"Yield Higher Revenue with our Exclusive Insights "
The global genetically modified seeds market size was valued at USD 20.07 billion in 2018 and is projected to reach USD 30.24 billion by the end of 2026, exhibiting a CAGR of 5.3%.
Modern plant biotechnology applications helped in incorporating the desired beneficial traits such as insect resistance, herbicide tolerance, and high yield & improved quality in the large-scale commercially cultivated crops. Crops with these traits have aided farmers in reducing the burden of insect pests and weeds with limited cost and effort. The benefits of cultivating GM crops have helped in motivating farmers to opt for them in place of use of farm-saved or other conventional seeds in crop cultivation.
Genetically modified or transgenic crops have acquired a significant share in a few of the cultivated crops such as soybean, corn, and cotton. The area under genetically modified (GM) crops has expanded at a CAGR of 3.6% during the period from 2010 to 2017 and is projected to witness a growth rate of 2.5% during the forecast period from 2019 to 2026. Any major events related to approval for the cultivation of GM crops in countries such as China and India will significantly change the growth dynamics of global GM crops (the projected figures are mainly based on the current dynamics).
Request a Free sample to learn more about this report.
Collaboration is the key strategy adopted by the global seed companies wherein they are actively investing in R&D activities in collaboration with the agricultural research universities to develop new trait seed products.
The future of GM technology holds further promises of continued benefits, wherein industry players such as Bayer, Monsanto, DowDuPont, Syngenta, and BASF are making R&D efforts to launch GM crop seeds having additional novel traits in the key food crops. Scientists from Xiamen University and Fujian Academy of Agricultural Sciences are working to restore the deleted portion of the Rc gene in rice crop to enhance the concentration level of beneficial proanthocyanidins and anthocyanidins.
"Corn and Soybean Crops have Accounted for Largest Market Share and Canola Crop is Projected to Witness High CAGR"
Corn and soybean are the two crops that have received a high level of importance since the introduction of GM technology in the agriculture sector. Key countries growing corn and soybean such as the U.S., Brazil, and Argentina have adopted GM crops and currently, the GM crops account for nearly 85-95% share of the total soybean and corn crop harvested area.
GM canola crop majorly cultivated in Canada, Australia, and the U.S. and is projected to witness a strong CAGR during the projected period from 2019 to 2026. At the same time, other GM crops such as alfalfa and potato are projected to receive higher importance during the projected period considering the crop importance and scope for development.
To know how our report can help streamline your business, Speak to Analyst
"North America is the Largest Market for GM Crop Seeds and Asia Pacific is Projected to Offer Growth Opportunities for GM Seed Companies"
North America and South America are the largest markets for GM crop seeds, cumulatively accounted for more than 90% share in the global GM seed market. Nearly 85-95% of the soybean and corn crop cultivated in North America and South America is GM crop. Overseas demand (especially China) for Americas cultivated corn and soybean produce plays a vital role in deciding the planted area and demand for planting seeds. In January 2019, China approved five genetically modified crops for import from the U.S. and the same have supported for the expansion of planted area under GM crops and demand for planting seeds.
Asia Pacific is an emerging and fastest-growing market for GM crops and the region is projected to offer strong growth opportunities to the market players during the projected period. For instance, Bangladesh began to cultivate GM eggplant from season 2013-14 and witnessed a growth of 485% by 2017-18. Vietnam began to cultivate the GM corn crop in 2015 and witnessed a 13-fold increase in planted area by 2017. New traits launch in various crops is projected to support the growth of the genetically modified seeds market during the forecast period.
North America Genetically Modified Seeds Market, 2018
To get more information on the regional analysis of this market, Request a Free sample
An Infographic Representation of Genetically Modified Seeds Market
To get information on various segments, share your queries with us
Genetically modified crops are the outcome of substantial technological advancements in the field of agriculture. GM crop has significantly helped in reducing the costs involved in the control and management of insect pests and weeds.
GM crops are projected to play a vital role in solving the issue of poor agricultural production and food insecurity. Cultivation of GM crops is also an aid in reducing the spraying of harmful synthetic chemicals and impacts on the environment. Stringent regulations and social issues are likely to suppress the growth of genetically modified crop cultivation.
The report provides qualitative and quantitative insights on the genetically modified seeds market and detailed analysis of market size & growth rate (in terms of Value and area) for all possible segments in the market. The market is segmented by crop type and geography. On the basis of crop type, the global market is categorized into corn, soybean, cotton, canola, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the genetically modified seeds market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, new product innovations and launches, the regulatory scenario in key countries, and key industry trends.
Fortune Business Insights says that the market size was valued at USD 20.07 Billion in 2018 and is projected to reach USD 30.24 Billion by 2026. The wider acceptance of GM crops in the majority of the countries is projected continue to support the growth of the market.
In 2018, the market was valued at USD 20.07 Billion and market players are investing in R&D to bring traits having unique characteristics to solve the crop cultivation issues (such as soil salinity, abiotic stress, etc.). Farmers have planted around 189.24 million hectares under GM crops in 2017 (projected to witness growth of 1.35% in 2018 over 2017).
The market is projected to grow at a CAGR of 5.3% during the forecast period (2019-2026) while the global area under GM crops is projected to witness a growth of 2.5% during the same period.
Corn crop segment is projected to be the leading segment in this market during the forecast period. Soybean and cotton crops are also accounted for a significant share in the global GM seeds market in 2018.
Benefits of cultivating the GM crops have motivated farmers to opt for adopting them in place of use of farm-saved or other conventional seeds in crop cultivation.
Bayer CropScience, BASF SE, Syngenta, and JR Simplot Co. are the key players operating in the market. Collaboration and partnerships are the key strategies adopted by the global GM seed companies and are actively investing in R&D activities in collaboration or partnership with agricultural research universities/stations.
North America is expected to hold the highest market share in 2018. North America and South America regions cumulatively accounted for more than 90% of GM seed market share (by value) in 2018.
Farm productivity and food security concerns due to shrinking arable land, an outbreak of pests, weather aberrations, and increasing population are the key factors that drive the growth of the GM seeds market.
Herbicide-tolerant traits accounted for largest share in GM seed market followed by stacked and insect-resistant traits.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry