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Genetically Modified Crops Market on Track for Strong Growth, Estimated to Grow at 6.3% CAGR Through 2029
Genetically Modified Crops Market
What Is the Expected CAGR for the Genetically Modified Crops Market Through 2025?
The market size for genetically modified crops has experienced significant growth in the past few years. It is projected to expand from $23.88 billion in 2024 to $25.26 billion in 2025, with an annual growth rate (CAGR) of 5.7%. The expansion in the previous period was mainly due to government efforts to promote genetically modified foods, the emergence of new markets, and increasing demand for animal feed.
What's the Projected Size of the Global Genetically Modified Crops Market by 2029?
In the ensuing years, the market for genetically modified crops is predicted to witness substantial growth, reaching $32.19 billion by 2029 with a 6.3% compound annual growth rate (CAGR). The surge anticipated during the forecast period is due to factors such as population growth, food waste, technological progress, and heightened demand for biofuel. The forthcoming period will see key trends such as investing in gene stacking, capitalizing on groundbreaking Crispr technologies, channeling resources into R&D for nitrogen fixing crops, focusing on research of haploid induction techniques, and creating products that expedite crop production, along with fostering collaborations with research institutions and established firms.
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Top Growth Drivers in the Genetically Modified Crops Industry: What's Accelerating the Market?
The high demand for genetically modified (GM) crops can be attributed to characteristics such as insect tolerance and resistance to herbicides. These crops also offer other advantages such as enriched nutritional content, increased yield, and an extended shelf life, making them a preferred choice for farmers looking to boost their outputs and earnings. The U.S. Department of Agriculture (USDA) states that the use of genetically engineered cotton with resistance to insects has led to a considerable decrease in the application of synthetic pesticides, which are responsible for contaminating groundwater along with the environment. The environmental benefits and considerations surrounding GM crops stimulate market demand for these crops, projecting growth in the genetically modified crops market during the prediction period.
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Which Emerging Trends Are Transforming the Genetically Modified Crops Market in 2025?
Key players in the genetically modified crops market are leveraging strategic partnerships to bolster their capabilities and competitive edge. These partnerships involve companies utilizing each other's skills and resources for shared advantages and triumphs. For example, in February 2022, InterGrain, a cereal breeding company from Australia, formed an alliance with Inari, an agri-biotech company from the US. The goal of this collaboration is to improve the yield potential of wheat, ensuring its long-term sustainability in an increasingly fluctuating climate, with a target increase of 10-15% in modified wheat crop yield potential.
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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