The Global Genetically Modified Seeds Market is expected to reach a market value of US$ 30.24 bn from its current value of US$ 20.07 bn (2018) by 2026. Valuable market insights have been shared by Fortune Business Insights in its report, titled “Genetically Modified Seeds (GMO) Market Size, Share and Global Trend By Crop (Corn, Soybean, Cotton, Canola and Others), and Geography Forecast till 2026”.
Some other key players identified by Fortune Business Insights include
- Maharashtra Hybrid Seed Company (MAHYCO),
- BASF SE,
- Calyxt Inc.,
- Nuseed Pty Ltd,
- Simplot Co.
Asia-Pacific to Emerge as the Most Lucrative Market
While North and South America are expected to remain the largest markets for GM crops, Asia-Pacific is set to emerge as the fastest growing market in the global genetically modified seeds market. However, developing nations in Asia-Pacific such as India, China, Vietnam, and Philippines, are increasing their investment in research and development of GM crops. For example, India recently approved commercial launch of GM Mustard. Moreover, growing food requirements of their increasing young populations have necessitated the use of GM crops and expand their area of cultivation. This bodes well for the market and its key participants.
- North America (U.S., Canada, and Mexico)
- Europe (Spain and Portugal)
- Asia Pacific (China, India, Australia, Pakistan, Philippines, Myanmar, Vietnam, and Bangladesh)
- South America (Brazil, Argentina, Paraguay, Bolivia, Uruguay, Colombia, Honduras, Chile, and Costa Rica)
- Middle East & Africa (South Africa and Sudan)
Growing Adoption by Farmers Fueling the Market
The global genetically modified seeds industry is set to surge as awareness among farmers regarding the benefits of genetically modified crops is increasing. The main advantages driving the rising adoption are drought and pest resistance and their high yielding properties. While the area under cultivation under GM crops grew at 3.6% CAGR between 2010 and 2017, it is expected to expand at a rate of 2.5% during the forecast period. A higher yield makes transgenic crops a commercially attractive option to conventional crops, enhancing the market potential.
TABLE OF CONTENT:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Overview of the Parent/Related Markets
4.2. Supply Chain Analysis
4.3. Analysis on GM Crop Events
4.4. Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
5. Global Commercial Seed Market Analysis, Insights and Forecast, 2014-2025
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Crop
5.3. Market Analysis, Insights and Forecast – By Geography
5.3.1. North America
5.3.3. Asia Pacific
5.3.4. South America
5.3.5. Middle East & Africa
Corn and Soyabean Hold the Largest Market Share
Genetic modifications in corn and soyabean have been the highest ever since GM crops have got the green light to be introduced in food crops, particularly in USA, Argentina, and Brazil. The global genetically modified seeds market stands to gain as the area under genetically modified corn and soyabean crops is already 85-95% of the total harvested area of the two crops.
In terms of CAGR, canola crop, mainly grown in Canada, Australia, and USA, is set to lead the market during the forecast period. Growing importance of crops such as potatoes and alfalfa will also spur the global genetically modified seeds market.
Secondary Research Is Conducted To Derive The Following Information
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
- Details in relation to the parent market/related market, value and supply chain analysis, and recent technological developments.
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities.
- Market & technological trends and new product developments
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