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The Genetically Modified (GM) Seeds Market size is forecast to increase by USD 12.80 billion, at a CAGR of 7.08% between 2023 and 2028.
Moreover, the market in North America experiences rapid growth due to extensive adoption and innovative advancements in agricultural biotechnology. BASF SE provides genetically modified seeds, offering benefits such as mitigating soil erosion and preserving biodiversity. This market shows promising trends with a focus on convenience, consumer preferences, and global consumption patterns. Forecasts and analysis indicate a steady rise in market demand and highlight the significant role of biotechnology in shaping the agricultural sector.
The market shows an accelerated CAGR during the forecast period.
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The rising adoption of GM seeds in biofuels is notably driving the market. The global market is experiencing a rise in adoption driven by the growing demand for biofuels. In addition, with an increasing emphasis on reducing greenhouse gas emissions and mitigating climate change, biofuels derived from GM crops such as corn, soybean, and sugarcane are gaining prominence as renewable energy sources.
Moreover, GM seeds engineered for higher yields and enhanced traits such as oil content and biomass are driving the expansion of biofuel production worldwide. For example, bioethanol derived from GM corn is widely used as a fuel additive, while biodiesel from GM soybean and canola provides an alternative to fossil fuels in transportation and industrial sectors. Hence, such factors are driving the market during the forecast period.
Integration of digital agriculture and data analytics in the GM seeds industry is an emerging trend in the market. The integration of digital agriculture and data analytics emerges as a significant driver in the global market, transforming agricultural practices and improving the value proposition of GM seeds. In addition, digital agriculture leverages advanced technologies such as satellite imaging, drones, sensors, and precision farming equipment to collect vast amounts of data related to soil health, weather patterns, crop growth, and pest infestations.
Moreover, data analytics algorithms then process this information to provide actionable insights and optimize decision-making processes for farmers. In addition, in the context of GM seeds, digital agriculture facilitates the efficient management and monitoring of GM crops throughout their lifecycle. Furthermore, farmers can utilize data-driven insights to tailor cultivation practices, optimize input usage, and maximize the performance of GM seed varieties. Hence, such factors are driving the market during the forecast period.
The emergence of new technologies poses a threat to traditional technologies used in GM seeds and is a major challenge hindering the market. The usage of GM seeds will be limited when new technologies emerge, including vertical farming. In addition, all that is needed for plants to grow on tall vertical towers is to control moisture and continuous light. Furthermore, vertical farming is a new idea that avoids the need for pesticides, synthetic fertilizers, herbicides, and GM organisms (GMOs).
Moreover, the process of growing food on vertically inclined surfaces is known as vertical farming. In addition, instead of growing vegetables and other crops on a single level such as in a field or a greenhouse, this approach grows them in vertically stacked layers, which are frequently integrated into other buildings such as skyscrapers, shipping containers, or converted warehouses. Hence, such factors are hindering the market during the forecast period.
The advantage of the herbicide tolerance segment will increase the market. Herbicide tolerance is a main trait in the global market, allowing crops to withstand applications of specific herbicides while suppressing weed growth. In addition, this trait is typically achieved through genetic modification, where crops are engineered to produce enzymes that detoxify or resist the herbicides active ingredients. Moreover, glyphosate-resistant crops, notably offered by Monsanto and operated by Bayer AG, are among the most widespread herbicide-tolerant varieties. In addition, these crops can withstand glyphosate-based herbicides such as Roundup, facilitating effective weed control without harming the cultivated plants. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
The market is a dynamic landscape shaped by advancements in Agricultural Sciences and genetic engineering techniques. GM seeds offer numerous benefits such as High yield and Insect resistance, making them increasingly popular among farmers. GM crops like Soybean, Corn, and Cotton are engineered to exhibit traits like Herbicide tolerance and Insect resistance, providing farmers with effective solutions to combat Insect pests and Weeds while boosting crop yield. Techniques like Gene Splicing and Gene Silencing are utilized in labs to modify the Genetic Makeup and enhance Genetic Features in organisms. GM seeds are often designed to withstand herbicides through Herbicide tolerance, reducing the need for manual weed control and contributing to higher yields. This is achieved through methods like gene gun technology and utilizing viral carriers such as agrobacterium tumefaciens for genetic modification.
The corn segment is estimated to witness significant growth during the forecast period. Corn dominated the global market due to increased demand for corn, which is mainly used in the production of ethanol as well as livestock feed. In addition, corn is used as a primary feedstock for ethanol production; according to USDA estimates, the United States produced 15.1 billion bushels of corn in the 2022 harvest year, which was 7% higher than the 2020 harvest year.
The corn segment was the largest segment and was valued at USD 8.75 billion in 2018.
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Moreover, corn yield in the United States in 2022 reached a record high of 177.0 bushels per acre, 5.6 bushels higher than the 2020 yield of 171.4 bushels per acre. In addition, corn is also used for industrial purposes such as medicines, plastics, and biofuels. Furthermore, corn's multifaceted nature has boosted its production on the second-most acreage in the world after wheat. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
North America is estimated to contribute 31% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The US and Canada are the main contributors to GM seed production and utilization in North America. In addition, in the US, GM crops such as soybeans, corn, cotton, and canola dominate agricultural landscapes, with the majority of these crops being genetically engineered for traits such as herbicide tolerance and insect resistance. Moreover, the widespread adoption of GM seeds in the US is driven by factors such as the need for enhanced crop productivity, weed, and pest management solutions, and the desire for reduced environmental impact through decreased chemical usage. In addition, Canada also plays a significant role in the regional market, particularly in canola production. Furthermore, GM canola varieties, engineered for traits such as herbicide tolerance, have become a staple crop in Canadian agriculture, contributing to increased yields and profitability for farmers. Hence, such factors are driving the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Corteva Inc., FMC Corp., HSR Seeds, JK Agri Genetics Ltd., KWS SAAT SE and Co. KGaA, Land O Lakes Inc., Limagrain, GenTech Seeds Pty Ltd, Rasi Seeds P Ltd., Royal Barenbrug Group, Sakata Seed Corp., Stine Seed Co., Syngenta Crop Protection AG, Takii and Co. Ltd., Tata Sons Pvt. Ltd., Terranova Seeds Australia, and UPL Ltd.
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The research report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
The market is driven by innovations aimed at enhancing crop yield and addressing challenges such as insect pests, weeds, and poor agricultural production. Technologies like the Rc gene, gene gun, and agrobacterium tumefaciens enable the development of crops with improved traits like insect resistance, herbicide tolerance, and drought resilience. These advancements lead to high-yield cultivated crops like rice, canola, sugar beet seeds, and maize. Genetic modification methods such as gene splicing and gene silencing are employed to alter the genetic makeup and features of organisms, resulting in improved nutritional value and reduced crop damage from diseases and pests. The market also focuses on extending the shelf life of crops and producing oleo-chemicals for various applications. Despite concerns about food safety and environmental impact, genetically modified seeds continue to play a significant role in enhancing food production and sustainability in the agricultural sector.
Moreover, the market is a crucial segment within the agricultural industry, driven by the pursuit of high yield and improved agricultural practices. Researchers and experts in Agricultural Sciences are constantly exploring genetic modification to enhance crop traits and address various challenges faced by farmers. One significant area of focus is the development of GM crops like rice and canola, rice crop designed to exhibit traits such as herbicide tolerance, salinity resistance, and virus resistance, as seen in virus-resistant papaya. These modifications often involve altering Genetic Features within the organism's DNA using advanced lab techniques like gene splicing and introducing Genetic Modification through viral carriers. One of the key advantages of genetically modified seeds is their ability to produce improved yields compared to conventional or natural seeds. This is particularly important in regions with limited arable land or facing agricultural land degradation. Additionally, GM crops can reduce the reliance on synthetic chemicals, addressing concerns about food safety and environmental impact related to their usage.
Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market Growth 2024-2028 |
USD 12.80 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.05 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, Canada, India, Brazil, and Argentina |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BASF SE, Bayer AG, Cibus, Corteva Inc., FMC Corp., HSR Seeds, JK Agri Genetics Ltd., KWS SAAT SE and Co. KGaA, Land O Lakes Inc., Limagrain, GenTech Seeds Pty Ltd, Rasi Seeds P Ltd., Royal Barenbrug Group, Sakata Seed Corp., Stine Seed Co., Syngenta Crop Protection AG, Takii and Co. Ltd., Tata Sons Pvt. Ltd., Terranova Seeds Australia, and UPL Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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