The recently published report titled “Global Agricultural Biotechnology Market: Global Industry Size, Share, Trends and Forecast, 2018 - 2026” is an in depth study providing complete analysis of the industry for the period 2018 – 2026.
Transgenic crops are formed by applying biotechnology on transgenic seeds by genetic modification. Transgenic crops have thus emerged as one of the dominant applications and is expected to maintain its lead due to rising demand for food coupled with unavailability of arable land. Genes in transgenic crops are inserted artificially and thus the plant doesn’t acquire them naturally through pollination. The sequence of genes is known as transgene and is not compulsorily from the same plant with the inserted genes. A transgene can be from any other irrelevant plant or from a completely different species of plant. In agricultural biotechnology, all the crops are modified genetically from their past condition by selection, domestication and controlled breeding, thus offering more varieties of crops to consumers as compared to any natural process or cross pollination. Crops produced through agricultural biotechnology provide longer shelf life, improved yield, resistance to pests and high nutritional value due to which the supply-demand gap for food grains has reduced.
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Agricultural biotechnology involves the use of scientific tools which can be used on plants or living organisms to improve the overall agricultural productivity. It is highly used in transgenic or genetically modified crops and has benefitted producers, farmers as well as consumers by providing better crop quality and high yield. Agricultural biotechnology is also known as agritech, and is a vast field which involves the use of scientific techniques and tools including molecular markers, vaccines, genetic engineering, tissue culture and molecular diagnostics. Required traits are imported from a species of crop to a different species. Transgene crops possess desirable properties such as growth rate, flavor, size of harvested products, color of flowers and resistance to pests and diseases. Based on research on DNA, researchers and scientists have employed various solutions to increase the overall agricultural productivity by identifying genes to confer the ability to work with such properties precisely enough and advantages on several crops and to make improvements in livestock and crops. Improvements made in the overall crop yield are not possible using conventional and traditional techniques.
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Increasing agricultural demands due to expansion in the global population is anticipated to complement the demand for agricultural biotechnology over the forecast period. Rising demand for bio-fuel owing to less abundance of conventional energy resources is further expected to drive the Global Agricultural Biotechnology Market growth. Increasing demand for animal feed due to increase in non-vegetarian food consumption along with changing food habits is a key factor propelling the growth of global agricultural biotechnology market over the forecast period. However, opposition for genetically modified foods in some regions is a major aspect hindering the growth of global agricultural biotechnology market and can pose serious challenge to industry players during the forecast period. Increasing capital investments in the advancement of agricultural biotechnology techniques is expected to pose bright opportunities for industry players in the global agricultural biotechnology market. Moreover, increasing demand for transgenic crops owing to the rise in demand for advanced and modified food is projected to fuel the global agricultural biotechnology market. In addition, patent-protected industry is expected to limit the overall growth of the market. Furthermore, increasing number of research and development activities being carried out in opportunistic regions such as Africa and Asia-Pacific is expected to be a key opportunistic factor over the forecast period. Application of agricultural biotechnology on crops using genetic modification has affected the development of transgenic crops since transgenic seeds offer better productivity of crops than traditional seeds.
The global agricultural biotechnology market can be segmented on the basis of application and geography. By application, the global agricultural biotechnology market can be segmented into soybean, corn, cotton and others. On the basis of geography, the global agricultural biotechnology market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.
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Some of the key players in the global agricultural biotechnology market include Monsanto, Bayer CropScience, Syngenta, Vilmorin, DuPont Pioneer Hi-Bred, Dow AgroSciences, Vilmorin, Certis USA, KWS SAAT Ag, Evogene, Certis and Mycogen Seeds among others.
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