Biofortification Market Worth $188.89 million by 2026
The global biofortification market growth is expected to be steered by two 6 crops varieties: cereals (maize, rice, wheat, sorghum, barley and pearl millet), legumes (soybeans, common beans, lentils, lupines, cowpea and chickpea), oilseeds (mustard and canola), vegetables (sweet potato, carrot, cauliflower, potato, lettuce and cassava), fruits (grapes, mango, apple, banana and tomato), and others. Cereals crop variety segment is expected to spearhead the growth owing to the significant impact across the entire breadth of the agricultural process. Biofortification is also being researched for identifying crop varieties that can be grown by the process. The global markets for biofortification were estimated at ## million in 2019. It is expected to reach $188.89 million by 2026 growing at a CAGR of ## percent.
Biofortification Market Report and Patent Landscape Analysis – 2026 focuses on the biofortification industry including its technology, market, patent landscape and critical market segments to identify the key market and technology trends. The Report forecasts the sizes and trends of the global market as well as its sub-segments for the period 2019 to 2026. Further analysis of crucial patent filing trends across crop varieties segments and target nutrients segments will provide a detailed understanding of emerging innovations in the tools market.
Biofortification patent landscape is dominated by commercial companies over universities and research institutes.
Exploiting the ownership nature of IP rights is one of the most critical angles for analyzing patent activity. It is essential to observe the type of patent applicants concerning their associations with academic, government research institutes or companies. Approximately # percent of the activity in Biofortification patent landscape is from the companies, whereas # percent of the patent activity is originating from academic applicants including universities, research institutes, hospitals, and government research wings and individuals.
Biofortification Market leading players
As the biofortification technology is in its nascent stage, new crop varieties such as cereals, legumes, oilseeds, vegetables, fruits and others are being identified. It requires an immediate and comprehensive market and patent information and analysis for existing players to diversify and new players to invest in this technology.
Aheadintel- Biofortification Market Report and Patent Landscape-analysis – 2026 introduced significant player in Biofortification Market are as follows:
- Syngenta AG
- The Mauro Seed Company
- BASF SE
- Intrexon Corporation
- LemnaTec GMBH
- Bayer AG
- Church & Dwight Co. Inc
Bayer AG holds the most extensive patent portfolio with # IP assets.
Bayer Group is a leading producer of agricultural chemicals. Crop Protection unit of the company makes herbicides, insecticides and fungicides. The company also operates in units focusing on non-crop chemicals like consumer lawn products and genetically modified seeds. Bayer has been developing both its Bioscience unit and seeds business. Bayer announce a three-year renewal of partnership with White Ribbon for the improvement of health in women, infants and children. Bayer AG holds the largest patent portfolio in Biofortification with # IP assets It has been one of the pioneers in innovative research in Biofortification space and has continuously filed for patents along with Stine Seed farm Inc which has a portfolio of # Biofortification patents.
The APAC market is predicted to continue dominating the global markets and reach a value of ## million by 2026.
The APAC market is expected to lead the industry in 2019 due to a high need of better-quality food in the people, rising population, growing consumer awareness and establishment of new companies. With a seven-year CAGR of ## percent, the APAC market is predicted to continue dominating the global markets till 2026. The market size of APAC biofortification market was estimated at ## million in 2019 and ## million in 2026.
In 2019, the global biofortification market for cereals was estimated at ## million. The market size of the cereals segment is projected at ## million in 2026.
The biofortified vegetables segment is expected to contribute significantly to the overall biofortification market by 2026. However, in 2019, the cereals segment is expected to hold ## percent of the market share which is expected to increase to ## percent by 2026. Even though cereals segment is expected to dominate the market throughout the forecast period, biofortified vegetables segment is expected to record the highest seven-year CAGR.
The cereals and grains segment are expected to be the largest whereas the fruits and vegetable segment is anticipated to record the highest CAGR during the forecast period.
The cereals and grains segment is expected to be the largest whereas the fruits and vegetable segment is anticipated to record the highest CAGR during the forecast period. Biofortified cereals market is the most dominant application segment among all and is expected to be valued at ## million in 2019. Rice and wheat are the main source of nutrition to a large number of people across the world which is why there is a huge demand for biofortified cereals crop variety.
Several companies have the opportunity of benefiting from the rising need and demand for better agricultural production.
The escalation in demand for feed, food and renewable fuel worldwide has resulted in stock depletion of agricultural commodities and rise in food prices. The demand-supply mismatch in food industry has augmented the requirement for a better agricultural productivity. The global population is expected to reach # billion by 2050, in comparison to # billion at present. The demand for food and feed is also increasing with the increasing population. The global population is on a rise but the farmland availability has been declining sharply. It is anticipated that the farmland availability per capita would decline to # hectare by 2050 from ## per hectare in 2018. Moreover, soil erosion through water and wind, droughts and deforestation also destroy more than ## million hectares of agricultural land per year. In such conditions, there is a huge demand for Company products that are designed for the improvement of food quality and crop yields.
About Ahead Intelligence (AheadIntel)
Ahead Intelligence (AheadIntel) is a technology and patent research company providing premium, comprehensive technology research on different topics. We combine IP intelligence with business and market insights to give you the complete picture around a technology space. All our reports come with interactive dashboards that give you access to the patent data and allow you to dig deeper insights into the technology space.