the market.

Product Insights and News

  • Bayer AG - The company offers agricultural biotechnology products such as microbial and RNAi technologies.
  • Bayer AG - The pharmaceuticals segment focuses on the development, production, and marketing of prescription products in the areas of oncology, ophthalmology, hematology, contrast agents, and diagnostic imaging equipment.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The agricultural biotechnology market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Agricultural Biotechnology Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the agricultural biotechnology market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Agricultural Biotechnology Market?

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42% of the market’s growth will originate from North America during the forecast period. The US is the key market for agricultural biotechnology in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.

Technological advances for better cultivation practices, increasing demand for agricultural equipment, and consumer preference for environmentally safe products will facilitate the agricultural biotechnology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic spread widely across North America, which had a slightly negative impact on the market in focus. However, in 2021, the demand for agricultural biotechnology increased owing to mass vaccination drives implemented in the region and due to the rise in demand for food products. These factors are, in turn, anticipated to drive the market during the forecast period.

What are the Revenue-generating Application Segments in the Agricultural Biotechnology Market?

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The agricultural biotechnology market share growth by the transgenic seeds segment will be significant during the forecast period. The growth is attributed to the high demand for GM seeds owing to its multiple characteristics, which include:

  • tolerance to herbicides
  • insect resistance
  • stacked traits. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the agricultural biotechnology market size and actionable market insights on post COVID-19 impact on each segment.

 

Agricultural Biotechnology Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.55%

Market growth 2022-2026

$ 27.00 billion

Market structure

Fragmented

YoY growth (%)

9.98

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 42%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bayer AG, BASF SE, Benson Hill Inc., Biological Products Industry Alliance, China National Chemical Corp. Ltd., Corteva Inc., DuPont de Nemours Inc., Eurofins Scientific SE, Evogene Ltd., Global Bio chem Technology Group Co. Ltd., Groupe Limagrain Holding, KWS SAAT SE and Co. KGaA, Marrone Bio Innovations Inc., Mitsui and Co. Ltd., Novozymes AS, Nufarm Ltd., Performance Plants Inc., Sumitomo Chemical Co. Ltd., The Dow Chemical Co., and Yield10 Bioscience Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Agricultural Biotechnology Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive agricultural biotechnology market growth during the next five years
  • Precise estimation of the agricultural biotechnology market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the agricultural biotechnology industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of agricultural biotechnology market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Transgenic seeds - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Transgenic seeds - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Transgenic seeds - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Transgenic seeds - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Transgenic seeds - Year-over-year growth 2021-2026 (%)
    • 5.4 Crop protection biochemicals - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Crop protection biochemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Crop protection biochemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Crop protection biochemicals - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Crop protection biochemicals - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 India - Market size and forecast 2021-2026
      • Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Bayer AG
              • Exhibit 89: Bayer AG - Overview
              • Exhibit 90: Bayer AG - Business segments
              • Exhibit 91: Bayer AG - Key offerings
              • Exhibit 92: Bayer AG - Segment focus
            • 10.4 BASF SE
              • Exhibit 93: BASF SE - Overview
              • Exhibit 94: BASF SE - Business segments
              • Exhibit 95: BASF SE - Key news
              • Exhibit 96: BASF SE - Key offerings
              • Exhibit 97: BASF SE - Segment focus
            • 10.5 China National Chemical Corp. Ltd.
              • Exhibit 98: China National Chemical Corp. Ltd. - Overview
              • Exhibit 99: China National Chemical Corp. Ltd. - Product / Service
              • Exhibit 100: China National Chemical Corp. Ltd. - Key offerings
            • 10.6 DuPont de Nemours Inc.
              • Exhibit 101: DuPont de Nemours Inc. - Overview
              • Exhibit 102: DuPont de Nemours Inc. - Business segments
              • Exhibit 103: DuPont de Nemours Inc. - Key offerings
              • Exhibit 104: DuPont de Nemours Inc. - Segment focus
            • 10.7 Eurofins Scientific SE
              • Exhibit 105: Eurofins Scientific SE - Overview
              • Exhibit 106: Eurofins Scientific SE - Business segments
              • Exhibit 107: Eurofins Scientific SE - Key news
              • Exhibit 108: Eurofins Scientific SE - Key offerings
              • Exhibit 109: Eurofins Scientific SE - Segment focus
            • 10.8 Evogene Ltd.
              • Exhibit 110: Evogene Ltd. - Overview
              • Exhibit 111: Evogene Ltd. - Business segments
              • Exhibit 112: Evogene Ltd. - Key offerings
              • Exhibit 113: Evogene Ltd. - Segment focus
            • 10.9 Groupe Limagrain Holding
              • Exhibit 114: Groupe Limagrain Holding - Overview
              • Exhibit 115: Groupe Limagrain Holding - Business segments
              • Exhibit 116: Groupe Limagrain Holding - Key offerings
              • Exhibit 117: Groupe Limagrain Holding - Segment focus
            • 10.10 KWS SAAT SE and Co. KGaA
              • Exhibit 118: KWS SAAT SE and Co. KGaA - Overview
              • Exhibit 119: KWS SAAT SE and Co. KGaA - Business segments
              • Exhibit 120: KWS SAAT SE and Co. KGaA - Key offerings
              • Exhibit 121: KWS SAAT SE and Co. KGaA - Segment focus
            • 10.11 Mitsui and Co. Ltd.
              • Exhibit 122: Mitsui and Co. Ltd. - Overview
              • Exhibit 123: Mitsui and Co. Ltd. - Business segments
              • Exhibit 124: Mitsui and Co. Ltd. - Key offerings
              • Exhibit 125: Mitsui and Co. Ltd. - Segment focus
            • 10.12 Sumitomo Chemical Co. Ltd.
              • Exhibit 126: Sumitomo Chemical Co. Ltd. - Overview
              • Exhibit 127: Sumitomo Chemical Co. Ltd. - Business segments
              • Exhibit 128: Sumitomo Chemical Co. Ltd. - Key offerings
              • Exhibit 129: Sumitomo Chemical Co. Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 130: Inclusions checklist
                • Exhibit 131: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 132: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 133: Research methodology
                • Exhibit 134: Validation techniques employed for market sizing
                • Exhibit 135: Information sources
              • 11.5 List of abbreviations
                • Exhibit 136: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The agricultural biotechnology market growth will increase by $27009.94 million during 2022-2026.
              The agricultural biotechnology market is expected to grow at a CAGR of 10.55% during 2022-2026.
              Technavio has segmented the agricultural biotechnology market by application (Transgenic seeds and Crop protection biochemicals) and geographic (North America, Europe, APAC, South America, Middle East and Africa, North America, Europe, APAC, South America, and MEA).
              Bayer AG, BASF SE, Benson Hill Inc., Biological Products Industry Alliance, China National Chemical Corp. Ltd., Corteva Inc., DuPont de Nemours Inc., Eurofins Scientific SE, Evogene Ltd., Global Bio chem Technology Group Co. Ltd., Groupe Limagrain Holding, KWS SAAT SE and Co. KGaA, Marrone Bio Innovations Inc., Mitsui and Co. Ltd., Novozymes AS, Nufarm Ltd., Performance Plants Inc., Sumitomo Chemical Co. Ltd., The Dow Chemical Co., Yield10 Bioscience Inc. are a few of the key vendors in the agricultural biotechnology market.
              North America will register the highest growth rate of 42.48% among the other regions. Therefore, the agricultural biotechnology market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the agricultural biotechnology market growth are:
              • Increasing demand for higher crop yield
              • Increasing demand for food due to population growth
              The agricultural biotechnology market vendors should focus on grabbing business opportunities from the transgenic seeds segment as it accounted for the largest market share in the base year.
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