Food Biotechnology Market Size, Growth, and Forecast to 2029| ABS Global, AquaBounty Technologies, DuPont Pioneer

Market Overview:
Global Food Biotechnology market was estimated at USD 29.51 billion in 2021, and is anticipated to reach USD 58.24 billion by 2028, growing at a CAGR of 10.2%.

Food biotechnology refers to the manufacturing and processing of food products with the help of modern biotechnological techniques. Other food ingredients and food additives are also developed or improved using these processes. Food Biotechnology includes the newer forms of food biotechnology that offer a faster and more precise means to develop food products.

Food Biotechnology is been there for so long, the Past food biotechnology techniques included conventional crossbreeding, which refers to the random recombination of genes through sexual reproduction leading to a new organism with improved traits. But, modern food biotechnology techniques include connecting two pieces of DNA from different organisms leading to a single piece of DNA. In this process, Individual genes are transferred from one organism to another in order to improve the nutrient levels of food, for example, fortifying a fruit or vegetable. Many food products can be developed through food biotechnology including corn varieties containing a bacterial gene that kills insects and soybeans inserted with a gene that renders them resistant to weed killers such as Roundup. Food biotechnology is aimed to make food more cost-effective and many players have promised to provide safer food as it reduces the number of pesticides or chemicals used in growing specific food items.

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Market Dynamics:
Driver:
The demand for food biotechnologists is rapidly increasing due to the evolution of new products and technologies in the market every day. Moreover, the increasing implementation of advanced technologies to develop new products by modifying plants' and animals' genes to provide innovative food solutions is driving the market growth further.

Opportunities:
Increasing investments in R&D in food biotechnology by organizations and funding from government authorities are expected to boost the market growth in the upcoming period. Further, technological advancements have highly helped in increasing the yield of crops along with improving shelf life, nutritional value, and pest resistance attribute which is supporting the shifting trends towards healthy lifestyles which are generating new growth opportunities for the food biotechnology market players.

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Market Segmentation
Based on Product Type, transgenic crops are projected to dominates the market due growing demand for genetically improved crops to increase the productivity in low producing or harsh climate conditions will turn the market growth.

Based on Application, animal segment holds largest share. Growing necessity to increase milk production in dairy cattle with rising demand will boost industry expansion.

By Product Type
• Transgenic Crops
• Synthetic Biology Derived Products

By Application
• Animal
• Plants
• Microorganisms

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Regional Analysis:
North America region is projected to dominates the market. Growing investments on technological advancements coupled with high consumer spending on enriched products will augment the industry share. The U.S. is the highest producer of genetically modified crops around 75 million hectares area for biotech crops. In addition, being presence of large multinational corporations, growing private and government R&D investments, supported by effective government policies will accelerate the market growth. Moreover, positive application outlook of genetically modified yeast in developing new alcoholic beverages will helps to regional growth.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Food Biotechnology market are :
• ABS Global
• Arcadia Biosciences
• AquaBounty Technologies
• BASF Plant Science
• Bayer CropScience AG
• Camson Bio Technologies Ltd
• Dow AgroSciences LLC
• DuPont Pioneer
• Evogene Ltd
• Hy-Line International
• KWS Group
• Monsanto
• Origin Agritech Limited
• Syngenta AG And Majore Key Players.

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Key Industry Developments:
In June 2019, Advanced Instruments LLC collaborate with LA biosystems with an aiming to support the growth of biotechnology, microbiology and other technologies applied in food and beverages industry. The companies are committed to offering high quality products and adequate service and support in the food biotechnology market.

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