Global Agricultural Biotechnology Market Worth $36.60 Billion by 2022: Acute Market Reports

Agricultural biotechnology is set of scientific methods and tools which can be utilized on plants or living creatures or on both of them concurrently to enhance the output of the crops. It is mainly utilized to change the sequence of genome of agricultural crops which are referred as genetically tailored or transgenic. This has helped manufacturers, peasants and customers with huge crop output and best quality of food. The global agricultural biotechnology market was evaluated at 15.29 billion USD in year 2012 and it is predicted to of worthy of amassing 36.60 billion USD by the end of year 2022 growing at a CAGR rate of 9.4% during the forecasted period from year 2013 to year 2022.

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The global agricultural biotechnology market has been divided into transgenic agricultural crops, tools and synthetic biology enabled items based upon its applications and uses. Demand for food production has grown owing to large population resulting in requirement of more food to fulfill the food requirements of the global population. This is one of the key factors contributing towards the market growth. Growing demand for biofuels due to rise in depletion of traditional resources and rising demand for transgenic crops owing to enhanced demand for food is predicted to boost the growth and expansion of agricultural biotechnology market worldwide. Large proportion of ongoing research & development in this field of agricultural biotechnology is done in the regions of Africa and Asia Pacific. This is anticipated to offer more business opportunities and growth prospects for the industry participants in the global agricultural biotechnology market. But the strong resistance to genetically tailored crops in continent of Europe is predicted to hinder the growth of the universal agricultural biotechnology market. Also the copyrights protecting market sector is likely to hinder the...