Genetically Modified Crops Market, By Crop Type (Corn, Soybean, Cotton, and Others), By Trait Type (Herbicide Tolerance, Insect Resistance, and Stacked Traits), By Application (Food and Feed, Biofuels, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Sep 2024

Code : CMI3495

Pages :160

Formats :

Excel and PDF

Industry : Food and Beverages

Regional Analysis

Genetically Modified Crops Market Regional Insights

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North America's dominance in the global genetically modified crops market can be attributed to several factors with 40.1% share in 2024. The U.S. and Canada have been at the forefront of the adoption and commercialization of GM crops, driven by supportive regulatory frameworks, extensive research and development efforts, and the presence of major agricultural biotechnology companies. Farmers in these countries have readily embraced GM crops due to the benefits they offer, such as improved crop yields, enhanced pest and disease resistance, and reduced reliance on traditional pesticides and herbicides.

In contrast, the Asia Pacific region is the fastest-growing market for GM crops, driven by the increasing demand for food and the need to enhance agricultural productivity. Countries like China, India, and Brazil have made significant strides in the development and adoption of GM crops, particularly for staple food crops like corn, soybean, and cotton. The growing population, rising incomes, and the need to address food security concerns have contributed to the rapid expansion of the genetically modified crops in the Asia pacific region.