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Global Genetically Modified Seeds Market Analysis & Trends - Industry Forecast to 2028

Global Genetically Modified Seeds Market Analysis & Trends - Industry Forecast to 2028

  • July 2021
  • 194 pages
  • ID: 5476969
  • Format: PDF
  • Accuray Research LLP

Summary

Table of Contents

Genetically Modified Seeds: Market Size

From $22.25 billion in 2020, the global Genetically Modified Seeds market is projected to reach $39.10 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 7.3% from 2020 - 2028 timeframe.


Some of the prominent trends that the market is witnessing include increasing demand for crop production, the rise in the adoption of biofuels, and rising overseas demand for grains.

Global Genetically Modified Seeds Market: Market Dynamics

The global genetically modified seed market is predicted to register vital growth over the forecast period owing to the rise in adoption of biofuels, made up of genetically modified energy crops such as soybean, sugarcane, wheat, and corn which drives the growth of the global genetically modified seeds market. The governments of different countries from developing countries are also encouraging farmers to use genetically modified seeds over conventional seeds to increase the yield of the crop which also drives the growth of the global genetically modified seed market.

Modern plant biotechnology applications help in including the desired beneficial traits such as herbicide tolerance, insect resistance, and high yield & improved quality in the large scale commercially cultivated crops. Crops with such traits have helped farmers in bringing down the burden of weeds and insect pests with limited cost and effort. The benefits of cultivating genetically modified crops have aided in motivating farmers to opt for them in place of farm-saved or other conventional seeds in crop cultivation.

On the other hand, advent of new technologies such as vertical farming are likely to obstruct the profit boundaries. In addition, growing food security concerns will further boost the genetically modified seeds market.

Impact of COVID-19 on Genetically Modified Seeds

The outbreak of COVID-19 and the measures taken to control the pandemic are having a crippling effect on the agriculture sector across the globe. During times of crisis such as the COVID-19 pandemic, genetically modified seeds delivery is among the necessary services that must continue to operate to support the current and subsequent production cycles. On the other hand, issues associated with the transportation of genetically modified seeds either domestically or internationally owing to the reduced number of flights, low number of drivers, and slow process of the necessary documentation because of the lower number of staff is creating specific problems for the seed sector. COVID-19 impact on the agriculture and agri-allied sectors remains latent, especially with the inability of small farmers to move their products from their farms to markets, both semi-urban and urban, and to source agricultural quality inputs in some regions across the globe. Immediate actions are essential to facilitate farmers’ access to seeds and other agricultural inputs; the disruptions caused by COVID-19 may lead to a decrease in agricultural production and acreages owing to the unavailability of the required quality and quantity of seeds to plant across the world.

By Trait

Herbicide Tolerance Segment Dominate the Market in 2020

The herbicide tolerance segment made huge revenue in 2020 and growing its prominence during the forecast period due to various benefits such as reduction in the number of herbicides used and the associated environmental impact as compared to conventional crop production methods. Herbicide tolerance in genetically modified crops protects against weeds and enhances the crop yield.

By Geography

Asia Pacific Region is Leading in the Global Market Place

The Asia Pacific is likely to have a huge demand in the forecast period. Biotechnology in the agricultural field is exhibiting strong growth in emerging countries such as India and China, to provide enhanced crop yield against fluctuating environmental conditions such as drought and salinity.

List of the Key Players Profiled in the Market Include:

• BASF SE
• Bayer CropScience
• Calyxt Inc.
• DowDuPont
• JK Agri Genetics Ltd.
• Maharashtra Hybrid Seed Company (MAHYCO)
• Nuseed Pty Ltd
• R. Simplot Co.
• Stine Seed Farm, Inc
• Syngenta
• Bayer AG
• Monsanto Company Inc.
• Land O’Lakes
• Sakata Seed
• Takii Seed
• DLF Seeds and Science
• Kleinwanzlebener Saatzuch SAAT SE
• Groupe Limagrain

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others

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