Soaring Demand Set to Propel Genetically Modified Crops Market to $32.35 Billion by 2029

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What Is the Expected CAGR for the Genetically Modified Crops Market Through 2025?
The market size for genetically modified crops has experienced robust growth in the past few years. The projection is that it will rise from $23.41 billion in 2024 to approximately $24.77 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The past growth trends can be traced back to government policies favoring genetically modified foods, the enlargement of emerging markets, and an increasing demand for animal feed.

What's the Projected Size of the Global Genetically Modified Crops Market by 2029?
The market size for genetically modified crops is anticipated to experience robust expansion in the forthcoming years. The market is projected to achieve a value of $32.35 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.9%. Increasing population, food wastage, technological innovations, and a surge in the demand for biofuels contribute to this growth during the forecast period. The period is also expected to witness significant trends, including investment in gene stacking, emphasis on utilizing groundbreaking Crispr technologies, dedication of resources to the research and development of nitrogen fixing crops, commitment to researching haploid induction methods, and product development that optimizes crop production time. Additionally, a focus will be geared towards fostering partnerships with research institutions and well-established companies.

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Top Growth Drivers in the Genetically Modified Crops Industry: What's Accelerating the Market?
The appeal of Genetically Modified (GM) crops lies in their attributes such as tolerance to insects and herbicides. These traits, along with their high nutritional content, better yields, and extended shelf-life, contribute to their surging demand. Farmers are increasingly turning to GM crops to boost their production and profit margins. The U.S. Department of Agriculture (USDA) reports indicate that the use of genetically engineered insect-resistant cotton has led to a substantial decrease in the application of synthetic pesticides, which are known to pollute groundwater and the environment. These ecological considerations, combined with the advantages that GM crops present, stimulate the demand for the expansion of the genetically modified crops market throughout the projected period.

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What Trends Will Shape the Genetically Modified Crops Market Through 2029 and Beyond?
In order to improve their abilities and business competitiveness, the major corporations in the genetically modified crops market are adopting a strategic partnerships approach. This refers to a process where businesses utilize each other's strengths and resources to obtain mutual advantages and prosperity. For example, InterGrain, a cereal breeding company based in Australia, formed a strategic partnership with Inari, an agri-biotechnology firm from the United States, in February 2022. Their primary goal is to boost the yield potential of wheat, ensuring long-term sustainability of the crop in a progressively erratic climate. The partnership aims to achieve a 10-15% surge in the potential yield of genetically modified wheat.

What Are the Main 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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Which Top Companies are Driving Growth in the Genetically Modified Crops Market?
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.

Which Regions Will Dominate the Genetically Modified Crops Market Through 2029?
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

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