- In June 2024, IPL Biologicals, in collaboration with Punjab Agricultural University, launched a new bio-fungicide called Agenor. This product is specifically designed to address the challenges faced by paddy farmers, such as fungal infections that threaten crop yields. Agenor exemplifies the growing trend toward bio-based agricultural solutions that promote sustainability and efficacy in pest management, reinforcing IPL Biologicals' commitment to innovative agricultural practices
- In May 2024, Syngenta's ADEPIDYN technology, a powerful fungicide, received approval in over 55 countries, reflecting its strong global demand among farmers. This innovative product effectively addresses fungal diseases while promoting sustainable crop protection. Syngenta anticipates that ADEPIDYN will achieve sales of one billion US dollars within the next eight years, underscoring its success and reinforcing the company’s leadership in agricultural technology and sustainable innovations
- In May 2024, Fermbox Bio launched EN3ZYME, a cellulose enzyme cocktail aimed at revolutionizing the transformation of agricultural waste into second-generation (2G) ethanol. This innovative product is designed to improve the cost-effectiveness and efficiency of converting pre-treated agricultural residues into fermentable sugars, thereby enhancing bioethanol production. This development not only supports sustainability in agriculture but also advances the synthetic biology sector's capabilities in renewable energy
- In October 2023, BASF announced a significant investment in a new fermentation plant at its Ludwigshafen site, with a high double-digit million euro amount dedicated to this project. Set to be operational in the latter half of 2025, the facility will focus on producing biological and biotechnology-based crop protection products. This strategic move aims to enhance BASF’s portfolio to meet the rising demand for sustainable agricultural solutions
- In September 2023, The ISAAA Inc. organized a study launch in the Philippines titled "Public Perception of Agricultural Biotechnology." This initiative aims to assess the understanding and attitudes of the public towards agricultural biotechnology, a critical area influencing the acceptance of modern farming techniques. By gathering insights, the study seeks to foster informed discussions and enhance stakeholder engagement in the biotechnology sector to support agricultural innovation
Frequently Asked Questions
The market is segmented based on Segmentation, By Product Type (Crop protection products, Transgenic Seeds, and Synthetic Biology-Enables Products), Trait Type (Stacked, Herbicide-tolerant, Insect-resistant, and Desirable and Virus-resistant), Organisms (Plants, Animals, and Microbes), Application (Vaccine Development, Transgenic Crops and Animals, Antibiotic Development, Nutritional Supplements, Flower Culturing, and Biofuels), Technology (Genome Editing, Synthetic Biology, Genetic Engineering, Marker-assisted Breeding, Plant Breeding, Germplasm, and Other Technologies) – Industry Trends and Forecast to 2031
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The Global Agricultural Biotechnology Market size was valued at USD 151.06 USD Billion in 2023.
The Global Agricultural Biotechnology Market is projected to grow at a CAGR of 10.94% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
