Agri-biotech Global Market May Reach US$39.5B in 2022August 16, 2017
The global agricultural biotechnology market is projected to have a 10.1 percent compound annual growth rate from 2015 to 2022, which may reach US$39.5 billion by 2022. This is according to the report released by HTF Market Intelligence Consulting titled Agricultural Biotechnology – Global Market Outlook (2016-2022).
The report analyzed the market trends in North America, Europe, Asia-Pacific, and the rest of the world. They also looked at the performance of important players in the industry. It aims to provide insights on current and future trends, focusing on growth prospects for forecast period of 2016-2022.
According to the report, the growth of the agri-biotech market is driven by increased capital inflow and investments for industry participants, as well as research and development in the Asia-Pacific and African regions. However, stringent government regulations and resistance to biotech crops may slow down the growth of the market.
Get more information from HTF Market Intelligence.