Global Food Biotechnology Market: Introduction
The global food biotechnology market has been witnessing a significant surge in its valuation, thanks to continuous technological advancements in this field. With the increasing population, the need for better yield of food crops has augmented drastically. This, in turn, is boosting the global to a great extent.
In this research report, a thoroughly evaluated assessment of the global food biotechnology market has been presented using quantitative and qualitative analysis techniques. It has assessed the market’s performance over the period from 2018 to 2026 on the basis of the key trends and market dynamics. It also offers precise analyses of the main segments and each of the regional food biotechnology markets across the world.
Global Food Biotechnology Market: Notable Developments
Advanced Instruments LLC and LA biosystems entered into a partnership in June 2019 with an aim to support the growth of the biotechnology, microbiology, and various other technologies, used in the food and beverage domain. Both the companies are committed towards providing high quality products and efficient services and support in these markets.
After eight years of research at National Agri-Food Biotechnology Institute (NABI) in Mohali, India, three variants of wheat in different colors, that is, blue, black, and purple, have been harvested for consumption.
The key players in the global food biotechnology market are BASF SE, AquaBounty Technologies, Bayer CropScience AG, ABS Global, Arcadia Biosciences, Dow AgroSciences LLC, BDF Ingredients Zuchem, Camson Bio Technologies Ltd., and Monsanto. These players are likely to be involved in mergers, acquisitions, and strategic partnerships to gain a strong foothold in the global market over the years to come.
Global Food Biotechnology Market Dynamics
Rising Need to Improve Yield And Quality of Food Products to Support Growth
The global food biotechnology market is mainly driven by the rising need for the improvement of the yield and quality of the edible items by modifying the genes. The development of the food and beverages industry, increase in disposable incomes, rise in population, and upsurge in health awareness are some of the key factors that are likely to a long-term positive impact on this market. The increasing efforts of food manufacturers to introduce biotechnological innovations in products is expected to offer lucrative opportunities for the growth of their business in the coming years, thereby boosting the global market.
Asia Pacific to Report Faster Growth
In terms of the region, the food biotechnology market in Asia Pacific has been leading the global market. Asian economies, such as India, China, and Japan, are reporting a significant rise in their domestic food biotechnology markets due to the advancements in technologies. The rising demand dietary supplements, owing to the ongoing shift of consumers towards healthy lifestyles, is thereby, influencing the demand for nutritional ingredients. This, in turn, is reflecting greatly on the food biotechnology market in this region.
Going forward, the innovations in products supported by the increase in consumer disposable income, is expected to drive the demand for biotechnology solutions for health supplements. Moreover, the necessity to boost the agricultural yield, due to the rising population and severe climatic changes, is also expected to propel this regional market in the years to come.