Transgenic Seeds Market: Segmented: By Trait (Herbicide Tolerance, Insect- Resistance, Others), By Crop Type (Maize, Corn, Soybean, Cotton, Canola, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Transgenic Seeds Market to surpass USD 136.9 billion by 2032 from USD 39.29 billion in 2021 at a CAGR of 12% in the coming years, i.e., 2022-32.
Transgenic are also known as ‘genetically-modified’ crops. These types of crops are created when genes, the hereditary units of living things, are moved into a plant from another species. One of two genetically altered features are present in the majority of transgenic crops: resistance to herbicide or an insecticidal toxin from the "B.t." bacteria. However, other traits that are bioengineered into commercially accessible crop plants include viral resistance, altered oil content, and altered ripening. Many of the concerns about transgenic crops in agriculture are different from the genetically modified medicines, animals, and industrial items since they interact with the natural environment on a huge scale. Farmers profit from transgenic crops in the form of lower production costs and increased yields.
The Transgenic Seeds Market is expected to project a notable CAGR of 12% in 2032.
The growing global population and food demands, the rising expense of pesticides and fertilizers, and the convenience of residue management are the driving reasons for the Transgenic Seeds Market. Numerous factors contributed to the popularity of transgenic seeds, including rising seed costs, the development of high-quality agricultural products, rising crop rotation rates, and increased farmer awareness of the rising toxicity of agrochemicals. In addition, a greater global effort to maximize the production is driving farmers to use transgenic seeds.
The Herbicide Tolerance segment is expected to grow with a higher CAGR during 2022-32
Transgenic Seeds Market is categorized on the basis of Trait into Herbicide Tolerance, Insect- Resistance, and Others. The herbicide tolerance segment held the higher revenue share in 2019, and it is anticipated to continue the position throughout the projected period. Farmers are seriously threatened by weeds. Controlling weed invasions on crops has therefore become more crucial. The ability of plants to endure a certain chemical pesticide is known as herbicide tolerance, and it enables farmers to eradicate weeds without endangering their crops. The majority of plants have a built-in tolerance to specific herbicides, and it is due to built-in resistance that create agricultural crop types with broad-spectrum resistance. This makes it possible for farmers to employ fewer treatments of a single herbicide, increasing the effectiveness and adaptability of the weed-killing procedure.
The Maize segment is expected to grow with a higher CAGR during 2022-32
Transgenic Seeds Market is categorized on the basis of Crop Type into Maize, Corn, Soybean, Cotton, Canola, and Others. Maize sector held the highest share of the global Transgenic Seeds Market during the forecast period. The main factor fueling the segment's expansion is the high demand for maize. Due to its herbicide tolerance and insect resistance features, the US consumes the most transgenic maize seeds.
Growing Worldwide Adoption of Sustainable Agricultural Techniques
The widespread use of sustainable agriculture methods has led to a huge increase in the Transgenic Seeds Market. In comparison to conventional crops, GM seeds have a higher agricultural yield, making them the favored option among farming communities. Also, increased research in bio-fortification, accurate DNA integration, and stress tolerance in transgenic crops are anticipated to increase productivity in commercial agriculture, ultimately impacting market growth.
Increasing Demand for Food, and Tough Competition among Players
During the forecast period, a growing worldwide need for food and a growing population are anticipated to drive the Transgenic Seeds Market. In terms of product quality and variety, there is fierce competition among market competitors. The opportunity for the players to prioritize innovation and product quality in order to increase their customer base is presented by the growing need for food supplies around the world. In order to compete in the market, manufacturers are focusing on launching new and innovative products as well as a number of global expansion strategies.
Environmental Concerns and Strict Government Regulation for GM Seeds
The Transgenic Seeds Market is constrained by severe government laws and environmental concerns related to GM seeds. Most food for humans and animals, including GMO foods, is governed by the FDA. Foods that are genetically modified or contain GMO components must adhere to the same high safety requirements as all other foods, according to FDA. No matter how the food is made, producers, processors, retailers, shippers, or sellers must adhere to FDA-set and -enforced food safety regulations. The usage of GM seeds is also being restricted as consumer preferences for naturally grown food products change.
Transgenic Seeds Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is anticipated to grow at a significant CAGR during the forecast period and register the larger market share for Transgenic Seeds globally. The US is the main market driving the growth of the local market. The demand for transgenic seeds in the area is increasing as a result of technological breakthroughs and significant investments in agricultural activities. The main transgenic crops grown in the US are soy, canola, maize, and cotton.
The COVID-19 epidemic and the restrictions forced by governments to protect their people have the potential to impose limitations on seed production, international trade, and certification with major negative effects on farmers and the world food supply chain. Before travel restrictions were imposed, the majority of seeds had already reached its various countries during spring and fall, however it is uncertain whether seeds needed for such seasons will arrive on time after the pandemic.
Transgenic Seeds Market is further segmented by region into:
Transgenic Seeds Market Segments:
|Market Size Value in 2021||USD 39.29 billion|
|Revenue Forecast in 2032||USD 136.9 billion|
|Growth Rate||CAGR of 12% from 2022 to 2032|
|Base Year for Estimation||2021|
|Quantitative Units||Revenue in USD million and CAGR from 2022 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Trait, Crop Type, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key Companies Profiled||BASF SE, Suntory Holdings Ltd., Dow AgroSciences LLC, DuPont, Syngenta AG, Vilmorin & Cie SA, Bayer CropScience AG, Monsanto, Maharashtra Hybrid Seed Company, JK Agri Genetics Ltd, Bejo Zaden B.V, Kaveri Seed Co Ltd, Groupe Limagrain, Land O' Lakes, DLF-Trifolium, and Other Prominent Players.|
The Transgenic Seeds Market size was estimated at USD 39.29 billion in 2021 and is expected to reach USD 136.9 billion in 2032.
Transgenic are also known as ‘genetically-modified’ crops. These types of crops are created when genes, the hereditary units of living things, are moved into a plant from another species.
The Herbicide Tolerance and Maize segments accounted for the larger share of the Transgenic Seeds Market.
Key players in the Transgenic Seeds Market are BASF SE, Suntory Holdings Ltd., Dow AgroSciences LLC, DuPont, Syngenta AG, Vilmorin & Cie SA, Bayer CropScience AG, Monsanto, Maharashtra Hybrid Seed Company, JK Agri Genetics Ltd, Bejo Zaden B.V, Kaveri Seed Co Ltd, Groupe Limagrain, Land O' Lakes, DLF-Trifolium, and Other Prominent Players.
The growing global population and food demands, the rising expense of pesticides and fertilizers, and the convenience of residue management are the driving reasons for the Transgenic Seeds Market.
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