Global Biofortification - Market Overview:
Biofortification is used to improve nutritional quality of crops through modern technology, agronomic practices and conventional plant breeding. Today, in more than 30 countries across Africa, Latin America and Asia are developing biofortified crops. Considering the malnutrition being the the major problems across emerging countries, biofortification technology is expected to have huge adoption during forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Advent of Innovative Biofortification Models and Favorable Government Support in Its Development
Market Growth Drivers:
Growing Demand for High Content Nutritional Foods and Rising Investment in Agrigenomics by Various Stakeholders
Challenges:
Restriction on the Production of Genetically Modified Crops
Restraints:
Lack of Awareness About Advantages of Bio-fortified Crops and Complexity Involved in Biofortification Processes
Opportunities:
Unregulated Environment for Biofortification and Rising Demand and Huge Potential in Emerging Countries
Competitive Landscape:
Global Biofortification is a fragmented market due to the presence of various players. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Syngenta (Switzerland), Bayer (Germany), BASF (United States), DowDuPont (United States), Monsanto (United States), Charles River Laboratories (United States), LemnaTec (Germany) and Intertek (United Kingdom). Analyst at AMA Research see United States Vendors to retain maximum share of Global Biofortification - market by 2028. Considering Market by Crop Type, the sub-segment i.e. Sweet Potato will boost the Biofortification - market. Considering Market by Nutrient, the sub-segment i.e. Zinc will boost the Biofortification - market.
Latest Market Insights:
In 2020, Syngenta acquired Sensako. The acquisition will accelerate Syngenta Seeds’ entry into the South African seeds market. Allows Syngenta Seeds to accelerate introduction of Viptera trait technology to address the fall armyworm challenge and its devastating impact on South African growers.
On 11th January 2022, Bayer Crop Science launched Ambitionwhich is a crop supplement formulation with Amino acids & Fulvic acids for the China market. The product promotes plant growth and stimulates photosynthesis. It increases fertility and fruit set. It is also proven that amino acids facilitate penetration of nutrients in the plant system (chelating effect of glycine) and activate defense enzymes for increased tolerance to abiotic stress.
What Can be Explored with the Biofortification - Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Biofortification - Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Biofortification -
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Biofortification - market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Biofortification - market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Biofortification Service Providers, Potential Investors, Government Agencies, Market and Research Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.