The global market for agricultural biotechnology is estimated to increase from $79.9 billion in 2023 to reach $119.6 billion by 2028, at a compound annual growth rate (CAGR) of 8.4% from 2023 through 2028.
These companies have been at the forefront of agricultural biotechnology, contributing innovations that aim to address global food security challenges, enhance crop productivity, and develop more sustainable agricultural practices.
The agricultural biotechnology business is at the forefront of meeting the world's expanding food demand, as well as addressing sustainability and agricultural efficiency. It is technical improvements and genetic advances that fuel it fueled by technical improvements and genetic advances. The demand for increased crop yields, environmental sustainability, and climate change resilience drives the industry's expansion. It is leading businesses like Bayer Crop Science, Syngenta, Corteva Agriscience, BASF Plant Science, and Monsanto (now a subsidiary of Bayer) play critical roles in creating the sector. They create genetically modified seeds, novel traits, and digital solutions to boost crop productivity and handle modern agriculture's difficulties. Agriculture biotechnology is critical to global food security and sustainable farming practices. Its future holds the potential for sustained expansion, innovation, and adaptability to meet changing needs.
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