San Jose, California (PRWEB) October 11, 2012
Follow us on LinkedIn – Biotechnology is considered to be the most promising technology that can provide lasting solution to various problems ranging from food shortage to preservation of environmental resources. Worldwide, biotech industry faces major challenges such as pricing, time-consuming regulatory approvals, negative consumer attitude and lack of testing products. Over the years, there has been a steady rise in worldwide agricultural productivity, but the scope to further increase the output is beginning to level off as the potential of present production techniques is exhausted. Even as the US and other developed countries yield excess staples such as corn, rice and other grains, several other countries face considerable shortage of food and agricultural supplies. This is due to the adverse environmental conditions, which hinder growth of crops. Such problems can be tackled by using biotechnology to alter the genetic structure of crop plants, so that they survive adverse weather conditions.
In agricultural biotechnology, wide array of transgenic crops integrate genetically altered and enhanced attributes that assist plants to build resistance against particular pests. However, biotech industry faces stiff opposition from consumer and environmental bodies around the world who oppose research in this area. Various nations have set different standards regarding the amount of Genetically Modified (GM) ingredients that can be approved without pasting a label. European Union (EU) has set the most stringent limit at 0.5% and Japan with 5.0% for products including soybean tofu and corn flour. In Europe, opposition for GM foods is high and regulatory issues restrict market penetration.
Agricultural Biotechnology market is witnessing a gradual shift with the advent of technological advancements. The agricultural biotechnology domain is increasingly becoming popular worldwide as the technology provides farmers with solutions to grow plants that offer higher per-acre crop yield, resistance to insect pests and diseases, reduce production costs, and are environmentally friendly. Agricultural biotechnology is making rapid strides, with researchers developing genetically modified tomato as well as canola plants capable of tolerating salt levels to the extent of 300% more than non-genetic modified varieties. Moreover, agricultural biotechnology is proving its ability to increase production in an environmentally sustainable manner. About 90% of the farmers adopting biotech farming come from developing countries with poor resources, and the crops adopted primarily include canola, cotton, and soybeans. The US occupies the leading position in biotech crop farming in the world. Leading crops grown in the US include canola, cotton, corn and soybeans, besides alfalfa, papaya, squash, and sugar beet.
Going forward, growth in the marketplace is expected to stem from the increasing adoption of GM crops across geographies. A step in this direction is already being witnessed across various countries globally. For instance, several sub-Saharan countries in the African continent, which comprise 30% under-nourished population, are aiming at incorporating agricultural biotechnology. This effort would help to meet the requirement related to increased yields as well as limited access to adequate water supply. Additionally, consumers in India, South Korea, China, Japan, and the Philippines are showing growing penchant for high quality food, thereby accepting food grown utilizing agricultural biotechnology. Genetically produced golden rice, which is considered to enhance nutrition in developing countries, is expected to be accessible to farmers in the near future. Against this backdrop, agricultural biotechnology is growing rapidly and transforming agricultural research policy, industry structure, manufacture and marketing, consumer preference and global food demand. However, complete realization of agricultural biotechnology revolution is directly related to sustained, successful and innovative R&D activities and regulatory climate.
As stated by the new market research report on Agricultural Biotechnology, the US represents the largest market worldwide. However, Asia-Pacific region offers the highest growth potential owing to increasing adoption of biotech crops in various countries in the region. Transgenic Seeds/Crops represents the largest product group, while Cotton offers the highest growth potential.
Major players in the global marketplace include Bayer CropScience AG, Certis USA LLC, Dow AgroSciences LLC, Mycogen Seeds, Emerald BioAgriculture Corporation, Makhteshim-Agan Industries Ltd., Monsanto Company, Performance Plants Inc., Pioneer Hi-Bred International Inc., and Syngenta AG.
The research report titled "Agricultural Biotechnology: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions, regulatory environment, and other strategic industry activities. The report provides market estimates and projections for Agricultural Biotechnology (in US$ million) by Transgenic Seeds/Crops (Soybean, Corn, Cotton, and Others), and Biopesticides product groups. Geographic markets analyzed include the United States, Canada, Asia-Pacific, Latin America, and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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