PUBLISHER: TechSci Research | PRODUCT CODE: 1886465
PUBLISHER: TechSci Research | PRODUCT CODE: 1886465
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The Global Agricultural Biotechnology Market, valued at USD 96.35 Billion in 2024, is projected to experience a CAGR of 9.27% to reach USD 164.01 Billion by 2030. Agricultural biotechnology involves the application of scientific tools and techniques to modify living organisms, primarily plants and animals, for agricultural enhancement. Key drivers supporting market expansion include the escalating global demand for food, which necessitates improved crop yields, and the imperative to enhance nutritional content and resilience in staple crops to address food security concerns.
| Market Overview | |
|---|---|
| Forecast Period | 2026-2030 |
| Market Size 2024 | USD 96.35 Billion |
| Market Size 2030 | USD 164.01 Billion |
| CAGR 2025-2030 | 9.27% |
| Fastest Growing Segment | Transgenic Crops & Animals |
| Largest Market | North America |
Key Market Drivers
The increasing global population coupled with persistent food security concerns represents a primary driver for the agricultural biotechnology market. As the world's population continues to expand, the imperative to produce sufficient, nutritious food intensifies, particularly amidst environmental challenges and resource scarcity. Agricultural biotechnology offers solutions to meet this rising demand by enhancing crop resilience and nutritional value.
Key Market Challenges
The global agricultural biotechnology market faces a significant impediment due to the complex and often varied regulatory approval processes across different nations. This fragmented regulatory landscape directly leads to considerable delays in product commercialization. In the United States, according to The Breakthrough Institute citing the Biotechnology Regulatory Service, during fiscal year 2023, less than 20% of Risk Status Reviews were completed within the set timeframes of 180 days and 15 months for the respective steps, resulting in 80% of applications being delayed.
Key Market Trends
Precision gene editing technologies are fundamentally reshaping agricultural biotechnology by offering unprecedented precision and speed in modifying plant genomes. Technologies like CRISPR-Cas9 enable targeted alterations, developing crops with enhanced traits such as disease resistance or nutritional value more efficiently than traditional breeding.
In this report, the Global Agricultural Biotechnology Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the Global Agricultural Biotechnology Market.
Global Agricultural Biotechnology Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: