Genetically Modified Seeds Market Size to grow by USD 12.80 billion between 2024-2028
According to a research report “ Genetically Modified Seeds Market” by Product (Corn, Soybean, Cotton, Canola, Others) Type (Herbicide tolerance, Insect tolerance) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 12.80 billion, at a CAGR of 7.08% during the forecast period. The global Genetically Modified (GM) seeds market is experiencing significant growth due to the increasing adoption of GM crops for biofuel production. With a heightened focus on reducing greenhouse gas emissions and addressing climate change, biofuels derived from GM seeds, particularly corn, soybean, and sugarcane, are gaining prominence as sustainable energy sources. GM seeds engineered for enhanced traits such as higher yields, oil content, and biomass are driving the expansion of biofuel production worldwide. For instance, bioethanol derived from GM corn is commonly used as a fuel additive, while biodiesel from GM soybean and canola offers an alternative to fossil fuels in transportation and industrial sectors. This trend is expected to continue as the demand for renewable energy sources increases.
Browse market data tables, figures, and in-depth TOC on “Genetically Modified Seeds Market” by Product (Corn, Soybean, Cotton, Canola, Others) Type (Herbicide tolerance, Insect tolerance) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product, the Corn segment is projected to dominate the market size in 2024
In the global Genetically Modified Seeds (GMS) market, herbicide tolerance is a significant trait, empowering crops to endure herbicide applications while inhibiting weed growth. This attribute is commonly attained through genetic engineering, where crops are designed to generate enzymes that neutralize or resist the herbicides' active components. Notably, glyphosate-resistant crops, commercially available through Bayer AG's Monsanto, are widespread herbicide-tolerant varieties. These crops can withstand glyphosate-based herbicides like Roundup, enabling efficient weed control without damaging the cultivated plants. The implementation of herbicide-tolerant GMS seeds simplifies weed management for farmers, lessening the requirement for manual labor and repeated herbicide applications.
By Type, Herbicide tolerance segment is expected to hold the largest market size for the year 2024
The global Genetically Modified (GM) seeds market has experienced significant growth, with corn holding a prominent position due to its extensive utilization in various sectors. The demand for corn is escalating, particularly in the production of ethanol and livestock feed. In the United States, the 2022 corn harvest yielded an impressive 15.1 billion bushels, a 7% increase from the 2020 harvest year. This increase can be attributed to the record-breaking corn yield of 177.0 bushels per acre in 2022, up by 5.6 bushels from the 2020 yield of 171.4 bushels per acre. Corn's versatility extends beyond food production, as it is also utilized for industrial purposes such as medicines, plastics, and biofuels.
North America is forecasted to hold the largest market size by region in 2024
In the global Genetically Modified Seeds (GMS) market, North America stands out as a significant region due to the extensive adoption and technological advancements in agricultural biotechnology. The United States and Canada are the primary contributors to GM seed production and utilization in this region. In the US, major crops like soybeans, corn, cotton, and canola are dominantly genetically engineered, primarily for traits such as herbicide tolerance and insect resistance. The widespread adoption of GM seeds in the US is fueled by factors including the demand for increased agricultural productivity, effective weed and pest management solutions, and the pursuit of reduced environmental impact through decreased chemical usage.
The Genetically Modified Seeds Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Genetically Modified Seeds (GMS) market has witnessed significant growth in recent years due to the increasing demand for high yield and disease-resistant crops. Conventional seeds, which are naturally grown, have limitations in terms of yields and susceptibility to viral carriers, pests, and weeds. In contrast, GMS offer genetic features like gene silencing and gene splicing that enhance the organism's genetic makeup, leading to higher crop yields and resistance to herbicides and insect pests. Agricultural Sciences have made remarkable strides in GM technology using tools like Agrobacterium tumefaciens and the gene gun. These techniques involve transferring specific DNA sequences into the target organism, altering its genetic makeup. For instance, GM crops like Cotton, Corn, and Soybean have been engineered for herbicide tolerance and insect resistance. Despite their benefits, GMS face criticism due to concerns over their shelf life and potential long-term health effects. However, ongoing research in the field continues to address these issues, ensuring the sustainability and safety of GM crops in the future. Overall, the GMS market is expected to grow further as farmers seek to maximize yields and minimize losses from pests and weeds.
Market Research Overview
The Genetically Modified Seeds (GMS) market has been witnessing significant growth in recent years due to the increasing demand for high yield, herbicide tolerant, and insect resistance crops among farmers. Oleo-chemicals derived from GMS, such as those used in the production of biofuels from Sugarcane, Maize, Wheat, and Sugar Beet seeds, have also been driving the market's growth. Farmers are increasingly adopting GMS to combat crop damage caused by insects, diseases, and environmental stressors like salinity and drought. For instance, Virus Resistant Papaya and Herbicide Tolerant Soybean are popular GMS varieties. The genetic modification process involves techniques like Gene Silencing, Gene Splicing, and the use of Agrobacterium tumefaciens or the Gene Gun. These techniques enable the introduction of desirable genetic features into the organism's genetic makeup, leading to improved yields, longer shelf life, and enhanced nutritional value. However, concerns regarding the potential impact of GMS on food production, food safety, and the environment persist. The use of synthetic chemicals in conventional seeds and the potential for GMS to act as viral carriers are among the key issues. In the agricultural sciences, research is ongoing to develop GM crops resistant to weeds, pests, and environmental stressors. For example, Canola crops have been engineered to produce Anthocyanidins and Proanthocyanidins, which have potential health benefits. In conclusion, the Genetically Modified Seeds market is poised for continued growth, driven by the need for high yield, disease resistance, and herbicide tolerance. However, addressing food safety and environmental concerns is crucial to ensure the long-term sustainability of this market. Keywords: Farmers, Oleo-chemicals, Sugarcane, Biofuels, Food Concern, Nutritional Value, Insects, Diseases, Crop Damage, Yields, Viral Carriers, Gene Silencing, Gene Splicing, Lab, Genetic Features, Genetic Makeup, Organism, Genetic Modification (GM), Virus Resistant Papaya, Salinity, Drought, Maize, Wheat, Sugar Beet Seeds, Herbicide Tolerant, Livestock, Ethanol, Genetically Modified Crops, Agricultural Land, Arable Land, Food Production, Improved Yields, Shelf Life, Conventional Seeds, Genetically Modified Seeds, Crop Yield, Agrobacterium tumefaciens, Gene Gun, Herbicides, Pests, Natural Seeds, DNA, Canola, Synthetic Chemicals, Poor Agricultural Production, Canola Crop, Anthocyanidins, Proanthocyanidins, Rice Crop, Rc gene, 1 Agricultural Sciences, Cotton, Corn, Soybean, GM crops, Weeds, Insect pests, Cultivated Crops, High yield, Herbicide tolerance, Insect resistance.
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