The key factors leading to the increasing demand of agricultural biotechnology products include; the growing population size, rising per capita income, growing demand for biofuel, thriving demand for transgenic crops and regulatory support in the U.S. and Brazil.
Based on technology, the agricultural biotechnology market has been bifurcated into genome editing tools, deoxy ribonucleic acid (DNA) sequencing, ribonucleic acid interference (RNAi), synthetic biology, and biochips. Genome editing tools occupied the largest share in the global market in 2016, mainly attributable to the to increasing genome research and rising application of genomic tools in agricultural research. The vendors in this market broadly offer two types of agricultural biotechnology based products classified as, transgenic seeds and crop protection products.
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