Various technological advancements in gene editing and plant breeding have enabled scientists to modify plant genomes and develop crops with desired traits. Genetically modified or transgenic crops allow enhancing crop yields, nutritional qualities, resistance to herbicides and pests. Rising population and need for sustainable food supply are major factors are fueling the demand for genetically modified crops globally. Countries like the U.S., Brazil, Argentina, India, and Canada have widely commercialized GM crops. However, safety concerns regarding effects on human health and environment still remain a challenge. Overall, the global genetically modified crops market is expected to grow further with ongoing R&D and new product approvals.
Market Dynamics:
The key drivers boosting the global genetically modified crops market include growing population exerting pressure on limited food production, need for higher crop yields, and changing climate conditions making conventional farming difficult. Reduced use of agrochemicals and pesticides with herbicide tolerant GM crops along with higher profits for farmers are also propelling the market growth. However, stringent regulations around the safety of genetically modified crops and negative public perception around long term effects act as restraints. Rising investments in developing biotech traits for new varieties through gene editing can open up new opportunities. Genetically engineered drought tolerant and insect resistant corn and soybean varieties have widespread adoption in major GM crop countries such as India and others.
Key Features of the Study:
- This report provides in-depth analysis of the global genetically modified crops market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global genetically modified crops market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Bayer CropScience, BASF SE, Syngenta, Corteva Agriscience, Monsanto (now part of Bayer), DowDuPont, J.R. Simplot Company, Maharashtra Hybrid Seed Company (Mahyco), JK Agri Genetics Ltd., KWS SAAT SE & Co. KGaA, Land O'Lakes, Inc., Limagrain, Cibus, FMC Corporation, GenTech Seeds Pty Ltd., Pioneer Hi-Bred International (a subsidiary of Corteva), and Hawaiian Commercial & Sugar Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global genetically modified crops market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global genetically modified crops market
Detailed Segmentation-
- Crop Type Insights (Revenue, USD Bn, 2019 - 2031)
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- Corn
- Soybean
- Cotton
- Others
- Trait Type Insights (Revenue, USD Bn, 2019 - 2031)
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- Herbicide Tolerance
- Insect Resistance
- Stacked Traits
- Application Insights (Revenue, USD Bn, 2019 - 2031)
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- Food and Feed
- Biofuels
- Others
- Regional Insights (Revenue, USD Bn 2019 - 2031)
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- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Bayer CropScience
- BASF SE
- Syngenta
- Corteva Agriscience
- Monsanto (now part of Bayer)
- DowDuPont
- R. Simplot Company
- Maharashtra Hybrid Seed Company (Mahyco)
- JK Agri Genetics Ltd.
- KWS SAAT SE & Co. KGaA
- Land O'Lakes, Inc.
- Limagrain
- Cibus
- FMC Corporation
- GenTech Seeds Pty Ltd.
- Pioneer Hi-Bred International (a subsidiary of Corteva)
- Hawaiian Commercial & Sugar Company
