GMO Corn Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global GMO Corn Market is Segmented By Trait (Herbicide Tolerant, Insect Tolerant, Stacked, Others), By Application (Food, Feed & Residual, Biodiesel, Others), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Online Sales, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

GMO Corn Market Size

The Global GMO Corn Market reached US$ 260.1 billion in 2022 and is expected to reach US$ 384.2 billion by 2030 and is expected to grow with a CAGR of 5.0% during the forecast period 2023-2030.

The increasing adoption of gene editing techniques, such as CRISPR-Cas9, is a notable trend in the GMO corn market. For instance, researchers have successfully used CRISPR-Cas9 to develop corn varieties with enhanced nutritional content, such as higher levels of essential vitamins and minerals.

The GMO corn market is a thriving sector within the agricultural industry that involves the cultivation and trade of genetically modified corn varieties. It is driven by factors such as increased demand for animal feed, biofuel production, and advancements in biotechnology. Overall, the GMO corn market presents opportunities for improved crop traits and enhanced agricultural practices while also requiring careful consideration of ethical, social, and economic aspects.

The increasing global demand for sustainable and resilient crop production is a major driver in the GMO corn market. For instance, adopting genetically modified drought-tolerant corn varieties, such as Monsanto's DroughtGard, has gained traction among farmers facing water scarcity challenges. These genetically modified corn varieties offer improved resilience and productivity in drought-prone regions, addressing the need for more sustainable agriculture.

GMO Corn Market Scope

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GMO Corn Market Dynamics

Rapid Adoption of Advanced Bioengineering Technology Fuels GMO Corn Market Growth

Growing farmer acceptance of advanced bioengineering technology, such as genetically modified organisms (GMOs) and transgenic corn, is a significant driver of the market growth of GMO corn. Advanced bioengineering technology enables the development of corn varieties with higher yields, resulting in increased profitability for farmers. Genetically modified corn, created through bioengineering techniques, can be engineered to resist pests and diseases, minimizing crop losses and maximizing yields.

This technology also allows farmers to reduce costs by minimizing the need for pesticides and herbicides. Additionally, advanced bioengineering technology facilitates faster and more precise breeding methods, accelerating the development of new corn varieties. As farmers gain a better understanding of the benefits offered by advanced bioengineering technology, they are increasingly adopting these techniques in their farming practices.

Growing Global Demand for Animal Feed and Biofuel Drives GMO Corn Market Expansion and Trends

One of the key drivers of the GMO corn market is the increasing global demand for animal feed and biofuel production. As the world population continues to grow, there is a rising need for livestock feed to support meat and dairy production. GMO corn, with its enhanced traits such as increased yield and resistance to pests and diseases, becomes an attractive choice for farmers to meet the growing demand for animal feed.

Additionally, the use of GMO corn in biofuel production, particularly ethanol, has gained momentum due to its potential to reduce greenhouse gas emissions and dependence on fossil fuels. The expanding animal feed and biofuel production market drives the GMO corn market, as the agricultural industry seeks sustainable and efficient solutions to meet global demands.

Health Concerns Over Biotoxins in GMO Corn Restrains Market Growth

The presence of biotoxins in GMO crops, such as Bt Corn and Roundup Ready Corn, can potentially restrain the market growth of GMO corn. Biotoxins, including mycotoxins produced by certain fungi, pose health risks when consumed in high amounts. In corn, mycotoxins, particularly in Bt Corn and Roundup Ready Corn, can have toxic effects on humans, leading to acute or chronic illnesses such as cancer, liver damage, kidney damage, and neurological problems.

Different mycotoxins have varying toxic effects, and the severity of these effects depends on factors such as the type of mycotoxins, the dose ingested, and the age and overall health of the person consuming the mycotoxin-contaminated corn. Consequently, the presence of biotoxins in GMO corn raises health concerns and decreases demand for the product, which in turn restrains the market growth. The GMO corn market size is affected, and the GMO corn market share is influenced by these health concerns related to biotoxins.

GMO Corn Market Segment Analysis

The Global GMO Corn Market is segmented based on the trait, application, distribution channel, and region.

Growing Demand for Stacked Trait GMO Corn Drives Market Expansion and Sustainability

Based on the trait, GMO corn is classified into herbicide tolerant, insect tolerant, stacked, and others. The stacked trait, which combines multiple traits such as herbicide tolerance and insect resistance, holds a 60% share in the GMO corn market. Stacked trait GMO corn, created through genetic modification techniques, has gained popularity due to its enhanced protection against pests and diseases.

It reduces the need for multiple applications of herbicides and pesticides, making it an attractive choice for farmers. According to the International Service for the Acquisition of Agri-biotech Applications (ISAA), stacked traits have seen a 6% increase, covering approximately 85.1 million hectares globally, accounting for 45% of the total area. The growing market for stacked trait GMO corn is expected to continue its upward trajectory in the forecast periods.

 Source: DataM Intelligence Analysis (2023)

GMO Corn Market Geographical Share

The North America Region Held the Largest Share of the GMO Corn Market.

The North American region, and in particular the United States, has a high share of the global GMO corn market, driven by advancements in genetic engineering of corn, corn biotechnology, and genetic modification techniques. The United States is one of the largest producers of corn in the world, with large areas of land dedicated to corn cultivation. GMOs, including GMO corn, have been widely adopted in the United States.

Many farmers opt for genetically modified varieties for their increased yield, pest and disease resistance, and other benefits. According to USDA, in 2022, over 90% of US corn is GMO corn. North America has also a strong infrastructure for the production and distribution of corn and other crops, with efficient supply chains and transportation networks that enable the export of corn to other regions. This has made it easier for North American producers to access global markets for GMO corn.

Source: DataM Intelligence Analysis (2023)

GMO Corn Market Companies

The major global players include BASF SE, Bayer AG, Syngenta AG, Bayer CropScience, DowDupont, Groupe Limagrain, AgReliant Genetics, LLC, CANTERRA SEEDS, Dow AgroSciences LLC, and The Monsanto Company.

COVID-19 Impact Analysis

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The COVID-19 pandemic had several impacts on the GMO corn market. Disruptions in global supply chains affected the availability of GMO corn seeds and inputs. Changes in consumer behavior and demand patterns resulted in shifts in the demand for corn and corn-derived products. International trade challenges affected the export and import of GMO corn.

Government policies and interventions influenced the market. Price volatility and uncertainty in the overall economy impacted farmers' decisions. The specific impacts varied across regions and countries. Monitoring market reports and consulting with agricultural experts are essential for accurate and up-to-date information.

By Trait

• Herbicide Tolerant
• Insect Tolerant
• Stacked
• Others

By Application

• FOOD
• Feed & Residual
• Biodiesel
• Others

By Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On March 07, 2023, Corteva Agriscience a U.S.-based company announced plans for the commercial launch of Vorceed™ Enlist® corn products. U.S. farmers will access Vorceed Enlist corn technology across Pioneer® seeds, Dairyland Seed®, and Brevant® seeds through the exclusive Corteva Horizon Network in areas of high corn rootworm (CRW) pressure in the Corn Belt.
• On October 01, 2020, BASF SE, based in Germany, marked a 25-year partnership with USask Crop Development Centre. This collaboration is in addition to more than $12 million BASF has financed in the research and development of crop genetics.

Why Purchase the Report?

• To visualize the Global GMO Corn Market segmentation based on trait, application, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of GMO Corn market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global GMO Corn Market Report Would Provide Approximately 61 Tables, 60 Figures And 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies