Press release
Genetically Modified Crops Market Size Forecasted To Achieve $32.35 Billion By 2029 With Steady Growth
Genetically Modified Crops
What Is the Genetically Modified Crops Market Size and Projected Growth Rate?
The market size of genetically modified crops has seen significant expansion in the past few years. The prediction is that the growth from $23.41 billion in 2024 to $24.77 billion in 2025, will happen at a compound annual growth rate (CAGR) of 5.8%. The rise in the historical phase can be credited to governmental strategies endorsing genetically modified food, the development of emerging markets, and an increasing demand for animal feed.
In the coming years, the market size for genetically modified crops is expected to experience robust growth. It's anticipated to expand to $32.35 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%. The growth of this market in the forecasted period can be credited to the rising global population, increased food wastage, advancements in technology, and a surge in biofuel demand. Some key trends predicted for the forecast period include investment in gene stacking, capitalizing on innovative Crispr technologies, pouring resources into the research and development of nitrogen-fixing crops, and allotting resources towards researching haploid induction techniques. The focus will also be on developing products that can expedite crop production and establishing tie-ups with research institutions and well-established companies.
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What Are the Major Segments in the Genetically Modified Crops Market?
The genetically modified crops market covered in this report is segmented -
1) By Trait: Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST), Other Traits
2) By Crop: Soybean, Cotton, Maize, Oilseed Rape, Other Crops
3) By Technique: Gene Guns, Electroporation,Microinjection, Agrobacterium, Other Techniques
4) By Type of Modification: Transgenic, Cis-genic, Sub-genic, Multiple Trait Integration 5) By Application: Scientific Research, Agriculture Crops
Subsegments:
1) By Herbicide Tolerance (HT): Glyphosate Tolerance, Glufosinate Tolerance, Other Herbicide Tolerant Traits
2) By Insect Resistance (IR): Bacillus Thuringiensis (BT) Traits, Rootworm Resistance, Other Insect Resistant Traits
3) By Stacked Traits (ST): HT And IR Stacked Traits, Stacked Traits With Other Functionalities, Multi-Stacked Trait Varieties
4) By Other Traits: Drought Tolerance, Nutritional Enhancement, Improved Shelf Life, Disease Resistance
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What Are The Driving Genetically Modified Crops Market Evolution?
Genetically engineered (GE) crops possess attributes like resilience to insects and tolerance to herbicides which make them highly sought after. Other advantages provided by these genetically altered crops include enhanced nutritional content, improved crop yield, and extended product longevity. Thus, farmers are increasingly turning towards these crops to augment their yield and profit margins. The U.S. Department of Agriculture (USDA) has documented that genetically altered cotton resistant to insects has contributed to a significant decline in synthetic pesticide use, which in turn is reducing environmental and groundwater pollution. The environmental benefits and the advantages presented by GE crops stimulate the need for market growth in genetically altered crops during the projected timeline.
Which Firms Dominate The Genetically Modified Crops Market Segments?
Major companies operating in the genetically modified crops market include Bayer AG, BASF SE, DuPont, Syngenta AG, The Dow Chemical Company, JR Simplot Co., Groupe Limagrain, Stine Seed Farm, Inc., Calyxt Inc., Maharashtra Hybrid Seed Company (MAHYCO), JK Agri Genetics Ltd., Nuseed Pty Ltd, Dabeinong Science and Technology Group Co., Origin Agritech Limited, Monsanto, COODETEC, Nidera and Geneze Seeds S/A, Middle East Agriculture Company, Sensako, Corteva Agriscience, Vilmorin & Cie SA, Rijk Zwaan Zaadteelt en Zaadhandel BV, Sakata Seed Corporation, Yuan Longping High-Tech Agriculture Co Ltd.
What Trends Are Expected to Dominate the Genetically Modified Crops Market in the Next 5 Years?
Prominent firms involved in the genetically modified crops industry are looking to strategic partnerships to strengthen their abilities and competitive edge. This kind of partnership allows companies to maximize upon each other's strengths and resources for mutual gains and achievements. In one example, InterGrain, a cereal breeding firm from Australia, and Inari, an agri-biotechnology company from the US, teamed up in February 2022. Their joint endeavor is to improve the yield of wheat crops, ensuring their long-term survival amidst the challenges of an increasingly erratic climate. Their ambition is to see a 10-15% rise in the yield potential of modified wheat crops.
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Which Is The Largest Region In The Genetically Modified Crops Market?
North America was the largest region in the genetically modified crops market in 2024. South America was the second largest region in the global genetically modified crops market share. The regions covered in the genetically modified crops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Genetically Modified Crops Market?
2. What is the CAGR expected in the Genetically Modified Crops Market?
3. What Are the Key Innovations Transforming the Genetically Modified Crops Industry?
4. Which Region Is Leading the Genetically Modified Crops Market?
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