The global genetic engineering in agriculture market is poised for significant growth, with an expected Compound Annual Growth Rate (CAGR) of 6.5% during the period from 2023 to 2030. By the conclusion of this period, the market is projected to attain a value of approximately US$1.5 billion.
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Genetic engineering in agriculture, powered by recombinant DNA (rDNA) technology, is reshaping the genetic makeup of crops to meet the increasing demands of a global population expected to surpass 9 billion by 2050. This innovative technology offers a multitude of benefits, including increased crop yields, reduced food production costs, decreased reliance on pesticides, improved nutritional content, and enhanced food quality. Additionally, it enhances food security and strengthens crop resilience against pests and diseases, making it a crucial solution to address the challenges posed by a growing global food demand.
Rising Food Demand: The surge in global food demand, driven by population growth, serves as a major driver for genetic engineering in agriculture. With limited arable land and climate change threats, genetically modified crops offer a viable solution to increase food production.
Biotechnology Advancements: Advances in biotechnology, especially the precision gene-editing capabilities of CRISPR-Cas9, have revolutionized genetic engineering, making it more efficient, cost-effective, and accessible. These advancements expedite the development and adoption of genetically modified crops.
North America Dominance: North America's dominance in the genetic engineering in agriculture market is attributed to its access to cutting-edge research facilities, rapid adoption of genetic editing techniques, global food demand, and growing acceptance of genetically modified crops.
Asia Pacific Growth: The Asia Pacific region is set to experience significant market expansion due to increased crop productivity, advancements in agricultural technology, expansion of the agricultural sector, substantial investment in research and development, and the presence of major biotechnology companies.
Prominent players in the genetic engineering in agriculture market include Eurofins Scientific, Illumina, Inc., Keygene, Agilent Technologies, Qiagen N.V., Neogen Corporation, Nrgene, Traitgenetics GmbH, Novogene Corporation, and Oxford Nanopore Technologies.
Browse Global Genetic Engineering in Agriculture Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Technique Coverage, By Application Coverage, By End Use Coverage, By Geographic Coverage, and By Company): https://www.fairfieldmarketresearch.com/report/genetic-engineering-in-agriculture-market
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