Market Trends and Growth Opportunities in Plant Biotechnology

Miguel Fernández-Gómez
University of Copenhagen, Denmark.

DOI:https://doi.org/10.5912/jcb2495

Abstract:

Plant biotechnology is a rapidly developing area of plant science, which is to assist in tackling the global problem of food security, agricultural sustainability and environmental conservation. Advances in the genetic engineering techniques like the CRISPR-based gene editing and the rapid take up of the bio agricultural inputs e.g. the biopesticides and the biofertilizers are the two major drivers of the market worldwide. Moreover, the growth of plant-based pharmaceuticals and nutraceuticals is generating new opportunities present in the sector. Market expansion is supported by emerging economies, especially in Asia-Pacific and Latin America, pursuant to the supportive government policies and investments in agricultural biotechnology. Despite this, regulatory hurdles, ethical questions, and obstacles to public perception slow down uptake. However, the presence of these challenges has not stoppered continuous innovation and investment in plant biotechnology, which is expected to lead to market growth in the future, providing sustainable solutions to fortify crop resilience, increase crop yields and support global agricultural development.