Agricultural Biotechnology Market Summary
As per Market Research Future Analysis, the Agricultural Biotechnology Market was valued at USD 227.91 Billion in 2023 and is projected to grow to USD 490.11 Billion by 2032, with a CAGR of 8.90% from 2024 to 2032. The market is driven by the increasing cultivation of biotech crops and significant investments in agricultural R&D. The US leads in biotech crop cultivation, while Europe faces challenges due to regulatory restrictions. The market is segmented by crop type, application, and technique, with soybean, maize, and cotton being key crops. The Americas dominate the market, followed by Asia-Pacific, which is the fastest-growing region.
Key Market Trends & Highlights
The agricultural biotechnology market is experiencing rapid growth due to various factors.
- Global agricultural biotechnology market size in 2023: USD 227.91 Billion.
- Projected market size by 2032: USD 490.11 Billion.
- CAGR during 2024-2032: 8.90%.
- US biotech crop area in 2017: 75 million hectares, covering 40% of global plantings.
Market Size & Forecast
2023 Market Size: USD 227.91 Billion
2024 Market Size: USD 247.77 Billion
2032 Market Size: USD 490.11 Billion
CAGR (2024-2032): 8.90%.
Major Players
Arcadia Biosciences (US), Thermo Fisher Scientific (US), Bayer AG (Germany), Biocentury Transgene Co., Ltd (China), Vilmorin & Cie (France), Eurofins Scientific (Luxembourg), LGC Biosearch Technologies (US), Corteva Agriscience (US), Dr. Chip Biotech Inc. (Taiwan), Evogene Ltd (Israel), Yield10 Bioscience, Inc. (US).
The agricultural biotechnology market has been identified as one of the fastest-growing industries, owing to the increasing cultivation of biotech crops across the globe and high investment in agriculture research and development. Agricultural biotechnology plays a vital role in increasing the resistance of plants towards a harsh environmental condition or any disease. It is also improving agriculture productivity. The demand for agricultural biotechnology is increasing due to the increasing cultivation of biotech crops across the globe. This factor is expected to fuel the growth of the global Nano biotechnology market. However, the unfavorable scenario of the cultivation of genetically engineered crops in Europe is anticipated to hamper market growth.
Agricultural Biotechnology Market Trends
The rapid adoption of biotech crops in industrial and developing countries helps to support the substantial growth of the market. The cultivation of biotech crops is increasing across the globe due to its benefits to the environment and the improvement of the economic conditions of farmers. According to the International Service for the Acquisition of Agri-biotech Applications, in 2017, the global area of biotech crops reached 189.8 million hectares compared to 185.1 million hectares in 2016. The increasing cultivation of biotech crops will support the growth of the market during the forecast period.
Similarly, The US is a leading region in the form of a large area of cultivation of biotech plants. As stated by the International Service for the Acquisition of Agri-biotech Applications in 2016, biotech crops in the US were planted in 72.9 million hectares whereas, 70.9 million hectares in 2015. Similarly, in Brazil, biotech crops were planted in 49.1 million hectares in 2016, whereas 44.2 million hectares in 2015. The increasing cultivation of biotech plants will support the growth of the market during the forecast period.
Moreover, more than 70 countries adopted the cultivation of biotech crops. The US, Argentina, Canada, Brazil, and India collectively occupied almost 91% of the global biotech crop area.
Agricultural Biotechnology Market Segment Insights
Global Agricultural Biotechnology Industry has been divided based on crop Type, Application, And Technique.Â
Agricultural Biotechnology Crop Type Insights
The market, based on crop type, has been segregated into soybean, maize, cotton, and others.Â
Agricultural Biotechnology Application Insights
Based on the application, the agricultural biotechnology market has been divided into herbicide tolerance, stacked traits, insect tolerance, and others.Â
Agricultural Biotechnology Technique Insights
On the basis of technique, it is bifurcated into genetic engineering, molecular breeding, molecular diagnostics, and tissue culture.
Agricultural Biotechnology Regional Insights
Global Agricultural Biotechnology Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is likely to dominate the global agricultural biotechnology industry. Continuous growth in the adoption of biotech crops in this region would drive the growth of the agricultural biotechnology market in this region. As per the 2017 study published by the International Service for the Acquisition of Agri-biotech Applications (ISAAA), the US was the top producer of biotech crops globally, which planted crops in 75 million hectares in 2017, covering 40% of the global biotech crop plantings. Brazil held the second-largest position, with 50.2 million hectares or 26% of the global output.
Asia-Pacific is estimated to be the fastest-growing region in the global market. This is due to the high production of biotech crops and favorable government initiatives for agricultural biotechnology research. According to the 2017 report published by the International Service for the Acquisition of Agri-biotech Applications (ISAAA), India planted 11.4 million hectares of biotech crop in 2017 which was a 5.6% increase from 10.8 million hectares in 2016.
Europe held a less share in the global agricultural biotechnology market. This can be attributed to the unfavorable scenario of the cultivation of genetically engineered crops in Europe. According to the 2018 annual report published by the USDA Foreign Agricultural Service, Europe does not export any genetically engineered products, but it imports more than 30 million metric tons of soybean products, 2.5 to 4.5 million metric tons of rapeseed products, and 10 to 15 million metric tons of corn products, per year, mainly for feed.
The agricultural biotechnology market in the Middle East & Africa is expected to witness steady growth during the review period due to limited access and healthcare affordability among the population. The rising adoption of genetically engineered food products is expected to drive market growth during the assessment period.
Key Players
- Biocentury Transgene Co., Ltd (China)
- LGC Biosearch Technologies (US)
- Corteva Agriscience ( US)
- Dr. Chip Biotech Inc. (Taiwan)
- Yield10 Bioscience, Inc. (US).
Agricultural Biotechnology Market Segmentation
Agricultural Biotechnology Crop Type Outlook
Agricultural Biotechnology Application Outlook
Agricultural Biotechnology Technique Outlook
Agricultural Biotechnology Region Outlook
Available Additional Customizations
- Additional 5 Company Profiles
Intended Audience
Agricultural Biotechnology Market Industry Developments
- Q2 2024: Bayer and Pairwise Announce Strategic Collaboration to Accelerate Gene-Edited Crop Development Bayer and U.S.-based agbiotech firm Pairwise entered a multi-year partnership to advance gene-editing technologies for developing new varieties of corn, soy, wheat, cotton, and canola using CRISPR, aiming to improve crop yields and resilience.
- Q2 2024: Corteva Acquires Spanish Biotech Startup GreenLeaf Genetics Corteva announced the acquisition of GreenLeaf Genetics, a Spanish startup specializing in drought-resistant gene-edited crops, to expand its portfolio of climate-resilient seed technologies in Europe and Latin America.
- Q2 2024: Syngenta Opens New Agricultural Biotechnology Research Center in Singapore Syngenta inaugurated a state-of-the-art research facility in Singapore focused on developing next-generation genetically engineered crops and biological crop protection solutions for the Asia-Pacific market.
- Q3 2024: BASF Launches First Commercial RNAi-Based Biopesticide for Soybean Farmers in Brazil BASF introduced a new RNA interference (RNAi) biopesticide targeting major soybean pests, marking the first commercial launch of this technology in South America after receiving regulatory approval from Brazilian authorities.
- Q3 2024: U.S. EPA Approves Pivot Bio’s Microbial Nitrogen Product for Corn Pivot Bio received regulatory approval from the U.S. Environmental Protection Agency for its microbial nitrogen fertilizer, enabling commercial sales to U.S. corn growers seeking sustainable alternatives to synthetic fertilizers.
- Q3 2024: Indigo Ag Raises $250 Million in Series E Funding to Expand Biologicals Platform Indigo Ag secured $250 million in new funding to accelerate the development and commercialization of its microbial seed treatments and biostimulants, with a focus on improving crop yields and soil health.
- Q4 2024: Corteva and Benson Hill Announce Partnership to Develop High-Protein Soybeans Corteva and Benson Hill entered a strategic partnership to co-develop and commercialize high-protein soybean varieties using advanced gene-editing and breeding technologies, targeting the plant-based protein market.
- Q4 2024: China Approves First Domestic CRISPR-Edited Rice for Commercial Planting Chinese regulators granted approval for the commercial cultivation of a CRISPR-edited rice variety developed by a local agbiotech firm, marking a milestone for gene-edited crops in the country.
- Q1 2025: Bayer Appoints New Head of Crop Science Division Bayer announced the appointment of Dr. Maria Schmidt as the new global head of its Crop Science division, overseeing the company’s agricultural biotechnology and seed businesses.
- Q1 2025: Lavie Bio Opens New Microbial Product Manufacturing Facility in Israel Lavie Bio, a subsidiary of Evogene, opened a new manufacturing facility dedicated to producing microbial-based crop protection and enhancement products, expanding its production capacity to meet growing global demand.
- Q2 2025: Syngenta and Ginkgo Bioworks Sign Multi-Year Collaboration for Synthetic Biology in Agriculture Syngenta and Ginkgo Bioworks announced a multi-year collaboration to develop synthetic biology solutions for crop protection and yield enhancement, leveraging Ginkgo’s cell programming platform.
- Q2 2025: U.S. FDA Grants Approval for Calyxt’s High-Oleic Soybean Oil for Food Use The U.S. Food and Drug Administration approved Calyxt’s gene-edited high-oleic soybean oil for use in food products, paving the way for commercial sales to food manufacturers.
Report Attribute/Metric |
Details |
Market Size 2023 |
227.91 (USD Billion) |
Market Size 2024 |
247.77 (USD Billion) |
Market Size 2032 |
490.11 (USD Billion) |
Compound Annual Growth Rate (CAGR) |
8.9 % (2024 - 2032) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Base Year |
2023 |
Market Forecast Period |
2024 - 2032 |
Historical Data |
2019 - 2023 |
  Geographies Covered |
  North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
  Key Vendors |
  Arcadia Biosciences (US)., Thermo Fisher Scientific (US), Bayer AG (Germany), Biocentury Transgene Co., Ltd (China), Vilmorin & Cie (France), Eurofins Scientific (Luxembourg), LGC Biosearch Technologies (US), Corteva Agriscience ( US), Dr. Chip Biotech Inc. (Taiwan), Evogene Ltd (Israel), and Yield10 Bioscience |
  Key Market Opportunities |
  Agriculture productivity |
  Key Market Drivers |
· Adoption of biotech crops· High investment in agriculture research and development |
Agricultural Biotechnology Market Highlights:
Frequently Asked Questions (FAQ):
The Agriculture biotechnology market can expand at 8.90%CAGR by 2032.
By 2032, the agriculture biotechnology market value can be above USD USD 490.11 Bn.
LGC Biosearch Technologies (US), Eurofins Scientific (Luxembourg), and Corteva Agriscience (US) are some reputed names in the agriculture biotechnology market.
The increase in sales of herbicide tolerance can promote the agriculture biotechnology market.
Deterioration of climatic condition can restrain agriculture biotechnology market.