Global GMO Crops and Seeds Market: Snapshot
The global GMO crops and seeds market is treading a growth path for the dire need to expand crop production globally. Due to the exploding global population, crop production via conventional agriculture is insufficient to fulfill the food needs. This has necessitated alternate means of crop production that are viable and sustainable. To that end, GMO seeds have served to not only magnify crop yield, but develop robust crop varieties.
In recent years, breakthrough developments in biotechnology has aided the growth of the agricultural sector. With extensive R&D, researchers have been successful to modify genes in laboratory environments. Unlike traditional method of natural process of modifying gene over generations of cross-fertilization, GMO crops and seeds are developed by modifying genes by directly inserting them into the DNA of the seed. These genetically modified seeds when used in commercial agriculture produces much higher crop yield. Such successful outcomes are boosting the demand for GMO crops and seeds.
On the downside, emergence of GMO crops and seeds has led to the elimination of large varieties of heirloom crop. Due to sentiments of some ethnic communities that are not in favor of artificially modifying genes, the growth of GMO crops and seeds market is restrained to some extent.
Nevertheless, the advantages of GMO crops and seeds outweigh their drawbacks, for the GMO crops and seeds market to display solid growth in the forthcoming years.
According to a market study by Transparency Market Research, the global GMO and seeds market is likely to expand at 8.3% CAGR from 2017 to 2022. At this pace, the market is likely to be worth US$36,653.2 mn by 2022 vis-à-vis revenue.
Demand for use as Insecticide accounts for Corn to lead other Crop types
The global GMO crops and seeds market is divided on the basis of crop type, sales channel, trait, and region. In terms of crop type, the GMO crops and seeds market is divided into corn, cotton, sugar beets, papaya, apple, soybean, alfalfa, sugar beets, zucchini, and potato. Among all, corn is predicted to display maximum growth in the GMO crops and seeds market over the forecast period. This is because GMO corn is widely used as an insecticide owing to its efficacy as an insect repellant. In 2017, corn held a whopping 37.8% of the overall market.
By trait, the key segments into which the GMO crops and seeds market is divided are herbicide tolerance and insect tolerance. By sales channel, the global GMO crops and seeds market is divided into modern trade, direct sales, convenience store, and e-retailers.
Extensive use of GMO Crops as Insect Repellant in U.S pushes North America to fore
Geography-wise, the global GMO crops and seeds market is divided into North America, Europe, Japan, Asia Pacific except Japan, and the Middle East & Africa. Among all, North America currently holds supremacy in the global GMO crops and seeds market, and is expected to retain its position through the forecast period.
However, Europe is expected to surpass vis-à-vis growth rate over the forecast period.
Key companies operating in the global GMO crops and seeds market include DOW Agrosciences LLC, Syngenta AG, BASF SE, Monsanto Co., KWS SAAT SE, E.l. du Pont de Nemours & Co., Canterra Seeds Holdings Ltd., Bayer Crop Science India Ltd, Groupe Limagrain Holdings Corp, Land O’ Lakes Inc., Sakata Seed Corp., Takii Seeds, Agreliant Genetics LLC, and DLF Seeds and Science.
Global GMO Crops and Seeds Market: Overview
Genetically modified (GMO) crops and seeds offer a host of advantages of which advantages of increased agricultural productivity and reduced need of environmentally harmful pesticides are prominent ones. The reduced availability of arable land is leading to the use of GMO crops and seeds to speed up crop production.
GMO seeds offer premium characteristics to increase agricultural output, enable longer shelf life, and offer greater resistance to insects. Manufacturers of GMO crops and seeds are developing new GM crops that not only offer resistance to pests and diseases, but also offer increased tolerance to herbicides such as vitamin A-fortified rice and wheat, pesticides such as cowpea and beans, and drought tolerant biofortified bananas and maize.
GMO crops and seeds are not proven to be harmful to humans, but research suggests that modified crops may negatively impact food chains and the environment. These factors have led to a mixed response among farmers about the adoption of GMO crops and seeds.
GMO crops may pose health hazards that range from toxicity to increased risk of allergies, however, regulations in place to ensure adequate safety of GM technologies go too far.
Global GMO Crops and Seeds Market: Market Segmentation
In this report, the global GMO crops and seeds market is studied on the basis of crop type, trait, sales channel, and geography. On the basis of crop type, the global GMO crops and seeds market is classified into corn, soyabean, cotton, alfalfa, sugar beets, zucchini, papaya, potato, apple and others. Corn represents the leading crop type segment in the global GMO crops and seeds market. This is because large volume of corn produced in developed countries is genetically modified, which is further engineered to produce a soil bacterium which is an effective insecticide.
In terms of trait, the segments of the global GMO crops and seeds market are herbicide tolerance, insect tolerance, and other traits. On the basis of sales channel, direct sales, modern trade, e-retailers, and other retail outlets are the segments that divide the global GMO crops and seeds market in this report.
The report divides the global GMO crops and seeds market into the regions of North America, Europe, Latin America, Asia Pacific except Japan, Japan, and the Middle East and Africa.
On the basis of geography, North America tops among other regional markets for GMO crops and seeds vis-à-vis revenue. The regional market of North America is expected to expand at a significant growth rate over the 2017- 2022 forecast period and continue to remain the most attractive regional market.
However, Europe is expected to surpass in terms of growth rate for the forecast period between 2017 and 2022.
Global GMO Crops and Seeds Market: Competitive Analysis
The report profiles leading players for GMO crops and seeds for their distinguishing business attributes and provides market share analysis of key players partaking in the global GMO crops and seeds market. Some of the leading players in the global GMO crops and seeds market are BASF SE, DOW Agrosciences LLC, KWS SAAT SE, Monsanto Co., Syngenta AG, E.l. du Poant de Nemours & Co, Bejo Zaden BV, DLF Seeds and Science, Bayer Crop Science India Ltd, Groupe Limagrain, Land O’ Lakes Inc., Sakata Seed Corp, Takii Sedds, Agreliant Genetics LLC, and Canterra Seeds Holdings Ltd.
The report includes an evaluation of stakeholder winning strategies by segmenting the global GMO crops and seeds market as below:
GMO Crops and Seeds Market, Crop Type
- Sugar Beets
GMO Crops and Seeds Market, Trait
- Herbicide Tolerance
- Insect Tolerance
GMO Crops and Seeds Market, Sales Channel
- Direct Sales
- Modern Trade
- Other Retail Outlets
GMO Crops and Seeds Market, By Region
- North America
- Latin America
- Asia Pacific except Japan
- Middle East and Africa