Food Biotechnology Market Growth, Size, Share and Forecast 2019-2025

The global food biotechnology market is anticipated to grow at a significant rate during the forecast period (2019-2025). The growing adoption of genetically modified (GM) crops across the globe is driving the growth of the food biotechnology market. GM crops are referred to as the crops in which the genetic material such as DNA is altered using genetically engineered methods. An individual gene that is modified for the GM crop enhances the durability and nutritional value of the crop, in order to generate biologically robust crops. Bacillus thuringiensis (Bt) is one such bacteria that is used in the modification of genes in the crops such as corn. GM crops have their genetic material modified through biotechnologies, in order to develop enhanced characteristics in the crop, which includes herbicide tolerance, enhancement of certain nutrients, insect resistance, and drought tolerance.

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Increasing the adoption of Bt corn can be regarded as the commercial introduction of novel ranges that are resistant to the corn earworm and the rootworm. Adoption rates for Bt corn often fluctuate, depending on damages created by the European corn borer and corn rootworm to the crops. Similarly, the adoption rates for Bt cotton majorly depend on the severity of bollworm, tobacco budworm, and pink bollworm as these cause damage to the crop. Research institutes and companies are focusing on the development of a number of GM crops or transgenic crops that would carry novel traits for commercial agriculture production. Some of the characteristics developed by the institutes and companies are inter alia, maize, pest-resistant cotton, canola, herbicide glyphosate-resistant soybean, viral disease-resistant potatoes, cotton, papaya, and squash.

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The benefits of yielding GM crops include a reduction in the market risks, as it protects crops from unusual weather, insects, and harmful pesticides, in turn, produce greater yields. Moreover, there occurs a wide adoption of GM crops across the globe due to its various health and environmental benefits, which include multiple micronutrients in the same crop and reduces the use of herbicide and insecticide.The farmers have widely adopted genetically modified crops technology across the globe. According to the Food and Agriculture Organization (FAO), around 15 million hectares of the land are planted with GM crops across the globe and America constitutes the largest region in the production of GM crops.The reducing size of cultivable land is one of the major drivers for the implementation of genetically modified crops, as the crops can be speedily cultivated using GM techniques. Therefore, more farmers are adopting the plantation method of GM crops, in order to generate enormous yield, which in turn is anticipated to drive the global food biotechnology market.

Global Food Biotechnology Market

By Type

o Transgenic Biology
o Synthetic Biology

By Application

o Plants
o Animals

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Global Food Biotechnology Market Segmentation by region

North America

o United States
o Canada

Europe

o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe

Asia-Pacific

o China
o Japan
o India
o Rest of the Asia-Pacific

Rest of the World

o Middle East & Africa
o Latin America

Company Profiles

o ABS Global, Inc.
o AquaBounty Technologies Inc.
o Arcadia Biosciences, Inc.
o BASF SE
o Bayer AG
o Certis U.S.A. LLC
o Cibus Global, Ltd.
o Corteva Agriscience (The Dow Chemical Co.)
o DuPont de Nemours, Inc.
o Hy-Line International
o Evogene, Ltd.

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