Transgenic Seeds Market Size, Restraints, Drivers, Trends And Analysis 2024-2033

The transgenic seeds market size has grown rapidly in recent years. It will grow from $44.02 billion in 2023 to $50.24 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to increased construction activities, awareness towards environmental impact, government regulations, increase in outdoor events, advancements in turf management..

The transgenic seeds market size is expected to see rapid growth in the next few years. It will grow to $81.16 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to climate change challenges, growing trend of sustainable landscaping, expansion of sports infrastructure, rise in recreational spaces, urban greening initiatives.. Major trends in the forecast period include disease and stress management solutions, advancements in formulations, precision application technologies, resilient turf varieties, organic turf management, education and training initiatives..

Market Overview -
Transgenic seed, also known as genetically modified seed, refers to a seed from plant whose genetic composition has been altered through techniques other than those used in conventional plant breeding to produce seed that contains chosen genes from other plants. It is used to create plants with desired features and higher yields.

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Rising Agricultural Productivity Fuels Growth In The Transgenic Seed Market
Increasing agricultural productivity is expected to propel the growth of the transgenic seed market going forward. Agricultural productivity refers to the measure of the market value of the crop yield of an agricultural production system that uses inputs such as land, labor, capital, and other resources to produce yield. Transgenic seeds are primarily used in agricultural production to grow more food with fewer resources. The use of transgenic seed technology to increase yield and reduce the use of agricultural land, leading to increased profits for farmers boost the transgenic seed market. For instance, in November 2022, according to Eurostat, a Luxembourg government agency, 297.5 million metric tons of harvested grains, including rice, were produced in Europe in 2021, an increase of 4.2 %, or 12.1 million metric tons, over 2020. Furthermore, in December 2022, according to the Food and Agriculture Organization, a US-based specialized agency, the global primary crop production increased by 2% from 2020 to reach 9.5 billion tons in 2021. Therefore, increasing agricultural productivity is driving the growth of the transgenic seed market.

Competitive Landscape -
Major companies operating in the transgenic seeds market report are BASF SE, DuPont de Nemours Inc., Syngenta AG, Vilmorin And Cie SA, Bayer AG, The Monsanto Company, Maharashtra Hybrid Seeds Company Private Limited, JK Agri Genetics Ltd., Bejo Zaden B.V., Groupe Limagrain, Kaveri Seed Company Ltd., Land O Lakes Inc., Calyxt Inc., REAL SEED, SCC GmbH, Longping High-Tech, Dow Chemical Company, E.I. Du Pont De Nemours and Company, Suntory Holdings Limited, J.R. Simplot Company, Beijing Dabeinong Technology Group Co. Ltd., Sakata Seed Corporation, Takii & Co. Ltd., Enza Zaden B.V., KWS SAAT SE & Co. KGaA, DLF Seeds A/S, Advanta Limited, Nufarm Limited, Origin Agritech Limited, China National Chemical Corporation, Hefei Fengle Seed Co. Ltd., Anhui Huaxing Chemical Industry Co. Ltd.

Innovative Products Drive Market Growth
Product innovation is a key trend gaining popularity in the transgenic seed market. Major companies operating in the transgenic seed market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2021, Corteva Inc., a US-based agriculture company launched Conkesta E3, a genetically modified soybean seed, for Brazilian farmers. It recently received authorization by the European Union Commission. Conkesta E3 soybeans have good genetics and extensive lepidopteran insect protection as part of the Enlist weed control system, which offers maximum flexibility and superior control of broadleaf weeds and grasses. Additionally, it increases crop production efficiency.

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Key Segments -

The transgenic seeds market covered in this report is segmented -
1) By Type: Farmland, Green House
2) By Trait: Herbicide Tolerance, Insect- Resistance, Other Traits
3) By Crop: Maize, Cotton, Rice, Soybean, Canola, Other Crops
4) By End -User: Insect Resistance, Herbicide Tolerance, Virus Resistance, Altered Oil Composition, Delayed Fruit Ripening, Male Sterility And Restorer System

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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