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Agriculture biotechnology market refers to the market of techniques and deployment of scientific tools which modifies, re-engineer tissue culture to modify plants, animals and microorganisms. Global agriculture biotechnology market is expected to grow with an impressive CAGR over forecast period 2017-2024. Modification of crop DNA by deploying genetically engineering methods for producing genetically modified crops (GM) is current trend in global agriculture biotechnology market. Decreasing arable land area along with increasing food demand are some of the key factors driving the growth of global agriculture biotechnology market. Also, rising research and development activities across the globe has unfolded growth opportunities in the market. The major restraint for this market is hostility or reservation against the genetically modified crops in the European region is hampering the growth in the global market.
Increasing demand for food across the globe is a key factor driving the growth in global agriculture biotechnology market. Rising global population has resulted in the increased demand for food over the past years. As per Harvard Business Review, in 1915, the global population was around 1.8 billion which has increased to 7.3 billion in 2015 and expected to increase to 9.7 billion till 2050. With the increase in global population, food consumption is expected to increase which in turn accelerate the need for high yielding crops. Agriculture biotechnology constitutes the use of methods which propels the agriculture and its production. According to Harvard Business Review, food demand across the globe is expected to register an increase of around 59% from 2016 to 98% by the end of 2050. Thus, to fulfill this, increasing global food demand need for more productive agricultural technology is emerging which is expected to contribute in growth of global agriculture biotechnology market.
The report on the global agriculture biotechnology market is segmented on the basis of application and technology.
Application segment of global agriculture biotechnology market includes:
· Transgenic crops
· Synthetic biology-enabled products
Technology segment of global agriculture biotechnology market includes:
· Biochips market
· Deoxy ribonucleic acid (DNA) sequencing market
· Genome editing tools market
· Ribonucleic acid interference (RNAi) market
· Synthetic biology market
The report scope and market revenue estimates and forecast of global agriculture biotechnology market is widely categorized on the basis of its application segment in transgenic crops and synthetic biology-enabled products.
Geographically, the global agriculture biotechnology market report has been segmented in:
· North America (U.S. & Canada)
· Asia Pacific (China, India, Japan, RoAPAC)
· Europe (UK, France, Germany, RoE)
· Rest of World
Geographically North America is expected to dominate the global agriculture biotechnology market over forecast period 206-2023. Adoption of genetically modified crops over the regions of North America is expected to drive the growth of global agriculture biotechnology. According to ISSSA, International Service for the Acquisition of Agri-Biotech Applications, United States of America is expected to register its dominance in biotech crops segment around 72.9 million hectares was covered with around 39%biotech crop planting. In North America, US is the largest producer of genetically modified crops which is accounted for 175 million acres in 2015. Moreover, in Canada there is a downfall of 5% in the total land capacity production of such crops i.e. around 27 million in 2015. However, Asia Pacific is expected to register fastest growth in global agriculture biotechnology market over the forecast period 2017-2024. Increasing demand for quality food in Asia Pacific countries is expected to contribute towards the adoption of transgenic crops to fulfill the increasing food demand by rising the productivity on existing land. Increase in the demand for bio-based food products in the Asian countries is expected to contribute in growth of the regional market.
Segmentation of global agriculture biotechnology is bifurcated by application and technology. Its application in transgenic crops, and synthetic biology-enabled products. Transgenic crops segmentation is expected to dominate global agriculture biotechnology market over forecast period 2017-2024. Growing food demand globally has increased the need for high yielding crops and technologies that promotes high yielding crops. The increasing application of biotechnology in agriculture products by genetic engineering and modification subject to the advancement in the transgenic seed and transgenic crops. However, soybean sub-segment of transgenic crop segment is expected to register significant market share over the forecast period. Further, market is segmented on the basis of synthetic biology-enabled products. Technology is sub-segmented into biochips MARKET, Deoxy ribonucleic acid (DNA) sequencing market, Genome editing tools market, Ribonucleic acid interference (RNAi) market and Synthetic biology market
The major market players of the global agriculture biotechnology market are:
· BAYER CROPSCIENCE AG (Germany)
· DOW AGROSCIENCES LLC (U.S)
· GLOBAL BIO-CHEM TECHNOLOGY (Hong Kong)
· KWS SAAT SE (GERMANY)
· MARINA BIOTECH (U.S.)
· MONSONTO (U.S.)
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launch whereas, collaboration is the key strategy adopted by the companies in the global agriculture biotechnology market.
For example: In 2017 (Collaboration), Dupont Pioneer and Evogene Ltd. has entered into a multi-layer collaborative agreement on research and development of microbiom treatment on corn seeds. The scope of the initiative involves the development and production of innovative bio-stimulant seed treatment products which is helpful in protecting and accelerating the corn yield. By this agreement, both companies are expected to gain profit by registering remarkable market share in the segment by utilizing leading technologies. Under the agreement, DuPont is liable to provide access to its seed treatment application technology and also to its product development strategies. Whereas, Evogene in turn is delivering its predictive computational biology platform along with its microbial formulation and fermentation technologies.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in the global agriculture biotechnology market.
Key reasons to buy the report:
· The report includes market estimation, forecast and analysis of global agriculture biotechnology market for forecast period 2017-2024.
· Report includes detailed analysis of different segments such as application and technology of global agriculture biotechnology market during forecast period.
· Identify and understand the strengths, opportunities, challenges and threats of global agriculture biotechnology market during forecast period.
· Covers detailed analysis of Porter’s 5 force model and other strategic models. Also covers revenues, market share analysis, and competitive landscape analysis of major players of the global agriculture biotechnology market during forecast period.
· Detailed analysis of various regulatory policies which are affecting the global agriculture biotechnology market during forecast period.
How are we different from others?
At Occams, we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on the global agriculture biotechnology market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global agriculture biotechnology market, with giving extensive SCOT analysis of key companies.
Key findings of the global agriculture biotechnology market:
· Increasing food demand across the globe is expected to promote the growth of global agriculture biotechnology market during forecast period.
· Asia Pacific is expected to be the fastest growing region in agriculture biotechnology market during forecast period.
· Transgenic crops is expected to be the fastest growing segment in global agriculture biotechnology market during forecast period.
· Collaboration is the key strategy adopted by the major market players in global agriculture biotechnology market during forecast period.