Global Plant Biotechnology Market Size To worth USD 143.70 Billion By 2033 | CAGR of 8.16%
Category: AgricultureGlobal Plant Biotechnology Market Size To worth USD 143.70 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Plant Biotechnology Market Size is Expected to Grow from USD 65.58 Billion in 2023 to USD 143.70 Billion by 2033, at a CAGR of 8.16% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 121 Market data tables and figures & charts from the report on the "Global Plant Biotechnology Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Crop Protection & Nutrition Solution Products, Biotech Seed & Traits, and Synthetic Biology Enabled Products), By Technology (Genetic Engineering, RF Technology, Wi-Fi Technology, Imaging Technology, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/plant-biotechnology-market
Developing and using biotechnology techniques to enhance plant productivity, sustainability, and resistance to environmental stressors is the focus of the worldwide "plant biotechnology market." Genetically modified (GM) crops, molecular breeding, biofertilizers, and biopesticides are driving advances in agriculture, food security, and environmental conservation. The plant biotechnology market is expanding due to several factors, including government laws, R&D expenditures, and the increased need for sustainable agriculture solutions. The largest population and the increasing need for food grains are the primary drivers of the plant biotechnology sector. One of the main drivers of the global plant biotechnology industry is the increasing importance of sustainable food production. Innovation in biotechnology research, such as gene editing technologies, molecular breeding techniques, and bioinformatics, is what propels the global plant biotechnology business. To combat climate change, there is a growing need for high-value crops, a faster rate of seed replacement, and the use of plant growth regulators. However, regulatory obstacles, moral dilemmas, exorbitant expenses, scarce financial resources, public mistrust, ecological hazards, patent problems, trade restrictions, and technology limitations are restricting the market.
The biotech seed & traits segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the product type, the plant biotechnology market is classified into crop protection & nutrition solution products, biotech seed & traits, and synthetic biology enabled products. Among these, the biotech seed & traits segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The introduction of transgenic seeds has revolutionized agriculture worldwide by assisting farmers in adopting more sustainable agricultural methods, raising yields, and lowering input costs.
The genetic engineering segment is anticipated to witness the fastest CAGR growth during the forecast period.
Based on the technology, the plant biotechnology market is divided into genetic engineering, RF technology, Wi-Fi technology, imaging technology, and others. Among these, the genetic engineering segment is anticipated to witness the fastest CAGR growth during the forecast period. Genetic engineering reduces the demand for fertilizers, fungicides, and pesticides while increasing crop resilience to environmental challenges. It is possible to incorporate beneficial agronomic qualities from related or unrelated species by introducing certain genetic alterations.
North America is estimated to hold the largest share of the plant biotechnology market over the forecast period.
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North America is estimated to hold the largest share of the plant biotechnology market over the forecast period. North America is a major centre for innovation and commercial development because of its robust biotechnology infrastructure, substantial R&D investment, and encouraging regulatory environment.
Asia Pacific is predicted to grow at the fastest CAGR in the plant biotechnology market over the forecast period. A significant portion of the world's population lives in this region, which faces the pressing challenge of preserving food security in the face of shrinking arable land and changing climatic trends.
Europe is anticipated to hold a substantial share of the plant biotechnology market throughout the predicted period. Advances in genetically modified (GM) crops, biopesticides, and precision agriculture are driving market growth.
Major key players in the plant biotechnology market include UPL, BASF SE, Syngenta AG, IPL Biologicals, Bayer AG, FMC Corporation, Profarm, Rovensa Next, Limagrain, Certis USA LLC., DLF Seeds A/S, Nufarm, Sumitomo Chemical Co. Ltd., Lallemand Inc., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In September 2024, A deal was made by FMC Corporation to extend its biologicals platform in Brazil with Ballagro Agro Tecnologia Ltd., a pioneer in fungi-based biosolutions. The deal combines FMC's knowledge of microbial solutions with Ballagro's experience
- in fungi-based technology, with FMC Brazil licensing and distributing important biosolutions from Ballagro.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the plant biotechnology market based on the below-mentioned segments:
Global Plant Biotechnology Market, By Product Type
- Crop Protection & Nutrition Solution Products
- Biotech Seed & Traits
- Synthetic Biology Enabled Products
Global Plant Biotechnology Market, By Technology
- Genetic Engineering
- RF Technology
- Wi-Fi Technology
- Imaging Technology
- Others
Global Plant Biotechnology Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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