The global agricultural biotechnology market is rapidly growing, due to the increasing demand for transgenic crops across the globe. It was valued at $ xx billion in the year 2017. It is expected to reach an estimate of $ xx billion by the year 2025, growing at a significant compound annual growth rate of xx%, throughout the forecast period.

The use of biotechnological sciences is prevalent in many sectors. The agricultural biotechnology market can be categorized into two main segments: transgenic seeds and crop protection techniques. The application of biotechnology in the agricultural field helps in developing plants, animals and other living beings, by modifying them genetically, which can increase the productivity of crops (transgenic or genetically modified).
It can also protect crops from destructive diseases. It is an innovative technology which has proven to be cost effective for the production of crops. With the rising population across the world, clearly there’s a requirement for more food production, which is mostly dependent on farming. There is a gap between the demand of food grains and their supply. This method of crop production results in more varieties of crops, with a higher yield, which is high in nutritional value and resistant to pests, giving a longer shelf life to the products. Some of the major crops being produced by genetic modification are soybean, corn, and potato. Apart from food consumption, this technology is also used to meet the demand for biofuels. Seed manufacturing companies like Monsanto (US), DuPont (US), Sakata (Japan) etc. are major producers of corn, which is used as biofuel and in the production of bio-plastic. The rising per capita income and decreasing area of cultivatable land are other factors promoting the growth of the global agricultural biotechnology industry.

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North America dominated the production of genetically modified crops in 2015. There is more awareness and acceptance of this kind of crop production in American countries, along with supportive governmental laws and regulations. Major production companies are based in this region, which are heavily investing in the research and development of agricultural biotechnology. North America is expected to maintain its dominance throughout the forecast period and drive this market towards further growth. The Asia Pacific region is also witnessing a tremendous growth in the agricultural biotechnology market due to its rising population, and the demand for food and biotechnology based products. This region is rapidly adapting modern techniques for farming. Genetically modified golden, pest resistant biotech wheat, and insect resistant biotech mustard are some of the crops that are being mass produced for consumption in this region. However, the European market is hesitant to the production of genetically modified crops. The European Union has developed and implemented a complex policy framework, since the 1990s, which has slowed down and limited the research and development of genetically modified crops. These regulations are likely to hinder the growth of the global agricultural biotechnology market in this region.

Syngenta AG, Monsanto, DuPont, Performance Plants Inc., Global Bio-Chem Technology Group, and ADAMA Agricultural Solutions are some of the key players in this industry.

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