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This market research report identifies players like Bayer, DowDuPont, Groupe Limagrain, Monsanto, and Syngenta to be the key vendors in the GM seeds market. This research report also presents a detailed segmentation of the market by product (corn, soybean, cotton, canola, and others), by traits (herbicide tolerance, insect resistance, and others), and by geography (APAC, Europe, North America, and ROW).
According to Technavio’s market research analysis, the global genetically modified (GM) seeds market will grow at a CAGR of almost 10% by 2020. GM seeds occupy more than 50% of the global commercial seeds market and include seeds like corn, soybean, cotton, canola, sugar beet, and wheat. These seeds have improved traits like high yields and resistance to adverse environmental conditions, pests, and herbicides. The genetically-modified seeds offer premium characteristics to increase yields, enable longer shelf life, and greater resistance to insects. The reducing size of arable land is the major growth driver for the implementation of GM crops, which will speed up the crop production process. Vendors in the market are coming up with several new GM crops which offer multiple modes of resistance to pests and diseases and increased tolerance to herbicides such as Vitamin A-enriched rice and wheat, drought tolerant maize, biofortified bananas, and pest resistant cowpea and beans.
North America will continue to dominate the market during the forecast period and is likely to occupy around 30% of the total market share by 2020. The growing adoption of biotechnology in agricultural practices is one of the latest developments in the North American market. With various advancements in GM seeds, this market has become innovative and is providing solutions to farmers for several environmental conditions like drought, salinity, and disease stress that affect the yield and production of many crops. The growing demand for GM corn and soybean seeds with HT and IR traits will help the market grow steadily in this region.
The global GM seeds market is highly fragmented and consists of a vast number of large- and mid-sized competitors, who are focusing on advanced technological methods to produce GM seeds. The market is dominated by well-established players who compete in terms of quality, price, brand, and variety. Several players in the market are developing new production plants or acquiring existing players to increase their production capacity, which will enable them to meet the growing demand for food. The practice of sustainability is necessary for future production and is practiced by all the major vendors in the market.
Leading vendors in the market are -
Other prominent vendors in the GM seeds market include BASF, DLF Seeds and Science, Klein Wanzlebener Saatzuch (KWS), Land O' Lakes, Sakata, and Takii Seed.
Corn occupies around 36% share of the overall market and will dominate the market during the forecast period. The rise in the demand for corn and its production can be attributed to its increased use as a feed for livestock and in the production of ethanol. Corn’s multifaceted nature has boosted its production on the second-most acreage in the world after wheat. Farmers meet the requirements of corn by increasing the production through a combination of improving yields and adding more farmland. The segment is expected to post a CAGR of almost 10% during the forecast period.
The herbicide-tolerant (HT) segment dominated the GM seeds market in 2015 and accounted for around 70% of the total market share. The HT traits in GM crops provide farmers with an important tool to fight unwanted weeds and are compatible with no-till methods that help preserve the topsoil. These traits offer farmers the flexibility to use herbicides. HT traits are largely practiced in crops like corn, soybean, cotton, canola, alfalfa, wheat, and sugar beet seeds. The segment is anticipated to grow at a CAGR of around 10% by 2020, aiding to the growth of the overall market in the coming years.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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