Genetically Modified Vegetables Global Market Report 2024 - By Demand, Size, Share, Trends, Outlook By 2033

The genetically modified vegetables market size has grown rapidly in recent years. It will grow from $0.1 billion in 2023 to $0.12 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased crop yield, pest resistance, drought tolerance, improved shelf life, enhanced nutritional content, weed control.

The genetically modified vegetables market size is expected to see rapid growth in the next few years. It will grow to $0.19 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to consumer health awareness, climate change adaptation, regulatory support, food security concerns, global population growth.. Major trends in the forecast period include biotech research and innovation, biotic and abiotic stress tolerance, precision breeding techniques, global collaboration on research, organic and sustainable agriculture.

Market Overview -
Genetically modified vegetables refer to vegetables that have their genetic material altered. The DNA of these plants is inserted with a gene from a bacteria or other organism which results in the expression of the traits that the gene represents. These vegetables are used for better resistance to certain diseases and chemicals.

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Global Demand For Healthy And High-Yielding Crops Drives Growth In Genetically Modified Vegetable Market
The surge in demand for healthy and more yielding crops is driving the genetically modified vegetable market forward. Crops are plants that are grown for economic profit. With the constant population across the world and shrinking farming lands along with increased droughts, the need for high-yielding crop species is increasing. This need can be met using genetically modified vegetables. For instance, In 2021, a survey was conducted by the American Farm Bureau Federation, a US-based insurance company representing the agriculture industry in the US. The survey included 784 respondents from the 11 western states of the US. According to the survey, 70% of the respondents agreed that their yield had decreased while the local feed costs were increased. Additionally, according to the World Food Programme, an international organization of the United Nations working for food-related assistance, approximately 828 million people sleep hungry at night in the world. The number of people suffering from acute food shortages increased from 135 million in 2019 to 345 million in 2022. As a result, the need for high-yielding and healthy crops is driving the genetically modified vegetable market forward.

Competitive Landscape -
Major companies operating in the genetically modified vegetables market report are BASF SE, Bayer AG, The Dow Chemical Company, Syngenta AG, Dupont de Nemours Inc., Groupe Limagrain Holding SA, JR Simplot Company, JKAgri Genetics Ltd., Mahyco Private Limited, Calyxt Inc., Stine Seed Farm Inc., Nuseed Pty Ltd., KWS SAAT SE & Co. KGaA, Sakata Seed Corporation, Okanagan Specialty Fruits Inc., Pairwise Plants LLC, EuropaBio, Biotechnology Industry Organization, Corteva Inc., Sakata Seed America Inc., Jivo Wellness Pvt Ltd., Ambar Protein Industries Limited, The Monsanto Company, Limagrain Holding SA, Precigen Inc., Arcadia Biosciences Inc., Aerofarms Inc., Benson Hill Biosystems Inc.

Product Innovations Transforming The Genetically Modified Vegetables Market
Product innovations are a key trend gaining popularity in the genetically modified vegetable market. Major companies in the genetically modified vegetable market are introducing innovative products such as genetically modified tomatoes to sustain their position in the market. For instance, in March 2021, Sanatech Seed, a Japan-based plant technology company launched the world's first direct consumption of genetically modified tomatoes. The product is developed using CRISPR-CAS9 technology. The new tomato has high levels of gamma-aminobutyric acid (GABA), an amino acid believed to aid relaxation and help lower blood pressure.

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Key Segments -
The genetically modified vegetables market covered in this report is segmented -
1) By Type Of Modification: Transgenic, Cis-Genic, Sub-Genic, Multiple Trait Integration
2) By Crop: Soybean, Cotton, Maize, Oilseed Rape, Canola, Alfalfa, Other Crops
3) By Technique: Gene Guns, Electroporation, Microinjection, Agrobacterium, Other Techniques
4) By Trait: Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits, Other Traits
5) By Application: Scientific Research, Agriculture Crops

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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