Agricultural Biotechnology Market
The global agricultural biotechnology market is growing at a significant rate. Due to
rising per capita income and rising demand for biofuel, the global agricultural
biotechnology market is expanding at a rapid pace.
On the basis of the technology, Due to synthetic biology's ability to generate larger
groups of genes and gene parts in a specific genome of crop seed, the synthetic biology
segment is expected to expand at the fastest pace in the industry.
On the basis of product, Crop protection products are projected to rise at a faster pace
in the market as a result of their advantages, which include protecting plants from a
variety of harmful chemicals and pests.
The primary growth drivers for the agricultural biotechnology market are increasing
population size, a growing need for transgenic crops, rising demand for genetically
modified crops, rising per capita income, regulatory reinforcement in the United
States and Brazil, intensifying animal feed due to rising meat consumption, and the
demand for biofuel.
The major obstacles for the growth of the agricultural biotechnology industry are strict
rules and guidelines associated with the registration of genetically modified seeds,
terminator seed technology, concerns associated with patent rights of biotech crops, and
controversy against genetically modified crops in Europe.
Manufacturing firms attempting to enter the agricultural biotechnology industry must
adhere to strict regulatory guidelines.
Due to the growing acceptance of modern farming techniques, Asia-Pacific is expected
to expand at the fastest rate in the market.
The leading players in the agricultural biotechnology market are Global Bio-chem
Technology Group Company Limited, Vilmorin & Cie, Certis USA LLC, and ADAMA
Agricultural Solutions Ltd.
Source: VynZ Research
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