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Genetically Modified Seeds Market Stand Out as the Biggest Contributor to Global Growth and Will Hit 5.3% CAGR By 2026
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Growing Adoption by Farmers Fueling the Market
The global genetically modified seeds market 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.
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.
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Segmentation
By Crop
· Corn
· Soybean
· Cotton
· Canola
· Others
By Geography
· 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)
Secondary Data Sources That We Refer To
• Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
• Studies published by relevant associations (Food and Agriculture Organization; United States Environmental Protection Agency ; etc.), government sources (World Bank; IMF, Agrochemicals Registration and Regulatory Bodies; Agriculture Equipment Manufacturers Associations, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, etc.), and articles published by Agrochemicals and Agriculture Magazines, ResearchGate, etc.
• Website, reports, and press releases of product manufacturers & suppliers – Agrochemicals manufacturers and suppliers, regulatory bodies, etc.
• Industry journals and paid databases.
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