The Bt cotton market was valued at US$3.108 billion in 2018 and is anticipated to grow at a CAGR of 5.81% to reach a market size of US$4.362 billion by 2024. Bt cotton plants contain Bacillus thuringiensis that produces Cry proteins (crystal insecticidal proteins). These proteins are effective in killing caterpillar pests of cotton such as the larvae of tobacco budworms and bollworms. Growing need for reduction in worker and environmental exposure to chemical insecticides is one of the key drivers of global Bt cotton market. Recently, there has been a decline in the technology fee as well as the seed cost for Bt cotton, thereby positively impacting the market growth worldwide. High investment in R&D activities to develop new genes for insertion into cotton plant DNA for improving agronomic traits and pest control characteristics will provide a great opportunity for the expansion of global Bt cotton market in the next five years. Moreover, the high cost of insecticidal control of certain caterpillar pests will propel the growth of global Bt cotton market.
Geographically, North America holds the largest market share while the APAC region is anticipated to witness the fastest regional market growth during the forecast period. This growth is majorly attributed to expanding Bt cotton market in India due to unfavorable weather conditions coupled with high demand for cotton, especially by the emerging handloom industry. Furthermore, use of Bt cotton plants raises the disposable incomes and save the time of farmers, thereby bolstering the market growth. However, the growth of Bt cotton market will be restrained by factors such as low effectiveness of the Bt gene after a few days and ineffectiveness against sucking pests (aphids, whitefly, etc.)
The Bt cotton Market – Forecasts from 2019 to 2024 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by geography.
The Bt cotton market has been segmented based on geography where the regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 11 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the Bt cotton market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the Bt cotton market.