Genetically modified (GM) crops and seeds are a significant leap in modern practices of agricultural production. GM crops and seeds have been modified to display specific characteristics such as resistance to pests and tolerance to herbicides and have the capacity to address weather fluctuations and other challenges in the production of agricultural crops. The development of GM crops and seeds involves modifying the DNA using genetic engineering methods with the objective to introduce a new trait which does not occur naturally in the species.
The reaction of farmers to the new variant of seeds and crops has been mixed. While some farmers have been receptive about genetic crop improvement, others have been mindful of the controversy surrounding GM products related to health and environmental impacts.
According to Transparency Market Research, the global GMO crops and seeds market will display moderate growth for the forecast period between 2017 and 2022. Vis-à-vis revenue, the global GMO crops and seeds market is expected to be worth US$36,653.2 mn by the end of 2022 expanding at a CAGR of 8.3% between 2017 and 2022. The research report presents detailed insights how the global GMO crops and seeds market is expected to tread until the end of 2022.
Key Insights on GMO Crops and Seeds Market
- Among the key segments based on crop type, corn accounts for a significant share iofthe global GMO crops and seeds market. The corn crop type segment was valued at US$9,293.1 mn in 2017 that represented 37.8% of the market in the same year. Expanding at a CAGR of 8.2% between 2017 and 2022, the corn crop type segment is expected to display declined share over the forecast period. The segment is expected to attain a value of US$13,776.1 mn by the end of 2022 to represent 37.6% of the market.
- The year on year growth of the corn segment in absolute value is US$896.6 mn which is larger than any other crop type segment.
- North America stood as the leading regional market for GMO crops and seeds and the trend is expected to continue over the forecast period. Expanding at an attractive CAGR of 7.6% between 2017 and 2022, the region is anticipated to attain a value of US$13,948.8 mn by the end of 2022 from US$9,649.5 mn in 2017.
- Europe is expected to display a significant CAGR of 9.2% over the forecast period between 2017 and 2022. At this rate, the region is expected to attain a valuation of US$11,226.3 mn by the end of 2022.
- The regional segment of Asia Pacific except Japan (APEJ) accounts for a substantial revenue contribution to the global GMO crops and seeds market. Expanding at a CAGR of 7.6% over the forecast period between 2017 and 2022, the region is anticipated to reach a valuation of US$5,113.3 mn by the end of 2022. Japan GMO crops and seeds market is anticipated to present an opportunity of US$773.5 mn between 2017 and 2022.
- The Middle East and Africa GMO crops and seeds market is projected to be worth US$1,193.8 mn by the end of 2022, expanding at a CAGR of 7.4% between 2017 and 2022.
The report profiles key companies that have significant presence in the global GMO crops and seeds market, which include BASF SE, Bayer Crop Science India Ltd, DOW Agrosciences LLC, Groupe Limagrain Holdings Corp, KWS SAAT SE, Land O’ Lakes Inc, Monsanto Co., Sakata Seed Corp, Syngenta AG, Takii Seeds, E.l. du Pont de Nemours & Co, Agreliant Genetics LLC, Bejo Zaden BV, Canterra Seeds Holdings Ltd, and DLF Seeds and Science.
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