The global genetically modified crops market size is expected to grow from $19.70 billion in 2021 to $21.05 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The global GM crops market size is expected to grow to $26.35 billion in 2026 at a CAGR of 5.8%.
What is the Global Genetically Modified Crops Market?
The genetically modified crops market consists of sales of genetically engineered crops and related services. The term genetically modified refers to the transfer of genes between organisms using a series of laboratory techniques known as recombinant DNA technology. Genetically modified (GM) or genetically engineered crops are plants with new trait which does not occur naturally such as resistance to pests, improved nutrient profile, reduction in spoilage, and resistance to chemical treatments. The GM crops which are grown commercially include sugar beet, papaya, maize, potato, oilseed rape, cotton, and others.
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What drives the Global Genetically Modified Crops Market?
The genetically modified (GM) crops have traits such as insect tolerance and herbicide tolerance that contribute to the high demand for such crops. Other benefits offered by genetically modified crops include high nutritional value, improved yield, and longer shelf life. Owing to these reasons, farmers are resorting to GM crops to increase their yields and profits. According to the U.S. Department of Agriculture (USDA), genetically engineered insect-resistant cotton has helped for a significant reduction in the use of synthetic pesticides that are contaminating groundwater and the environment. The environmental concerns and benefits offered by GM crops propel the demand for the market over the forecast period.
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Global Genetically Modified Crops Market Segments
The global genetically modified crops market is segmented:
By Trait: Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST), Others
By Crop: Soybean, Cotton, Maize, Oilseed Rape, Tobacco, Others
By Technique: Gene Guns, Electroporation, Microinjection, Agrobacterium, Others
By Type of Modification: Transgenic, Cis-genic, Sub-genic, Multiple Trait Integration
By Application: Scientific Research, Agriculture Crops
By Geography: The regions covered in the genetically modified crops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Genetically Modified Crops Global Market Report 2022provides market size and growth forecasts for the global genetically modified crops market, global genetically modified crops market share, genetically modified crops market segments and geographies, genetically modified crops market competitive landscape including leading competitors’ revenues, profiles and market shares. The genetically modified crops market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Genetically Modified Crops Industry Playersinclude Bayer AG, BASF SE, Syngenta AG, The Dow Chemical Company, Dupont, Groupe Limagrain, JR Simplot Co, JKAgri Genetics Ltd, Maharashtra Hybrid Seed Company (MAHYCO), and Calyxt Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
