Surging demand for healthy food is driving the growth in Global Genetically Modified Crops Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Genetically Modified Crops Market By Trait (Herbicide Tolerance, Insect Resistance, Stacked Traits, Others) By Technique (Gene Guns, Electroporation, Microinjection, Agrobacterium, Others) By Type of Modification (Transgenic, Cis-genic, Sub-genic, Multiple Trait Integration) By Crop Type (Soybean, Cotton, Maize, Oilseed Rape, Canola, Alfalfa, Others) By Application (Scientific Research v/s Agriculture Crops) By Region, Competition Forecast & Opportunities, 2026”, the global genetically modified crops market may potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of rising demand for healthier crops and to promote advanced farming methods. Moreover, the crop yielding capacity of the genetically modified crops is much more than the general crops and the fact alone is aiding the market growth to impressive CAGR in the next five years. Furthermore, the changing lifestyle, and degrading environmental conditions have substantiated the need for genetically modified crops that can over come the drawbacks and provide enough feed and fodder thus supporting the growth of the global genetically modified crops market in the subsequent five years of forecast until 2026.
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The global genetically modified crops market is segmented by trait, technique, type of modification, crop type, application, competitional landscape, and regional distribution. Based on crop type, the market is further segmented into soybean, cotton, maize, oilseed rape, canola, alfalfa, and others. Soybean crops have proven to be the most growing sub-segment in the historical years. The soybean genetically modified crops are anticipated to dominate the market and may register the largest revenue shares of the market on the account of its importance in the various sectors like genetical modification technology in the agricultural sector. The genetically modified soybean crops have more yield, and therefore provide with more products as compared to the unmodified crops. Also, the use of genetically modified soybean in the artificial meat, or plant substitute meat is aiding to the growth of the market in the upcoming five years.
Based on type of modification, the market is further fragmented into transgenic, cis-genic, sub-genic, and multiple trait integration. Transgenic modifications are done with one or more DNA sequences from different species through artificial methods. Alteration of DNA sequence by injecting foreign DNA is carried out and therefore modify the crop. Cis-genic alterations involve alterations from same species or similar origin of the plants.
Based on trait, the market is further bifurcated into herbicide tolerance, insect resistance, stacked traits, and others. Herbicide tolerance is a plants ability to withstand chemical herbicides that is incorporated in the genetically modified crops through genetical alteration processes. These crops can withstand the harmful effects of herbicides, while the unwanted herbs that are non-genetically modified die under the effects. Some types of plants/ crops are naturally resistant toward herbicides and the scientists working on the genetically modified crops utilizes the property of these plant and incorporate in others thereby supporting their un-altered growth. Insect resistance trait works on a similar fashion though they aid the plant growth that is hindered due to insects. The global genetically modified crops market is anticipated to register the growth on the added advantages of the above traits thereby providing maximum yields to the crops.
Holding the major shares of the global genetically modified crops market are BASF SE, Mosanto Company, Bayer CropScience LLC, Syngenta AG, The Dow Chemical Company, DuPont de Nemours, Inc., Groupe Limagrain Holdings Corporation, JR Simplot Co., JKAgri Genetics Ltd., Maharashtra Hybrid Seed Company Private Limited, Calyxt Inc, Stine Seed Farm, Inc, Nuseed Pty Ltd. (Nufarm), Canterra Seeds Holdings Ltd., Sakata Seed Corporation, among others. Market players are actively involved in the research and technological development in the agricultural sector and commodities’ developments. The advanced technology has made it possible for the agriculture industry to provide excellent agricultural products, like modified seeds, fertilizers and crops. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is the most flourishing region in terms of global genetically modified crops market. The market is expected to register its growth on the account of developing cut-throat technology and extensive research being conducted to improve the crop yield and quality. Also, Asia-Pacific region is anticipated to register the fastest growing market region. Most of the research and development is being carried out in the region and the presence of the multiple market players is further supporting the growth of the market in the subsequent years of forecast. New market players may focus on the requirement from the farming sectors and farmers to deliver the actual needed products. South America is anticipated to register significant growth in the market owing to the established market and the abundant presence of market players in the region. Also, research is a major factor for the growth therefore investing in the research and development may be the major reason behind establishment of new market in various countries,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Genetically Modified Crops Market By Trait (Herbicide Tolerance, Insect Resistance, Stacked Traits, Others) By Technique (Gene Guns, Electroporation, Microinjection, Agrobacterium, Others) By Type of Modification (Transgenic, Cis-genic, Sub-genic, Multiple Trait Integration) By Crop Type (Soybean, Cotton, Maize, Oilseed Rape, Canola, Alfalfa, Others) By Application (Scientific Research v/s Agriculture Crops) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global genetically modified crops and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global genetically modified crops market.
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