Transgenic Seeds - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Transgenic Seeds Market is accounted for $28.17 billion in 2019 and is expected to reach $77.57 billion by 2027 growing at a CAGR of 13.5% during the forecast period. Increasing agricultural productivity, regulation limits on pesticide utilization, and industrial preference of products of high quality are some of the major factors propelling the growth of the market. However, stringent rules and regulations and high requirement of R&D support are hampering the growth of the market.
Transgenic seeds, also known as genetically modified (GM) seeds are a type of seeds that are modified by insertion of genes directly into the DNA of the seed. Seeds are genetically modified to contain specific characteristics such as resistant to herbicides and resistant to pests. GM seeds are gaining wide acceptability among commercial crop growers. The acreage of GM variants has significantly increased in cotton, corn, soybean and wheat across the globe. The major advantage associated with the genetically modified seed includes improved agricultural production, reduced pesticide usage, and increased profits. The rapid change in environmental conditions, depleting water resources led to a shift in agricultural practices towards sustainable technologies such as GM crops.
Based on the traits, the herbicide tolerance (HT) segment is going to have a lucrative growth during the forecast period owing to its design which can tolerate specific spectrum of herbicides, restricting the growth of surrounding weeds and supporting the growth of crops. Growing utilization of herbicides in the production of corn and soybean for crop protection led to a shift in preference towards the production of herbicide-tolerant crops. Currently, more than 120 million acres of corn and soybean is genetically engineered to be tolerant to glyphosate, and other herbicides in the United States.
By geography, North America is anticipated to hold considerable market share during the forecast period due to the increased adoption rate of GM corn, soybeans, cotton and alfalfa by farmers across the region. More than 90% of corn, soybean, canola and sugar beet produced in the United States are genetically modified in every crop season. Factors led to the growth of transgenic seeds include lower crop diseases, effective weed management, insect control and high agricultural yielding capacity of GM seeds. According to the data published in USDA National Agricultural Statistics Service, the adoption of genetically engineered crops in the United States increased.
Some of the key players profiled in the Transgenic Seeds Market include e Bayer Cropscience AG, Syngenta AG, Dow Chemical Company, E.I. Du Pont De Nemours and Company, Monsanto, BASF SE, Vilmorin & Cie, Suntory Holdings Limited, J.R. Simplot Company, and Bejo Zaden B.V.
• Insect Resistance (IR)
• Herbicide Tolerance (HT)
• Modified Product Quality
• Disease Resistance
• Abiotic Stress Tolerance
• Pest Resistance
• Virus Resistance
• Oil Seed
• Fruits & Vegetables
• Ornamental & Forage Crop
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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