Genetically Modified Seeds Market size worth US$63.555 billion by 2029

genetically modified seeds market

The genetically modified seeds market is expected to grow at a CAGR of 8.68% with a market valuation of US$35.492 billion in 2022 and is expected to reach a market value of US$63.555 billion by 2029.

The rise in nutrition concerns, rapid urbanization, and favorable initiatives are key drivers propelling the growth of the genetically modified seeds market.

As per the report, the genetically modified seeds market is expected to grow significantly.

Using cutting-edge technology, genetic modification (GM) modifies an organism’s genetic composition and alters its genetic characteristics in the lab to introduce new traits. The process of genetic modification involves several techniques, including gene splicing, gene silencing, and the application of viral carriers. The production of genetically modified crops and seeds is one of the most popular uses of genetic modification in agricultural practices. Increased yields in the same or less area, decreased crop damage from weeds, diseases, and insects, and the possibility of better nutritional value or other health benefits are some of the benefits of genetically modified seeds over normal seeds. These seeds are modified to address issues like food security and climate change by adding features like pest resistance, herbicide tolerance, or higher nutritional value. The most often modified crops are canola, soybeans, maize, and cotton. Adoption varies by location and crop type. Genetically modified seeds are controversial despite their potential advantages due to worries about the effects they may have on the environment, health risks, and socioeconomic ramifications. Topics like pesticide use, biodiversity loss, and corporate influence over agricultural systems are still being debated. However, as research is driven by changing agricultural requirements and technological breakthroughs, the market for genetically modified seeds is growing. Corteva unveiled a gene-editing technique in March 2023 to safeguard the superior maize hybrids. In particular, for maize growers in North America, the new technology represents the next phase of plant breeding and aims to induce disease-resistant characteristics in the maize genome.

The genetically modified seeds market can be categorized into various crop types: corn, soybean, cotton, canola, and others. With several variables driving demand and adoption, maize and soybeans are likely to continue rising in the genetically modified (GM) seed industry. First of all, among the most extensively grown crops worldwide for use in food, feed, and industrial uses are maize and soybeans. Therefore, farmers have a strong incentive to embrace genetically modified (GM) cultivars that offer features like herbicide tolerance, pest resistance, and increased yields. Second, weed competition, yield unpredictability, and insect pressure are some of the agricultural issues that maize and soybean farmers confront, which makes them excellent candidates for genetically modified agriculture (GM) technology. Features like as glyphosate tolerance in soybeans and Bt insect resistance in maize have gained widespread acceptance because of their proven ability to effectively handle these issues. The adoption of GM maize and soybean varieties is also fuelled by the ongoing rise in the world’s need for food and feed, as well as the need to boost agricultural production to feed an expanding population. Since these crops are essential to the food chain, efforts to modify their genetic makeup should be prioritized for agricultural innovation and sustainability. All things considered, the demand from the market, the difficulties faced by farmers, and the adaptability of GM technology position maize and soybeans for sustained expansion in the GM seed business.

The genetically modified seeds market can be segmented based on resistance, namely herbicide-tolerant and insect-resistant. Within the larger genetically modified seed sector, the market for herbicide-tolerant and insect-resistant GM seeds is a sizable subset. These seeds provide farmers with efficient ways to control weed and insect pressures because they are designed to tolerate the application of particular herbicides or to release proteins poisonous to specific insect pests. Genetically modified seeds that are resistant to herbicides, such as glyphosate, allowing farmers to manage weeds more effectively, increasing agricultural yields and lowering labor expenses. Corn, soybeans, and cotton are examples of glyphosate-resistant crops that have gained considerable traction in areas where weed pressure poses a serious problem. Gene-engineered insect-resistant genetically modified seeds (GM seeds) that generate proteins harmful to particular insect pests (Bacillus thuringiensis, or Bt) reduce the need for chemical insecticides. Beneficial insects and the environment are both preserved while targeted pests are effectively controlled by Bt crops, such as Bt corn, cotton, and soybeans. The market for genetically modified (GM) seeds that are resistant to pesticides and insects is expanding due to several factors, such as the need for sustainable farming methods, improved pest management techniques, and higher agricultural production. Despite debates surrounding genetically modified crops, the use of these features is spreading throughout the world due to their proven advantages in resolving important agricultural issues.

The market for genetically modified (GM) seeds is expanding significantly in the Asia-Pacific area for several reasons. The demand for food and agricultural goods is rising due to factors such as urbanization, rapid population expansion, and shifting dietary preferences. Farmers in the area are using genetically modified (GM) seeds, which provide features like pest resistance, herbicide tolerance, and increased yields, to meet this need sustainably modified crops, like Bt cotton, have gained widespread acceptance in nations like China and India, where agriculture plays a significant role in the economy. This has resulted in appreciable gains in farmer productivity and revenue. Furthermore, the use of insect-resistant genetically modified seeds has lessened crop losses and decreased the need for chemical pesticides due to the presence of diseases and pests in many Asian agricultural landscapes. The use of GM technology is also being fuelled by government programs and policies that aim to increase food security and agricultural production. For example, the Chinese government has approved the commercial cultivation of various genetically modified crops and has actively sponsored biotechnology research and development. Nonetheless, there are several obstacles to the Asia-Pacific region’s GM seed industry expansion. The acceptance of GM crops may be impacted by national differences in regulatory frameworks, food safety, and environmental impact concerns. The way the public views and accepts genetically modified products also continues to play a significant role in determining the direction of the market. Despite these obstacles, the Asia-Pacific area offers a lot of potential for the GM seed industry to grow, driven by the need to meet global food demands and sustainably boost agricultural production.

The genetically modified seeds market is supported by key players such as BASF SE, Bayer AG, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Limagrain.

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This analytics report segments the genetically modified seeds market on the following basis:

  • By Crop Type
    • Corn
    • Soybean
    • Cotton
    • Canola
    • Others
  • By Resistance
    • Herbicide-tolerant
    • Insect-resistant
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East And Africa
      • Saudi Arabia
      • Israel
      • Other
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Taiwan
      • Others