Transgenic Seeds Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Transgenic Seeds Market is segmented By Crop Type (Corn, Cotton, Wheat, Rice, Soybean, Canola, Others), By Trait (Herbicide Resistant, Pest Resistant), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Transgenic Seeds Market Overview

The Global "Transgenic Seeds Market" is expected to grow at a high CAGR of 12.2% during the forecasting period (2023-2030). Transgenic seeds, also known as genetically modified (GM) seeds, are a type of seeds that are modified by the insertion of genes directly into the DNA of the seed. Seeds are genetically modified to contain specific characteristics such as resistance to herbicides and resistance to pests. GM seeds are gaining wide acceptability among commercial crop growers. The acreage of GM variants has significantly increased in cotton, corn, soybean and wheat across the globe. The major advantages of genetically modified seed include improved agricultural production, reduced pesticide usage, and increased profits. The rapid change in environmental conditions and depleting water resources led to a shift in agricultural practices towards sustainable technologies such as GM crops. A recent study revealed that GMOs increase crop yields by 22%, with pesticide use reduced by 37% and increase profits by 68%.

The transgenic seeds market has witnessed significant growth due to the growing adoption of sustainable agricultural practices worldwide. High agricultural yield and associated with transgenic crops compared with conventional crops made GM seeds the preferred choice among farming communities. According to the study published in The Royal Society in 2017, global plantations of GM crops increased from 1.7 million hectares in 1996 to 179.7 million hectares in 2015. Additionally, growing research advancements in biofortification, precise DNA integration, and stress tolerance in transgenic crops are expected to boost commercial agriculture productivity.

However, the environmental concerns and stringent government regulations associated with GM seeds hinder the growth of the market. The changing consumer preference towards naturally grown food products is also limiting the utilization of GM seeds.

Transgenic Seeds Market SUMMARY AND SCOPE

Transgenic Seeds Market Segmentation Analysis

The global transgenic seeds market is segmented based on traits into herbicide-tolerant and pest resistant. Herbicide-tolerant crops are designed to tolerate a specific spectrum of herbicides, restricting the growth of surrounding weeds and supporting the growth of crops. Growing utilization of herbicides in the production of corn and soybean for crop protection led to a shift in preference towards the production of herbicide-tolerant crops. More than 120 million acres of corn and soybean are currently genetically engineered to be tolerant to glyphosate and more in the United States.

Transgenic Seeds Market Geographical Share

By region, the global transgenic seeds market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and Africa.

North America is dominating the global transgenic seeds market owing to the increased adoption rate of GM corn, soybeans, cotton, and alfalfa by farmers across the region. More than 90% of corn, soybean, canola, and sugar beet produced in the United States is genetically modified in every crop season. As of 2017, ten GMO crops are produced in the United States, including corn, soybean, cotton, canola, etc. Factors that led to the growth of transgenic seeds include lower crop diseases, effective weed management, insect control, and high agricultural yielding capacity of GM seeds. According to the USDA National Agricultural Statistics Service data, the adoption of genetically engineered crops in the United States increased from 25% in 2000 to 90% in 2016.

Transgenic Seeds Companies and Competitive Landscape

The global transgenic seeds market is consolidated, with major companies such as Mosanto, DowDupont Inc, BASF SE, Bayer AG, and Syngenta AG occupying a significant market share. The market is forecasted to see new seed launches in different food crops and regulatory approvals worldwide.

The market is experiencing regulatory approvals for the new GMO seeds from different countries to produce genetically modified crops worldwide.

• In February 2019, DowDuPont Inc received international regulatory approval for its new line of genetically engineered soybeans.
• In January 2019, the Agriculture Department of China approved five genetically modified crop imports from the United States.