Forecast: Global Agri-biotech Market Size to Grow Significantly in the Next 4 Years
Technavio reports that the globa 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.