The global agricultural biotechnology market size is expected to reach USD 161.45 billion by 2025 growing at a CAGR of 7.07%, according to a new report by Grand View Research, Inc. Advent of unique genetic resources and genome modification tools is anticipated to enhance understanding of plant biology over the coming years. Additionally, a rise in demand for biofuel owing to depletion of conventional fuel is further projected to propel the market growth.
Penetration
of genetic engineering tools has been recognized as a solution to overcome the
pitfalls of conventional vaccine production. Genetically engineered vaccines
have the potential of transforming the vaccine development scenario in the
future. These products are continuously assessed by vaccine developing
companies to understand the significance of recombinant vaccines in clinical as
well as economical aspects which has made significant contributions to the
revenue generated by vaccine development application segment in 2018.
Development
of transgenic livestock is expected to immensely impact the improvement of
nutrition, human health, animal welfare, reducing diseased livestock, and
enhancing environmental protection. Moreover, genetic modification carried out
in stem cells, livestock, and others are attributed to result in high-quality
food and more yield from livestock. Some of the frequently adopted techniques
for the development of transgenic animals include recombinant retroviruses,
pronuclear Injection, sperm-mediated DNA transfer, embryonic stem cells, germ
cell transplantation, and nuclear transfer “Cloning”.
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Further key
findings from the study suggest:
- Transgenic
crops & animals segment accounted for the highest revenue generated in
2018 and is anticipated to maintain this trend throughout the forecast
period
- Vaccine
development segment is set to grow at the fastest pace from 2019-2025
- Agricultural
biotechnology for plants has dominated with respect to market share and is
projected to maintain its dominance throughout the forecast period
- Agricultural
biotechnology for animals is the fastest growing organism type segment
from 2019-2025
- North America
is the leading regional market due to the high penetration of novel
biotechnology tools
- In addition,
a number of public-private partnerships has grown significantly in this
region. These initiatives allow the development and maintenance of public
infrastructure, agriculture, and healthcare programs in North America
- Asia Pacific
is projected to be the fastest-growing regional market owing to supportive
climatic conditions in different countries, which allows multiple growing
seasons in a single year
- A robust
network of local agricultural biotechnology manufacturers has
significantly contributed to the revenue generated by Asia Pacific
- Some of the
key participants in agricultural biotechnology market are KWS SAAT SE
& Co. KGaA, Corteva, MITSUI & CO., LTD, Evogene Ltd., Valent
BioSciences LLC, and Bayer AG among others
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Grand View Research has
segmented the global agricultural biotechnology market on the basis of
application, organism type, and region:
Agricultural
Biotechnology Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Vaccine Development
- Transgenic Crops & Animals
- Antibiotic Development
- Nutritional Supplements
- Flower Culturing
- Biofuels
Agricultural
Biotechnology Organism Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Plants
- Conventional Techniques
- Established Genetic Modification
- New Breeding Techniques
- Animals
- Conventional Techniques
- Established Genetic Modification
- New Breeding Techniques
- Microbes
- Conventional Techniques
- Established Genetic Modification
- New Breeding Techniques
Agricultural
Biotechnology Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- MEA
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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