Market Overview
Synthetic Biology is a field of science that seeks to redesign organisms by engineering them to possess new abilities. It merges biological research and engineering concepts to solve the existing problem regarding sustainability, food safety, and nutrition in the agriculture and food industry.
According to the MarkNtel Advisors' research report, "Global Synthetic Biology in Agriculture and Food Market Analysis, 2021," the market is likely to grow at a CAGR of around 35% during 2021-26. The market growth is accredited to the high demand for ethical, sustainable, and efficient solutions to fulfill food needs. Synthetic biology helps solve the problem of food safety and eliminates the presence of nutrition deficiency in food.
Further, burgeoning awareness regarding the benefits of nutritious food in human health and the shift of massive consumers towards using bio-based products drives lucrative growth opportunities for the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 35% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy and Others | |
| Asia-Pacific: India, Japan, Australia and Others | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: Israel, South Africa, Others | |
| Key Companies Profiled | AgBiome, Inc., Agrivida, Inc., Arzeda, Amyris, Inc., Bayer AG, Concentric Agriculture Inc., Evolva Holding SA, Pivot Bio, Inc., Benson Hill Biosystems, Inc, Cibus, Ltd, Codexis, Inc., GINKGO BIOWORKS, Twist Bioscience |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The imposition of lockdown, social distancing measures, need for isolation, and restriction on movement in the pandemic-frenzied world has affected the agriculture and food industry, both positively & negatively. The agricultural workers were required to stay at home due to lockdown, which impacted the production capacity and cross-border trading.
On the other hand, due to rising concerns for top-quality nutritious food and the requirement of advanced technologies, food safety provided profitable opportunities for the growth of synthetic biology in the agriculture and food industry.
Market Segmentation
Gene Synthesis Accounted for the Largest Market Share
Based on the Technology, the market bifurcates into Gene Synthesis, Next Generation DNA Sequencing, Genome Engineering, and Bioinformatics Technologies. In 2019, the gene synthesis technology acquired the largest share in the Global Synthetic Biology in Agriculture and Food Industry owing to its extensive use with genome engineering for efficiency and ease intargeting and editing.
Additionally, high demand for synthetic DNA and RNA in the agriculture and food industry proliferates the growth of the overall market across the globe, reveals MarkNtel Advisors in their research report "Global Synthetic Biology in Agriculture and Food Market Analysis, 2021."
Crop Yield Management Dominated the Market
Based on applications, the market segments are Crop Yield Management, Crop Protection, and Soil Health Management. The Crop Yield Management segment acquired the largest share in the Global Synthetic Biology in Agriculture & Food Markets in 2019. The use of synthetic biology in the agriculture sector offers higher crop yield and high quality of crop production.
Exhausting agricultural land and mounting demand for good quality nutritional food provide lucrative opportunities to fuel the use of synthetic biology in crop yield management, thereby fueling the overall market growth.
Regional Landscape
North America Region Attained the Largest Market Share
Globally, North America dominated the regional segment of the Global Synthetic Biology in Agriculture and Food Industry in 2019 by capturing the largest market share and is expected to retain its leading position over the forecast period too.
Mounting investment in advanced R&D technologies and supporting government initiatives concerning synthetic biology is the primary factor driving the market growth in this region. Further, the surge in the number of agriculture and food companies involved in the development of synthetic biology products fuels the growth of synthetic biology in the agriculture and food industry.
Market Driver
Increasing Need for High-Quality Food Propels the Market Growth
Synthetic biology is trending in the agriculture & food industries. It is the most sustainable agricultural practice as it produces food with better nutritional quality, long shelf life, and minimum harmful ingredients. It also helps in soil enrichment by using engineered microorganisms acting as biosensors that could detect pathogens or contaminants, eventually resulting in improved quality of food products.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Synthetic Biology in Agriculture and Food Industry are AgBiome, Inc., Agrivida, Inc., Arzeda, Amyris, Inc., Bayer AG, Concentric Agriculture Inc., Evolva Holding SA, Pivot Bio, Inc., Benson Hill Biosystems, Inc, Cibus, Ltd, Codexis, Inc., GINKGO BIOWORKS, Twist Bioscience.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The market/industry size or the market value is in terms of USD Million and thousand units.
A. The Global Synthetic Biology in Agriculture and Food Industry is forecast to grow at a CAGR of 35% during 2021-26.
A. AgBiome, Inc., Agrivida, Inc., Arzeda, Amyris, Inc., Bayer AG, Concentric Agriculture Inc., Evolva Holding SA, Pivot Bio, Inc., Benson Hill Biosystems, Inc, Cibus, Ltd, Codexis, Inc., GINKGO BIOWORKS, Twist Bioscience are few of the leading players in the Global Synthetic Biology in Agriculture and Food Industry.
A. Gene synthesis is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities for market leaders of the Global Synthetic Biology in Agriculture and Food Industry.
