GMO Soybean Market Predictions Highpoint Enhanced Sales during Forecast Period
Posted by Arslan on June 25th, 2019
In order to dissert the market scenario prevailing across the GMO soybean market sector, FactMR has evenly presented a comprehensive GMO soybean market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the GMO soybean market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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Genetically modified organisms (GMO) soybeans have gained immense traction in the recent past, owing to their potential to alleviate hunger and poverty worldwide. However, researchers from the Food and Agriculture Program have stated that real impacts of GMO soybean deserve in-depth assessment. Amount of agricultural land utilized for producing GMO food such as GMO soybean has surged over the past few years, with majority of producers being situated in the U.S., Canada, India, Brazil and Argentina.
GMO soybeans have their genetic materials engineered via biotechnologies for engulfing enhanced and new characteristics such as drought tolerance, enhancement of certain nutrients, insect resistance and herbicide tolerance. Benefits of utilizing biotechnologies for production of GMO soybeans include saving efforts & time and curtailing market risks for farmers, rather than enhancing productivity by improving yield. Currently, demand for GMO soybeans is primarily driven by rapid adoption in animal feed as well as in the form of GMO soybean oil worldwide. Although cultivating herbicide-tolerant soybean has lower risks to environment, the benefits are being restrained by herbicide resistance being developed in weeds. GMO soybeans are one of the most utilized genetically modified plants across the globe, with majority of the applications in livestock feed and oil production. With demand for soybeans increasing globally as a protein source, GMOs hold potential benefits for producers.
According to FactMR, the global GMO soybean market will register a splendid 14.3% CAGR during the period 2017 to 2026. Approximately 600,000,000 metric ton of GMO soybean will be sold around the world by 2026-end.
The European Commission has approved an array of GMO products such as GMO soybeans, although the pace of approvals has been relatively slow. European livestock and feed manufacturing industry has a keen interest in authorization of GMO soybean imports, as soybean is considered to be a source of high-quality and protein-rich feed. Europe will remain the second largest market for GMO soybean, in terms of volume as well as value.
Food is expected to remain the largest application of GMO soybean, in terms of value. Revenues from sales of GMO soybean for application in food are projected to account for nearly half market share by 2026-end. Biodiesel and feed will also remain lucrative applications of GMO soybean.
In terms of value, direct sales are anticipated to be the fastest expanding sales channel for GMO soybean, closely trailed by modern trade. These two sales channel will spearhead the global market for GMO soybean during the forecast period, in terms of revenues. Based on trait, stacked (HT+IT) and herbicide tolerant GMO soybean will remain sought-after in the market, with revenues collectively estimated to surpass US$ 320,000 Mn by 2026-end.
Key market players tracked by the report include AgReliant Genetics LLC, BASF SE, Bayer CropScience, Dow Agroscience, E.I DuPont De Nemours and Company, Canterra Seeds Holdings Ltd., Syngenta AG, Groupe Limagrain Holdings SA, and Monsanto Company.
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About the AuthorArslan
Joined: December 18th, 2017
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