Agricultural Biotechnology Market to Surge at 7.86% CAGR, Driven by Technological Advances
The global agricultural biotechnology market, valued at USD 111 billion in 2022, is projected to reach approximately USD 232 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.86% during the forecast period. This growth is driven by several key factors, including the increasing adoption of genetically modified (GM) crops, advancements in gene editing technologies like CRISPR, and the rising demand for sustainable agricultural practices to meet the food needs of a growing global population. Innovations such as marker-assisted selection (MAS) are enhancing crop yields and nutritional value, which is crucial for addressing food security challenges. However,…
- Date: May 28, 2024
- Author: Robert Shaw
- Category: PharmiWeb