Growth of the Agricultural Biotechnology Market - Key Players are Syngenta, Performance Plants, Monsanto Company, Certis USA, Evogene

In 2016, the global agricultural biotechnology market generated a revenue of $28.5 billion and is predicted to witness a 10.1% CAGR during the forecast period (2018-2023). The market is growing due to the increasing per capita income, rising requirement for transgenic crops, surging population, rising demand for biofuel, and regulatory support in Brazil and the U.S. Agricultural biotechnology involves the usage of scientific techniques and tools, such as genetic engineering, molecular diagnostics, molecular markers, tissue culture, and vaccines, for modifying living organisms including microorganisms and plants.

Global Agricultural Biotechnology Market Key Players are:
1- Syngenta
2- Performance Plants
3- Monsanto Company
4- Certis USA
5- Evogene

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In terms of technology, the agricultural biotechnology market is categorized into deoxy ribonucleic acid (DNA) sequencing, synthetic biology, genome editing tools, ribonucleic acid interference (RNAi), and biochips. Out of these, genetic editing tools held the largest share of the market during the historical period (2013-2016) synthetic biology is projected to witness the fastest growth, witnessing a 10.9% CAGR, during the forecast period. This is because synthetic biology has the ability to generate larger clusters of genes and gene parts in a single genome of a crop seed, when compared to traditional transgenic approach.

The rising demand for biofuel is key driving feature of the agricultural biotechnology market. In last few years, biofuel has emerged as a promising solution when it comes to economic and environmental challenges associated with petroleum dependency and provide energy security. Developed countries in North America and Europe are witnessing a reduction in liquid fuels consumption from the transportation sector because of the increased vehicle fuel efficiency and rising interest in alternative fuel vehicles. This rising requirement for renewable fuel is further resulting in the growing demand for agricultural biotechnology products.

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GLOBAL AGRICULTURAL BIOTECHNOLOGY MARKET SEGMENTATION
By Technology
o Genome Editing Tools
o Deoxy Ribonucleic Acid (DNA) Sequencing
o Ribonucleic Acid Interference (RNAi)
o Synthetic Biology
o Biochips
By Product
o Transgenic Seeds
o Soybean
o Maize
o Cotton
o Fruits and vegetables
o Others
o Crop Protection Products
o Biopesticides
o Biostimulants

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