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Food Biotechnology Market Trends

Report ID: GMI3334
Published Date: Sep 2023
Report Format: PDF

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Food Biotechnology Market Trends

The rising prominence of precision agriculture technologies to incorporate biotechnology, data analytics, and sensors in optimizing farming practices, conserving resources, and improving crop yields will outline the enhanced industry size. Precision agriculture allows farmers to utilize crop inputs more effectively through seeds/seedlings, farm equipment, pesticides, fertilizers, and irrigation water. To that end, the growing popularity of digital farming and plant genome editing will contribute to the market development.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The market size of food biotechnology is set to grow at over 10% CAGR from 2023 to 2032, due to the surging popularity of plant-based products and the shifting inclination to alternative protein sources.

Transgenic food biotechnology segment is slated to record substantial traction between 2023 and 2032, attributed to the higher need for genetically modified crops for enhancing the productivity in low producing and harsh climatic conditions.

Asia Pacific market size is projected to witness 11% CAGR from 2023 to 2032, owing to the rising interest in functional foods and nutraceuticals driven by the shifting trend towards healthy lifestyles.

Some of the major food biotechnology firms include BASF SE, Bayer CropScience AG, AquaBounty Technologies, ABS Global, Dow AgroSciences LLC, Arcadia Biosciences, Camson Bio Technologies Ltd, BDF Ingredients Zuchem, and Monsanto.