Growing Demand for Food, Fuel Drives Global Agricultural Biotechnology Market
January 20, 2016| |
A new study published by Transparency Market Research (TMR) titled Agricultural Biotechnology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019, reports that the global agricultural biotechnology market was worth US$15.3 billion in 2012, and is expected to double by 2019, growing at a 9.5% CAGR from 2013 to 2019.
According to the report, the growing global population has led to the increased demand for genetically modified (GM) crops. Increasing demand for biofuels due to depleting reserves of conventional fuels is further boosting the agricultural biotechnology market. It also states that the benefits of GM crops such as higher yield, resistance to pests, longer shelf life, and high nutritional value, make them widely accepted both in developed and developing countries.
The report notes that North America has faster adoption of GM crops, therefore dominating the global agricultural biotechnology market. Europe has a substantial consumption of GM crops for animal feed, imported from the U.S. and Brazil.
For more details about the report, read the news release at the TMR website.
| |
Biotech Updates is a weekly newsletter of ISAAA, a not-for-profit organization. It is distributed for free to over 22,000 subscribers worldwide to inform them about the key developments in biosciences, especially in biotechnology. Your support will help us in our mission to feed the world with knowledge. You can help by donating as little as $10.
-
See more articles:
-
News from Around the World
- Global Pipeline of GM Crops out to 2020
- Growing Demand for Food, Fuel Drives Global Agricultural Biotechnology Market
- Researchers Discover Core Set of Genes for Plant-Fungal Symbiosis
- Draft Lentil Genome Assembly Released
- FDA Approves Second Generation Innate® Potatoes
- Modifying the Structure of Wood Alters Plant Microbiome
- VIB Researchers Discover New Mechanism for Root Development
-
Research Highlights
- Wall-Associated Kinases Participate in Defense Against Rice Blast
- WOX Genes Function in Protoderm and Suspensor Development in Norway Spruce
- The Recessive Allele in the Soybean Maturity Locus E9 Causes Delayed Flowering
-
Beyond Crop Biotech
- Pioneering Study Helps Fight Against Ash Dieback
- Enhanced Free Fatty Acid Production of Synechocystis sp. by Deletion of the CyAbrB2
- MicroRNA-150 Promotes Cervical Cancer by Targeting FOXO4
-
Announcements
- Plant Genes and "Omics": Technology Development
-
Resources
- ISAAA in 2015
-
Read the latest: - Biotech Updates (April 24, 2024)
- Gene Editing Supplement (April 24, 2024)
- Gene Drive Supplement (February 22, 2023)
-
Subscribe to BU: - Share
- Tweet