The global agricultural biotechnology market was valued at USD 33.8 billion in 2018. Agricultural biotechnology is the collection of novel techniques to enhance crop productivity and efficiency. It provides framers an innovative technology that can make crop reasonable and productive. It is used to safeguard crops from destructive diseases, and to alter the genetic sequence of crops, which surges crop production. The global agricultural biotechnology market is growing at a significant rate, due to escalating per capita income, and mounting demand for biofuel.

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Majority of genetically modified crops grown in developing economies, escalating agricultural needs, and mounting research activities in genetically modified crops in developing countries are also facilitating the growth of the agricultural biotechnology market.

Stringent rules and guidelines associated to the registration of genetically modified products, terminator seed technology, issues associated to patent rights of biotech crops, and conflict towards genetically modified crops in Europe are the major challenges for the growth of agricultural biotechnology market.

Globally, the manufacturing companies trying to enter the agricultural biotechnology market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness the fastest growth in the market, due to mounting acceptance of modern farming technique. In addition, escalating disposable income, greater food demand and expanding population size are also creating a positive impact on the agricultural biotechnology market growth in the region.

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Key players in the agricultural biotechnology market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In June 2018, Bayer AG acquired Monsanto Company, to help and improve harvest even better.

Syngenta AG, Bayer AG, Evogene Ltd., DowDuPont Inc., KWS SAAT SE, BASF SE, Performance Plants Inc., Global Bio-chem Technology Group Company Limited, Vilmorin & Cie, Certis USA LLC, and ADAMA Agricultural Solutions Ltd are the key players offering agricultural biotechnology.

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