Agricultural biotechnology refers to a set of scientific methods for improving plants, animals, and microbes. Scientists have devised strategies to boost agricultural output based on their understanding of DNA.
The global agricultural biotechnology market was valued at US$ 28.6 Bn in 2021
It is estimated to grow at a CAGR of 9.5% from 2022 to 2031
The global agricultural biotechnology market is expected to reach value of US$ 64.7 Bn by the end of 2031
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Overview of Global Agricultural Biotechnology Market
Agricultural biotechnology refers to a set of scientific methods for improving plants, animals, and microbes. Scientists have devised strategies to boost agricultural output based on their understanding of DNA. Starting with the ability to recognize genes that may offer advantages to specific crops and the ability to work with such characteristics. Crop biotechnology improves the ability of breeders to improve crops and livestock. Biotechnology allows for advancements that would be impossible to achieve through traditional cross-species breeding.
Biotechnology is extensively utilized in agriculture to improve plant growth and yields, increase resistance to pests and diseases, and enhance nutritional content. In fact, it is estimated that up to 80% of all processed foods, presently, contain ingredients derived from biotechnology. Instances of application of biotechnology in agriculture are widespread, from genetically engineered crops (biotech crops) to the Sterile Insect Technique (SIT) for insect control on fruit trees and grapevines.
Researchers are using biotechnology for the development of foods with improved nutritional value. Genetic modification can be employed to develop crops with higher vitamin content in order to improve the nutritional quality of crops. Three genes have been implanted into genetically modified “golden rice,” enabling plants to manufacture beta-carotene, a chemical that is converted to vitamin A in the human body. Around 250 million children are affected by vitamin A deficiency ? the world’s biggest cause of blindness. Several oil crops have had their content altered via biotechnology, either to enhance the amount of oil produced or to change the sorts of oils produced.
Biotechnology plays a crucial role in order to upgrade some plant proteins that are currently considered incomplete or of low biological value, as they lack one or more of the ‘essential’ amino acids; for instance, maize with improved protein balance and sweet potatoes with increased total protein content. Biotechnology also reduces toxicity of certain foods. For instance, decline in toxic cyanogens in cassava has been possible and could be produced in the future too. Advancements in plant transformation and transgene expression also allow the use of plants as bioreactors in order to produce a variety of bio-products on a large scale and low cost. Several proof-of-concept plant-derived healthcare products have been generated and several commercialized. This exponential growth occurs despite asynchronous regulatory schemes around the world, ranging from moratoriums and prohibitions on genetically modified (GM) organisms to regulations that treat both conventional and biotech novel plant products under the same regulatory framework. The crux of this review is a consolidation of the global legislative landscape on GM crops, as it stands, building on earlier works by specifically addressing how gene edited crops would fit into the existing framework.
Additionally, increasing population is leading to a rise in the demand for food products, and the consequent demand for nutritionally improved food is estimated to boost the application of biotechnology in agriculture during the forecast period.
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The creation of biofuels is another appropriate example of application of biotechnology in agriculture. Biofuels are made from natural sources such as algae, corn stover, and sugarcane bagasse rather than petroleum products. This helps reduce greenhouse gas emissions, as they do not generate any carbon when burned. Biofuels are also used in oil cleanup operations, as biofuels have been demonstrated to effectively address this issue, since the methyl esters contained in the fuel source is a powerful solvent that can serve as a washing agent for contaminated shorelines. This also increases the range of fuel sources available and may promote competition, thus lowering prices. Developing biofuels using sophisticated biotech technologies offers the potential to cut greenhouse gas emissions, while also providing a more reliable fuel source.
A genetically modified organism (GMO) is referred to as a transgenic crop. Transgenic means that genes have been transferred using the recombinant DNA technology. In general, a transgenic crop has one or more genes that have been purposefully transferred from a different species or from an unrelated plant. Plants are also modified to increase their tolerance to cold, frost, or drought; all making a crop easier to grow in a constantly changing environment. This makes the plants safer for the consumer and enables the farmer to save money on chemicals. For instance, most soybean grown in the U.S. is genetically modified soybean. Most genetically modified soybean is used for food for animals, predominantly poultry and livestock, and making soybean oil. It is also used as ingredients (lecithin, emulsifiers, and proteins) in processed foods. Thus, transgenic crops are a cost-effective safer method of producing crop products, which makes them appealing and potentially profitable.
North America holds a key share of the global agricultural biotechnology market. The market in the region is anticipated to grow at a CAGR of more than 10.2% during the forecast period. Increase in demand for agri-biotechnology in various applications, such transgenic biotech crops (corn, soybean, and cotton), synthetic biology-enabled products, and tools is driving the agricultural biotechnology market in North America. The U.S. held significant share of the agricultural biotechnology market in North America in 2021. The country is estimated to maintain its dominant position in the market in the region during the forecast period.
Asia Pacific is also a prominent region of the global agricultural biotechnology market. China led the agricultural biotechnology market in Asia Pacific in 2021. Increase in demand for agricultural biotechnology in transgenic crops (corn, soybean, and cotton), synthetic biology-enabled products, and tools is driving the market in China.
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The global agricultural biotechnology market is consolidated with a small number of large-scale vendors controlling majority of the market share. Several firms are spending significant sums on comprehensive research and development, primarily to develop transgenic crops, as they enhance the quality of the yield. Diversification of product portfolios and mergers & acquisitions are strategies adopted by key players. Bayer CropScience, DuPont Pioneer Hi-Bred, Dow AgroSciences, Evogene Ltd, KWS SAAT AG, Certis USA, Mycogen Seeds, Global Bio-chem Technology, and Rubicon are a few prominent entities operating in the global agricultural biotechnology market.
Each of these players has been profiled in the agricultural biotechnology market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets.
Nov 04, 2022
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