Agricultural Biotechnology Market

As per Market Research Future Analysis, the Agricultural Biotechnology Market was valued at USD 227.91 Billion in 2023 and is projected to grow to USD 490.11 Billion by 2032, with a CAGR of 8.90% from 2024 to 2032. The market is driven by the increasing cultivation of biotech crops and significant investments in agricultural R&D. The US leads in biotech crop cultivation, while Europe faces challenges due to regulatory restrictions. The market is segmented by crop type, application, and technique, with soybean, maize, and cotton being key crops. The Americas dominate the market, followed by Asia-Pacific, which is the fastest-growing region.

Arcadia Biosciences (US), Thermo Fisher Scientific (US), Bayer AG (Germany), Biocentury Transgene Co., Ltd (China), Vilmorin & Cie (France), Eurofins Scientific (Luxembourg), LGC Biosearch Technologies (US), Corteva Agriscience (US), Dr. Chip Biotech Inc. (Taiwan), Evogene Ltd (Israel), Yield10 Bioscience, Inc. (US).

• Q2 2024: Bayer and Pairwise Announce Strategic Collaboration to Accelerate Gene-Edited Crop Development Bayer and U.S.-based agbiotech firm Pairwise entered a multi-year partnership to advance gene-editing technologies for developing new varieties of corn, soy, wheat, cotton, and canola using CRISPR, aiming to improve crop yields and resilience.
• Q2 2024: Corteva Acquires Spanish Biotech Startup GreenLeaf Genetics Corteva announced the acquisition of GreenLeaf Genetics, a Spanish startup specializing in drought-resistant gene-edited crops, to expand its portfolio of climate-resilient seed technologies in Europe and Latin America.
• Q2 2024: Syngenta Opens New Agricultural Biotechnology Research Center in Singapore Syngenta inaugurated a state-of-the-art research facility in Singapore focused on developing next-generation genetically engineered crops and biological crop protection solutions for the Asia-Pacific market.
• Q3 2024: BASF Launches First Commercial RNAi-Based Biopesticide for Soybean Farmers in Brazil BASF introduced a new RNA interference (RNAi) biopesticide targeting major soybean pests, marking the first commercial launch of this technology in South America after receiving regulatory approval from Brazilian authorities.
• Q3 2024: U.S. EPA Approves Pivot Bio’s Microbial Nitrogen Product for Corn Pivot Bio received regulatory approval from the U.S. Environmental Protection Agency for its microbial nitrogen fertilizer, enabling commercial sales to U.S. corn growers seeking sustainable alternatives to synthetic fertilizers.
• Q3 2024: Indigo Ag Raises $250 Million in Series E Funding to Expand Biologicals Platform Indigo Ag secured $250 million in new funding to accelerate the development and commercialization of its microbial seed treatments and biostimulants, with a focus on improving crop yields and soil health.
• Q4 2024: Corteva and Benson Hill Announce Partnership to Develop High-Protein Soybeans Corteva and Benson Hill entered a strategic partnership to co-develop and commercialize high-protein soybean varieties using advanced gene-editing and breeding technologies, targeting the plant-based protein market.
• Q4 2024: China Approves First Domestic CRISPR-Edited Rice for Commercial Planting Chinese regulators granted approval for the commercial cultivation of a CRISPR-edited rice variety developed by a local agbiotech firm, marking a milestone for gene-edited crops in the country.
• Q1 2025: Bayer Appoints New Head of Crop Science Division Bayer announced the appointment of Dr. Maria Schmidt as the new global head of its Crop Science division, overseeing the company’s agricultural biotechnology and seed businesses.
• Q1 2025: Lavie Bio Opens New Microbial Product Manufacturing Facility in Israel Lavie Bio, a subsidiary of Evogene, opened a new manufacturing facility dedicated to producing microbial-based crop protection and enhancement products, expanding its production capacity to meet growing global demand.
• Q2 2025: Syngenta and Ginkgo Bioworks Sign Multi-Year Collaboration for Synthetic Biology in Agriculture Syngenta and Ginkgo Bioworks announced a multi-year collaboration to develop synthetic biology solutions for crop protection and yield enhancement, leveraging Ginkgo’s cell programming platform.
• Q2 2025: U.S. FDA Grants Approval for Calyxt’s High-Oleic Soybean Oil for Food Use The U.S. Food and Drug Administration approved Calyxt’s gene-edited high-oleic soybean oil for use in food products, paving the way for commercial sales to food manufacturers.