The forecast for the Global Agricultural Biotechnology Market indicates that it will reach USD 31.99 billion by 2027. The market's growth is primarily driven by the significant increase in population and the high demand for sufficient crop production. Factors such as crop loss, the need for higher crop yields, consumer demand for sustainably produced food, and the challenges posed by climate change and global pandemics are contributing to the growing relevance and adoption of Agricultural Biology across various industries.
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Agrochemical farms are also investing in research and development to offer innovative product solutions. They are also forming partnerships with other companies to expand their product offerings. The global market is characterized by the participation of competitors who employ different strategic approaches to gain a significant market share. Companies are introducing new agricultural microbial products that promote natural crop growth. New entrants into the industry will likely focus on innovation and advanced technologies to simplify operations and reduce costs.
The COVID-19 pandemic has had a direct impact on the growth rates of Agricultural Biology. Manufacturers are adapting their practices and priorities to meet the demands of the crisis. Disruptions in the supply chain have led to the establishment of new, more expensive supply chains, resulting in increased activity in the biotechnology sector.
Type Outlook (Revenue, USD Billion; 2017-2027):
Crop Type Outlook (Revenue, USD Billion; 2017-2027):
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Turf and Ornamentals
Mode of Application Outlook (Revenue, USD Billion; 2017-2027):
- Foliar Spray
- Soil Treatment
- Seed Treatment
Application Outlook (Revenue, USD Billion; 2017-2027):
- Crop Fertility
- Crop Growth Enhancer
- Crop Control Protection
Regional Outlook (Revenue, USD Billion; 2017-2027):
- North America (U.S.)
- Europe (U.K., France)
- Asia Pacific (China, India, Japan)
- Latin America (Brazil)
Agricultural Biology Market: Notable Innovation
Some notable innovations in the Plant Biology Market include:
- Biological Crop Protection Products: The development of biological crop protection products has gained significant attention in recent years. These products utilize beneficial microorganisms, such as bacteria, fungi, and viruses, to control pests and diseases. They offer effective pest management while reducing the reliance on chemical pesticides.
- Precision Agriculture Technologies: Precision agriculture technologies integrate digital solutions, data analytics, and sensors to optimize agricultural practices. These technologies enable farmers to monitor and manage crop growth, soil conditions, irrigation, and nutrient application with precision. They enhance productivity, reduce resource wastage, and improve overall farm efficiency.
- Plant Biostimulants: Plant biostimulants are substances that stimulate plant growth, nutrient uptake, and stress tolerance. They are derived from natural sources, such as seaweed extracts, humic substances, and beneficial microorganisms. Plant biostimulants enhance crop productivity and resilience, particularly under challenging environmental conditions.
- Vertical Farming and Controlled Environment Agriculture: Vertical farming and controlled environment agriculture (CEA) technologies enable year-round crop production in indoor environments. These systems utilize artificial lighting, climate control, and hydroponic or aeroponic cultivation methods. They offer increased productivity, efficient resource utilization, and reduced dependency on external factors like weather and land availability.
- Digital Farming Platforms: Digital farming platforms integrate data analytics, artificial intelligence, and machine learning to provide real-time monitoring and decision support for farmers. These platforms collect and analyze data from various sources, including sensors, satellites, and weather forecasts. They help optimize farm management, resource allocation, and crop protection strategies.
- Microbiome-based Crop Solutions: Microbiome-based crop solutions focus on harnessing the beneficial interactions between plants and their associated microbiomes. By understanding and manipulating plant-microbe interactions, these solutions enhance nutrient uptake, disease resistance, and stress tolerance in crops.
These innovations in agricultural biology contribute to sustainable and efficient farming practices, improved crop productivity, and reduced environmental impact. They offer promising solutions to address the challenges faced by the agriculture industry and meet the increasing global food demand.
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