Global Biotech Crop
Market Report
2024
The Global Biotech Crop market size will grow at a compound annual growth rate (CAGR) of 9.30% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global biotech crop market size will grow at a compound annual growth rate (CAGR) of 9.30% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Biotech Crop Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.3% |
Market Split by Crop Type |
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Market Split by Trait |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Biotech Crop Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An increase in the adoption of Genetically Modified (GM) crops globally is anticipated to drive the market over the forecast period. This is because genetic modification permits the production of feed and food crops with expanded characteristics such as high yield, high nutritional value, expanded food-processing qualities, and resistance against illness and insects. In various countries, GM crops have been embraced rapidly, and the market for herbicide-tolerant, insect-resistant GM seeds is among the increasing sectors of the agricultural industry.
As per the International Service for the Investment of Agri-biotech Applications (ISA) estimates, 2.15 billion hectares of biotechnology crops have been commercially expanded from 1996 to 2016.
(Source:www.isaaa.org/resources/publications/briefs/53/download/isaaa-brief-53-2017.pdf)
Changing climatic patterns could influence pest distribution, behaviors, and population dynamics. As pests adapt to new conditions, they can become more challenging to control, intensifying the demand for effective pest management. The transformation in climate conditions is an important characteristic that has contributed to the market's growth. This is attributed to global warming, which modifies the individual dynamics of insects and their ecosystems, as they are found prominently in warmer climates.
As per an article published by FAO in 2021, a new research study states that plant pests that decimate economically significant crops are becoming more destructive due to the impact of climate change, posing a rising threat to food security and the environment. FAO also states that annually, up to 40% of global crop production is lost because of pests, and each year, plant diseases cost the global economy over $ 220 billion, and the cost due to invasive insects is estimated to be at least $ 70 billion. Therefore, proper pest management should be in place to mitigate the impact of these pests on plants and human health.
(Source:www.fao.org/news/story/en/item/1402920/icode/)
A notable restraint in advancing biotech crops lies in the imperative for strict regulations. As these crops implicate genetic manipulation, situations over their potential environmental, health, and societal effects necessitate robust oversight. While these rules are necessary to provide safety and minimize risks, they can inadvertently hinder progress. Extreme bureaucracy and prolonged clearance processes might prevent research and development investment, slowing the introduction of creative biotech crops that could address demanding agricultural challenges. Striking the right balance between safety and promoting scientific improvement is necessary. Regulatory frameworks should promote transparency, thorough risk assessments, and ongoing monitoring while fostering an environment where biotech inventions can flourish and donate to sustainable and resilient agricultural practices.
The COVID-19 pandemic impacted the biotech crop market. COVID-19 poses a significant threat to global food security. Millions of people were malnourished and hungry before the epidemic. Thus, immediate action is needed to address the global food crisis. Dealing with food security is a critical step toward post-COVID-19 rehabilitation techniques. Also, the pandemic impacted domestic food supply networks in several countries. The aftereffects of COVID-19 and the global economic crisis could disturb the smooth process of food systems in the future. As a result, mitigation of such disruptions by cutting-edge technologies such as biotechnology is anticipated to expand in the future years.
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The market for biotech crops has a very active and diverse competitive environment. Major key players in the biotech crop market are catering to the increasing demand for these devices by funding in technologically developed products in their global product portfolio. Advanced biotech techniques support professionals in incorporating new genes from one species into another irrelevant species. Some of the most common subjects of genetic engineering include crops, farm animals, and soil bacteria.
In April 2022, Corteva Agriscience opened a new Center for Seed Applied Technologies (CSAT) in southwest France to assist Europe's farmers in getting their crops off to the best start and achieving a successful harvest. The Center in Aussonne is the first for Corteva in Europe and its third worldwide. The CSAT would focus on service development, with a strong scientific investment expected to be a part of recent seed treatment solutions to assist farmers in catering to the challenges of the ever-changing agricultural sector.
September 2021: A foundation professor associated with the University of Nevada was awarded a USD 1.55 million grant by the National Science Foundation to research improving drought tolerance and efficiency of water use in plants to aid in preserving agricultural productivity amid climate change. The department aims to create drought-tolerant crops to help in global food production during periods of intense drought.
October 2021: A team of agricultural scientists and experts approached the Karnataka government for permission to conduct Biosafety Regulatory Level 1 field trials of crops like Bt Maize and Bt cotton. This move is a part of accelerating the adoption of technological advancements to improve crop productivity and resist pest attacks.
Top Companies Market Share in Biotech Crop Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Global Biotech Crop Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Biotech Crop Industry growth. Biotech Crop market has been segmented with the help of its Crop Type, Trait , and others. Biotech Crop market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, cotton drives the global biotech crop market due to the increasing cultivation of genetically modified cotton across the globe, positive effects of growing biotech cotton on the environment due to drastic reduction in Pesticide use, rising number of research studies by biotech companies and research institutes to develop superior biotech cotton, increasing cotton farming across the globe, and growing use of cotton for fiber, oil, and seeds for livestock feeding.
Maize is the second-most major crop genetically engineered for various traits. Biotech maize can be engineered to produce toxic proteins for specific insect pests, such as the European corn borer. This reduces the need for chemical insecticides, potentially benefiting both the environment and farmers. Some biotech maize varieties are designed to tolerate certain herbicides, allowing farmers to control weeds more effectively. This trait can simplify weed management and potentially increase yields.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Biotech Crop Industry. Request a Free Sample PDF!
Herbicide tolerance held the major share in the biotech crop market due to the wide availability of herbicide-resistant crops, increasing awareness regarding the advantages of herbicide-resistant crops in farm management and simplification of weed management, reduced negative impact on the environment due to decreased growth of weeds, increased crop yield and reduced costs of farming, and reduction in soil erosion.
According to Cognitive Market Research, insect resistance is the second-most popular product. The demand for insect resistance is increasing due to factors highlighting the urgent need for effective management. Insect pests significantly threaten public health and property, compelling individuals, businesses, and governments to seek professional pest control solutions. As global populations expand, urbanization intensifies, and climate conditions change, the conducive environments for insect infestations multiply. Additionally, insects can carry diseases, such as the Zika virus or malaria, highlighting how crucial it is to keep their populations under control to safeguard the public's health. The need for pest control strategies specifically targeting these pests is growing due to these issues and enhanced awareness of the negative effects of insect pests on the economy, human health, and the environment.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Biotech Crop market report 2024 Edition by contacting our team.
According to Cognitive Market Research, North America fueled the biotech crop market in 2022 and accounted for a major share of more than 37% of the global revenue due to increasing use of genetically modified crops in the United States and Canada, rising number of research & development activities by biotech companies to develop novel varieties of crops with different attributes, growing FDA approval for field tests of biotech crops, rapid adoption of genetically engineered seeds by farmers, advancements in weed management programs, and robust existence of major market players are some factors contributing to the expansion of the market in this region. Additionally, the biotech crop market in North America is driven by factors such as enhanced agricultural productivity, improved pest and disease management, efficient weed control, heightened environmental sustainability, economic gains for farmers, and overall innovation in agriculture. These drivers stem from genetically modified crops' abilities to increase yields, reduce chemical usage, promote sustainability, and boost profits, aligning with the region's agricultural needs and goals.
Asia Pacific market is to register a significantly fast revenue CAGR over the projected period due to rapid advancements in the biotechnology sector, growing adoption of biotech crops in various economies such as India, China, and the Philippines, among others, rising cultivation of Bacillus thuringiensis cotton and biotech rice in the region, growing commercialization of biotech crops, and increasing focus on sustainability and R&D to develop robust next-generation biotech crops. In addition, growing public acceptance of clean and hazard-free biotech crops has further motivated farmers in the region to plant biotech crops, which is anticipated to contribute to revenue expansion of the market in this region.
The current report Scope analyzes Biotech Crop Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Research Analyst at Cognitive Market Research
I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.
I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.
I am committed to continuous professional development, regularly engaging in workshops, seminars, and staying attuned to the latest industry trends. This commitment reflects my dedication to providing cutting-edge insights and staying ahead in the ever-evolving field of research. I led research initiatives aimed at uncovering market opportunities and enhancing competitive positioning. My responsibilities spanned the entire research lifecycle, from designing methodologies to presenting findings. Through collaborative efforts, I facilitated data-driven decision-making processes that contributed to the overall success of key projects.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Biotech Crop Market is witnessing significant growth in the near future.
In 2023, the Soybean segment accounted for noticeable share of global Biotech Crop Market and is projected to experience significant growth in the near future.
The Herbicide Tolerance segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies BASF and Bayer CropScience , Agrivida Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Crop Type | Soybean, Maize, Rice, Cotton, Canola, Others |
Trait | Herbicide Tolerance, Drought Resistance, Insect Resistance, Stacked Traits |
List of Competitors | BASF and Bayer CropScience, Agritope Inc., Agrivida Inc., Syngenta AG, The Dow Chemical Company, Agragene, DuPont, Bejo Zaden BV, Del Monte Fresh Produce Company, DNA Plant Technology Corporation, Monsanto Company |
This chapter will help you gain GLOBAL Market Analysis of Biotech Crop. Further deep in this chapter, you will be able to review Global Biotech Crop Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Biotech Crop Market Trends North America Biotech Crop Technological Road Map North America Biotech Crop Market Drivers North America Biotech Crop Market Restraints North America Biotech Crop Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Crop Type Analysis 2019 -2031, will provide market size split by Crop Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Crop Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Trait Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Biotech Crop market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Soybean have a significant impact on Biotech Crop market? |
What are the key factors affecting the Soybean and Maize of Biotech Crop Market? |
What is the CAGR/Growth Rate of Herbicide Tolerance during the forecast period? |
By type, which segment accounted for largest share of the global Biotech Crop Market? |
Which region is expected to dominate the global Biotech Crop Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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