Biotech Updates

Forecast: Global Agri-biotech Market Size to Grow Significantly in the Next 4 Years

January 9, 2019

Technavio reports that the global agricultural biotechnology market will grow by almost USD 21.2 billion during 2018-2022. In the report published in December 2018, Technavio, a market research company that has published reports on major technology markets, stated that the global agricultural biotechnology market will be accelerating in the next four years, growing at an annual growth rate of almost 11 percent with 53 percent of this growth coming from the Americas. The report also identified the rising demand for higher crop yield as one of the key factors driving the growth rate.

The said report also included the analysis of the market's competitive landscape and product information on different companies including BASF, Bayer, ChemChina, DowDuPont, and Eurofins Scientific. It also provided the prediction of the contribution of the various application segments to the growth or the market size. In particular, the report predicted that the transgenic seeds segment will account for the highest share in the market due to its higher adoption in different countries.

An overview of the report is made available by Technavio.