Agricultural Biotechnology Industry is Led by North America

NEW YORK - May 16, 2023 - PRLog -- The agricultural biotechnology market will grow at a rate of 10.7% in the years to come, and reach USD 106,870 million by 2030.

The industry will increase because of the growth in the requirement for new breeding procedures, for example plant grafting, genomic sciences, genetic engineering, and plant molecular breeding. This is due to the increasing use of biotech to produce or modify traits of creatures-as well as animals, plants, and microbes-with regards to color, yield, or size.

Biofuel sources mostly comprise crops for example corn, soybean, wheat, and sugarcane, but organic waste material can also be used as a potential feedstock. The growing requirement for biofuels around the world can credited to the fact that they burn cleaner than conformist fossil fuels and release fewer pollutants and GHG, like CO2, into the atmosphere.

North America was the leader of the agricultural biotechnology market led the industry in the past. This is majorly credited to the growing acceptance of GM crops, as stated by one of the reports by a market research institution, P&S Intelligence.

The growing population is powering the demand for food products and thus the dependence on agricultural biotech. As per the UN Department of Economic and Social Affairs, the population of the world, was more than 7.7 billion in 2019.

Browse detailed report on Agricultural Biotechnology Market Demand and Forecast Report 2030 (https://www.psmarketresearch.com/market-analysis/agricult...)

Moreover, till 2050, half global population growth will be in China, India, Nigeria, Congo, Ethiopia, Pakistan, the U.S., Indonesia, Tanzania, and Uganda.

The growing population around the world will positively impact the demand for agricultural biotech in the years to come.