Genetic Engineering in Agriculture Market - Global Genetic Engineering in Agriculture Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Technique Coverage, By Application Coverage, By End Use Coverage, By Geogr

Genetic Engineering in Agriculture Market - Global Genetic Engineering in Agriculture Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Technique Coverage, By Application Coverage, By End Use Coverage, By Geographic Coverage, and By Company)

Global Genetic Engineering in Agriculture Market to Grow at a Significant 6.5% CAGR, Reaching US$1.5 Billion by 2030
Genetic engineering in agriculture, driven by recombinant DNA (rDNA) technology, is revolutionizing crop genetics. It offers multiple advantages such as increased crop yields, reduced production costs, decreased pesticide usage, enhanced nutritional content, and improved food quality. This technology enhances food security and crop resistance to pests and diseases. The global market for genetic engineering in agriculture is on a steady growth trajectory, driven by the expanding applications in agricultural productivity enhancement, pest and disease management, and food quality improvement.

Key Report Findings
1. Strong Market Growth: The genetic engineering in agriculture market is poised for robust growth with a CAGR of 6.5% from 2023 to 2030.
2. Growing Agricultural Applications: The use of genetic engineering to boost agricultural output, reduce pesticide dependency, protect crops against diseases, and enhance nutrient profiles and food quality is a key driver of global market growth.
3. Preference for CRISPR Technology: The CRISPR technique dominates the market, offering precise genome editing without introducing foreign DNA, lowering ethical concerns, and driving adoption.
4. Fruits & Vegetables Lead: In 2022, the fruits & vegetables category accounted for the highest market revenue share due to increased acceptance of genetically modified foods, production of GM fruits and vegetables, and improved fruit and vegetable quality.
5. North America Dominates: North America remains at the forefront of the genetic engineering in agriculture market, driven by advanced research facilities, expanding agriculture sector, quick adoption of genetic editing techniques, and growing global food demand.

Growth Drivers
Rising Food Demand: The world's population is expected to exceed 9 billion by 2050, leading to increased food demand. Genetic engineering addresses this demand by enhancing crop yields, resistance to pests and diseases, and food shelf life, ultimately contributing to food security.

Biotechnology Advancements: Advances in biotechnology, especially the development of precise gene-editing methods like CRISPR-Cas9, have transformed genetic engineering. These methods offer accuracy, efficiency, and cost-effectiveness, accelerating the development and commercialization of genetically modified crops.

Market Challenges
Ethical and Environmental Concerns: Ethical concerns surrounding the release of genetically modified crops into ecosystems and the safety of GM crops for human consumption impact their acceptance and regulation. Environmental concerns include gene flow to non-GMO crops and its effects on biodiversity.

Overview of Key Segments
CRISPR Dominance: CRISPR technology leads the market due to its precision, efficiency, and ability to make exact genetic modifications. It addresses ethical concerns by avoiding foreign DNA introduction and supports various agricultural innovations.

Fruits & Vegetables Preferred: The fruits & vegetables segment is the primary application category, driven by increased acceptance of GM foods, enhanced crop production, and improved fruit and vegetable quality.

Growth Opportunities Across Regions
North America Leads: North America continues to dominate the market, benefiting from advanced research facilities, expanding agriculture sector, quick technology adoption, and growing global food demand.
Asia Pacific Emerging: The Asia Pacific market is poised for significant growth, driven by increased crop productivity, agricultural sector expansion, research and development investments, and the presence of major biotechnology companies.

Competitive Landscape
Key players in the genetic engineering in agriculture market include Eurofins Scientific, Illumina, Inc., Keygene, Agilent Technologies, Qiagen N.V., Neogen Corporation, Nrgene, Traitgenetics GmbH, Novogene Corporation, and Oxford Nanopore Technologies.

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