Global GMO Corn Market Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026
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Using genetic modification techniques and bioengineering procedures to cultivate crops is being commonly exercised across the global food and beverage industry. With global farming conditions getting worse, cultivation of crops such as maize (corn) is being heavily marred by irregular presence of key micronutrients such as dietary fibers. Natural cultivation of corn, which is one of the richest source of energy (carbs) and has high presence of dietary fibers, is becoming less profitable as majority of farm produce remains under the low quality margin. This has instrumented the cultivation of corn crop as a genetically modified organism (GMO).
Farmers in several parts of the world are resorting to GMO cultivation methods to bring in more profits from corn produce. In addition, the production of GMO corn is being favored for being consistently high in quality. These innovative bioengineering methods make GMO corn resistant against pesticides, herbicides and crop diseases. According to Fact.MR’s forecast study, the demand for GMO corn will continue to gain traction in the near future. Over the forecast period, 2017-2026, the global GMO corn market is expected to expand at an 8.3% CAGR in terms of volume. By the end of 2026, the global GMO corn market is assessed to touch a valuation of US$ 264 Bn.
4 Forecast Highlights on Global GMO Corn Market
Through 2026, GMO corn exhibiting insect tolerant traits will be sold at a high volume CAGR of 9%. Meanwhile, demand for GMO corn with stacked traits of herbicide tolerance and insect tolerance will remain high throughout the forecast period. GMO corn with stacked traits will account for nearly 58% of overall global market volumes over the forecast period.
Direct sales of GMO corn are likely to translate highest revenues during the forecast period. In 2017, more than 380 million units of GMO corn have been consumed across the globe. The report also projects that modern trade sales of GMO corn will register fastest volume CAGR over the forecast period.
By the end of forecast period, food applications of GMO corn are expected to reflect a global market volume share of nearly 40%. Feed and residual applications of GMO corn are also expected to gain traction in the foreseeable future.
In 2018 and beyond, North America will represent the largest market for GMO corn. US consumer lifestyles continue to promote the consumption of GMO crops. In addition, several key players in the global GMO corn market are based in the US. By 2026-end, the North America GMO corn market is likely to touch a valuation of US$ 112 Bn.
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Demand for GMO corn in Feed & Residual Applications to Gain Traction
Key findings from the report reveal that food applications of GMO corn will not dominate the global GMO corn market in terms of volume. Interestingly, their use in feed production and residual applications will account for global sales of over 760 million units of GMO corn by the end of 2026. The report also reveals that North America will be the largest consumer of GMO corn, while the Asia-Pacific excluding Japan (APEJ) will spearhead the global GMO corn production. Higher acceptance of GMO crops among consumers in the US and Canada will keep North America at a leading position in the expansion of the global GMO corn market through 2026.
Companies spearheading the global production of GMO corn have been profiled in the report. These include, AgReliant Genetics LLC, BASF, Bayer CropScience, Canterra Seeds, Dow Agroscience, DuPont, Groupe Limagrain, Kleinwanzlebener Saatzuch SAAT SE, Land O'Lakes, Monsanto Company, Syngenta AG, and Takii Seed. Majority of these companies are expected to focus on extending collaborations with governments and capitalize from initiatives promoting the GMO cultivation practices to meet future demands.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Food & Beverages Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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