As per our research report, the North America Agricultural Biotechnology Market size is estimated to be growing at a CAGR of 10.6% from 2023 to 2030.
The COVID-19 pandemic has had a conflicting effect on the agricultural biotechnology market in North America. One way it increased interest in biotechnology solutions was by highlighting the significance of resilient and sustainable agriculture practices. The importance of technology that can increase crop yields and guard against pests and diseases was highlighted by the necessity to provide food security during times of crisis. However, the market faced difficulties due to supply chain interruptions, labor shortages, and economic concerns. While there was still a high demand for agricultural biotechnology, distribution and uptake of biotech products in North America and elsewhere were hampered by logistical problems during the pandemic, according to a report by the International Service for the Acquisition of Agri-Biotech Applications (ISA). Regulatory agencies also modified several timetables and practices to account for pandemic-related limitations, which had an impact on the regulatory procedures for biotech goods. The long-term effects of COVID-19 on the North American Agricultural Biotechnology Market are still being closely watched as the situation develops, with innovation and resiliency serving as the primary forces behind adaptation to the shifting environment.
The demand for food has significantly increased as a result of urbanization, changing dietary habits, and an expanding worldwide population. By increasing agricultural yields and raising the nutritional value of foods, agriculture biotechnology is essential in supplying this need. According to UN estimates, there will be 9.7 billion people on the earth by 2050. Food production must expand by almost 70% to fulfill this need. Genetically modified (GM) crop types, for example, have demonstrated improved yields and resistance to pests and diseases, helping to enhance food supply. For instance, GM maize types have occasionally shown yield gains of up to 25%.
Agriculture will face substantial problems as a result of climate change, including unpredictable weather, droughts, and an increase in pests and diseases. By creating crops that are more resistant to these problems, agricultural biotechnology helps to safeguard food production in a changing environment. For instance, the National Oceanic and Atmospheric Administration (NOAA) warns that extreme weather events, such as droughts, floods, and heat waves, are becoming more frequent in North America. Companies involved in biotechnology have been developing crop types that can withstand heat and drought. These advancements can support crop yield protection, crop failure risk reduction, and food security.
Navigating complicated and dynamic regulatory regimes for genetically modified organisms (GMOs) and other biotechnological goods is one of the biggest problems in the North American agriculture biotechnology business. The creation and marketing of biotech crops may be hampered by stringent laws, labeling specifications, and public scrutiny. The GMO labeling laws in the United States vary from state to state, making the business environment for biotech firms challenging. Additionally, the process of getting regulatory clearance for novel biotech goods can be time-consuming and expensive.
It can be difficult to change how the general public views genetically modified organisms (GMOs) and other biotechnological goods. Market adoption may be impacted by unfavorable views of environmental and health risks, as well as by customer desire for organic and non-GMO products. The mood of North American consumers has been impacted by several variables. According to a 2020 Pew Research Centre study, 49% of American respondents think that eating GMOs is typically dangerous. This view may have an impact on consumer decisions and the market for goods developed from biotechnology.
Based on the technology, the market category with the biggest share was genetic engineering, which had a 25% market share. Genetic engineering has been widely used to produce genetically modified crops with varied features, such as herbicide tolerance, insect resistance, and higher nutritional content, in the North American Agricultural Biotechnology market. Rapid clonal replication, disease-free plant production, and the protection of endangered species are all made possible via tissue culture. In this market, tissue culture has a 20% market share.
Based on the application, Genetic modification is used in transgenic plants and animals to provide desirable features like higher nutritional value, disease resistance, or insect resistance. The highest market share, at around 30%, belongs to this sector. The fastest growth rate in vaccine development is predicted throughout the forecast timeframe. The necessity for developing vaccinations to protect crops and animals against emerging illnesses grows as a result of the harm they pose to their health.
Companies playing a leading role in the North America Agricultural Biotechnology market profiled in this report are Monsanto, DuPont Pioneer, Syngenta, BASF, Bayer Crop Science, and Corteva Agriscience.
Genetic Engineering
Tissue Culture
Embryo Rescue
Somatic Hybridization
Molecular Diagnostics
Vaccine Development
Transgenic Crops & Animals
Antibiotic Development
Biofuels
U.S.A.
Canada
Mexico
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