Genetically Modified Seeds Market Analysis and Future Demand by key vendors Syngenta A.G., BASF S.E., Bayer A.G, Monsanto Company, DowDupont Inc., Groupe Limagrain Holding S.A., Bejo Zaden B.V.

Genetically modification (GM) of seeds involves the modification of DNA of natural seeds, in order to increase tolerance against pests and herbicides, with the help of genetic engineering methods such as gene gun and agrobacterium tumefaciens. It also aids in improving the yield of the crop. Genetically modified seeds are gaining popularity over conventional seeds, owing to factors such as longer shelf life, improved yields, enhanced nutritional values, and capacity to sustain against climatic changes. According to the Food and Agriculture Organization (FAO), increasing population and rising disposable income of consumers would result in an increase in food production by almost 70% by 2050. The steadily growing demand for food and the reduced availability of arable land is expected to increase the adoption of various agricultural developments such as GM seeds, which in turn, is anticipated to support the global growth of the market. According to the Department for Environment Food and Rural Affairs, total agricultural land in UK was reduced from 17,240 thousand hectares in 2014 to 17,147 thousand hectares in 2015.

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Stringent regulations imposed by various regulatory bodies such as Environmental Protection Agency (EPA), United States Department of Agriculture (USDA) and Food and Drug Administration (FDA), on genetically modified crops is hindering the market growth. For instance, EPA regulates the use of Bt toxins under the FIFRA Act (Federal Insecticide, Fungicide and Rodenticide Act)

Genetically Modified Seeds Market Taxonomy

Based on crop type, the global genetically modified seeds market is segmented into:

Corn
Soybean
Cotton
Potato
Sugar Beets
Zucchini
Others
Based on trait, the global genetically modified seeds market is segmented into:

Insect Tolerance
Herbicide Tolerance

Genetically Modified Seeds Market Outlook

North America dominated the genetically modified seeds market in 2016, owing to high adoption of genetically modified or biotech crops in the region. According to the International Service for the Acquisition of Agri Biotech Applications (ISAAA), in 2016, Canada was reported as one of the major countries producing genetically modified crops with an area of 11.55 million hectares, with an average adoption rate of 93%. In the same year, five majorly produced genetically modified crops in Canada were soybean, canola, maize, sugar beet, and alfalfa and the total planting of these crops increased by about 5% from 2015.

Additionally in 2016, the Canadian Food Inspection Agency (CFIA), approved cultivation of SU Canola and innate potato. Increasing support from government with respect to promotion of genetically modified seeds is one of the major factors fueling growth of the market.

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Major Players in the Genetically Modified Seeds Market

The global genetically modified seeds market is highly consolidated and characterized by intense competition. Mergers and acquisitions, joint ventures and partnerships, product innovations, and expansions are some of the major strategies adopted by key players to retain their market dominance. For instance, in 2016, Vimorin & Cie SA entered into joint agreement with KWS SAAT SE — a seed company — in order to develop traits of GM corn. Vimorin & Cie SA operates as a subsidiary of Groupe Limagrain Holding S.A.

Major players operating in the global genetically modified seeds market include Syngenta A.G., BASF S.E., Bayer A.G, Monsanto Company, DowDupont Inc., Groupe Limagrain Holding S.A., Bejo Zaden B.V., DLF Seeds A/S, Canterra Seeds Holdings Ltd., Takii and Co. Ltd., and AgReliant Genetics LLC.

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This release was published on openPR.