Biotechnology in Agriculture

Freedonia Group Inc
August 1, 2002
241 Pages - SKU: FG802422
License type:
Countries covered: United States

Biotechnology in Agriculture

 
US sales of agricultural biotechnology products will rise 6.3 percent per year to $2.9 billion in 2006. Over the same period, arable land devoted to transgenic crops (genetically modified organisms, GMOs) is expected to reach 102 million acres, up from about 93 million acres in 2001.

Transgenic seeds and crops will continue to dominate sales of agricultural biotechnology products based largely on rising demand for insect-protected and/or herbicide- tolerant soybeans, corn and cotton. Most long-term growth in the market value of transgenic seeds and plants will be spurred by the development of crops adding beneficial, value-added output traits (e.g., vitamin-fortified rice, cholesterol-lowering corn). Crops of this type will provide producers with more opportunities to appeal directly to consumers. Plants capable of pharmaceutical, chemical and vaccine manufacture wlll also become a commercial reality over the next decade.

Details on these and other key findings are presented in Agricultural Biotechnology. Historical data for 1996 and 2001 plus forecasts to 2006 and 2011 are given for transgenic seed sales by crop, as well as for sales of other agricultural biotechnology products. Growth opportunities for agricultural biotechnology products by function are also outlined. The study also examines the industry structure and profiles major companies competing in the US industry.

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