The global agricultural biotechnology market size was US$ 33.2 billion in 2021. The global agricultural biotechnology market is forecast to reach US$ 55.2 billion by 2030, registering a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030. 

Agricultural biotechnology is a combination of prominent approaches used for increasing crop yield. It gives farmers access to affordable and productive technologies to help them protect crops from disease and change the genetic sequence of crops. 

Factors Influencing

• The primary growth drivers for the global agricultural biotechnology market are increasing population size and the growing need for transgenic crops. The population globally is increasing rapidly. Thus, it is raising the demand for food. Moreover, growing initiatives from authorities to stop hunger would ultimately fuel market growth. 
• Increasing demand for genetically modified crops will propel the growth of the agricultural biotechnology market. Moreover, increasing per capita income and regulatory reinforcement in the United States and Brazil will escalate the demand for agricultural biotechnology. 
• The growing popularity of genetically modified crops in emerging economies and rising agricultural requirements and research efforts are forecast to propel market growth. 
• Strict rules and guidelines associated with the registration of genetically modified products may hamper the growth of the market. 

Geographic Analysis

Geographically, North America is the largest agricultural biotechnology market due to the increasing adoption of biotechnologies, reducing the use of pesticides, and growing advancements in the agricultural sector. Moreover, increasing research activities to cater to the demand of the growing population of North American will fuel the agricultural biotechnology market growth. 

Due to the growing acceptance of new farming techniques, Asia-Pacific is expected to develop, registering a high CAGR during the study period. Furthermore, rising disposable income increased and growing demand for food to cater to the population demand are expected to accelerate the growth of the global agricultural biotechnology market. 

COVID-19 Impact Analysis

During the COVID-19 pandemic, the demand for food increased rapidly. As many people lost their jobs and worked at low wages, governments of various countries took the initiative to feed the population. As a result, the global agricultural biotechnology market grew rapidly. However, the unavailability of raw materials and workforce creates various challenges in the manufacturing and production activities. Thus, market players witnessed a severe decline in terms of revenue generation, majorly during the initial phase of the COVID-19. 

The global agricultural biotechnology market is expected to grow rapidly after the authorities lift lockdown restrictions. Moreover, increasing demand for food and the rapidly growing population of emerging countries will fuel the market growth. 

Competitors in the Market

• Syngenta AG
• Bayer AG
• Evogene Ltd.
• DowDuPont Inc.
• BASF SE
• Performance Plants Inc.
• Global Bio-chem Technology Group Company Limited
• Vilmorin & Cie
• Certis USA LLC
• ADAMA Agricultural Solutions Ltd
• Other prominent players

Market Segmentation

The global agricultural biotechnology market segmentation focuses on Technology, Product, and Region. 

Insight by Technology

• Genome editing tools
• Ribonucleic acid interference (RNAi)
• Biochips
• Deoxy ribonucleic acid (DNA) sequencing
• Synthetic biology

Insight by Product

• Transgenic seeds
• Crop protection products

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America