Global Genetically Modified Seeds Market is expected to reach USD 39.6 billion b
Posted by rohan on February 9th, 2018
The Global Genetically Modified Seeds Market was worth USD 24.8 billion in 2017 and estimated to be growing at a CAGR of 9.8%, to reach USD 39.6 billion by 2022. Genetically modified seeds are the seeds that are used in farming. Their DNA is modified by using genetic engineering procedures. Mostly, the target is to induce a new trait into the crop which is usually absent in the species.
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The growth of the genetically modified seeds market can be attributed to the increase in adoption of biofuels, growth of global population and the consequent food demand, growing demand for animal feed, and preference for oleo-chemicals. Growing acceptance of biotech drought-tolerant plants and increasing demand for high yield crops are also considered to be the driving factors of this market.
The Global Genetically Modified Seeds Market is segmented based on Crop Type into Corn, Soybean, Cotton, Canola, and Others. Based on Trait Type, the market is segmented into Herbicide tolerance, Insect resistance and others.
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The Global genetically modified seeds market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. As of 2016, North America dominated the global Genetically Modified Seeds Market with a market share of around 30% globally.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Genetically Modified Seeds Market are ayer CropScience, DowDuPont, Groupe Limagrain, Monsanto and Syngenta, BASF, DLF Seeds and Science, Kleinwanzlebener Saatzuch SAAT SE, Land O'Lakes, Sakata Seed, and Takii Seed.
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About the Authorrohan
Joined: September 20th, 2017
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