The global agricultural biotechnology market was valued at $33.8 billion in 2018. Agricultural biotechnology is the collection of new techniques to improve the productivity and efficiency of crops. It offers framers an innovative technology that can make harvest reasonable and productive. It is used to protect crops from destructive diseases and to change the genetic sequence of crops, increasing crop production. The global agricultural biotechnology market is growing at a significant pace due to rising per capita income and increasing demand for biofuels.

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The growing population size, the growing need for transgenic crops, the increasing demand for genetically modified crops, the escalating per capita income, strengthening of regulations in the US and Brazil, intensification of livestock feeding due to increasing meat consumption, and the increasing demand for biofuels are the main growth drivers. for the agricultural biotechnology market.

The majority of genetically modified crops grown in developing countries, escalating agricultural needs and increasing research activities on genetically modified crops in developing countries are also facilitating the growth of the agricultural biotechnology market.

It is observed that Asia Pacific is witnessing the fastest growth in the market, due to the increasing adoption of modern agricultural techniques. Moreover, rising disposable income, higher demand for food and growing population size are also creating a positive impact on the growth of the agricultural biotechnology market in the region.

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Key players in the agricultural biotechnology market are responding to the demand for these devices by investing in technologically advanced products in their product portfolios across the world. In June 2018, Bayer AG acquired Monsanto Company to help and improve the harvest even more.

Syngenta AG, Bayer AG, Evogene Ltd., DowDuPont Inc., KWS SAAT SE, BASF SE, Performance Plants Inc., Global Bio-chem Technology Group Company Limited, Vilmorin & Cie, Certis USA LLC and ADAMA Agricultural Solutions Ltd are the important players offering agricultural biotechnology.

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