Transgenic Seeds Market outline
Transgenic seeds or genetically modified seeds are designed to improve the resistance in plants from drought, rain, diseases, and pets. Transgenic seeds are manufactured by genetic modification process. Transgenic seeds are used to improve the crop yield, nutritional values, and protects the plant from various diseases. However, the major aim of producing these seeds is to introduce a new trait to plant which does not exist in the species naturally. The most commonly used genetically modified seeds include cotton, soybean, canola, corn, and sugar beets among others.
Increase in the food consumption around the globe due to increase in global population, rise in cost of fertilizers, growing awareness in farmers about the advantages of transgenic seeds, and increase in R&D activities in agriculture biotechnology are the factors anticipated to fuel the market over the forecast period. However, stringent regulatory policies for product approvals, high cost of R&D activities, and lack of product availability in underdeveloped regions are restraining the growth of market.
Transgenic seeds market is growing at a significant CAGR owing to rise in soil and water contamination. Transgenic seeds play vital role in the protection of plants and improving the yield. Moreover, competitors are focusing on the development of newer transgenic seeds for improving the crop yield. For instance, in 2013, Dow AgroSciences launched Powercore in U.S an innovative corn trait technology that provides ground insect protection in corn. Moreover, collaborations, and product launchings the strategies followed by the market players for increasing revenue share. For instance, in April 2015, Dow AgroSciences, Bioceres S.A., and Arcadia Biosciences collaborated to develop and commercialize innovative traits in soybeans. Furthermore, in October 2017, BASF SE agreed to purchase Bayer AG’s agriculture products business to enter the genetically-modified seeds market.
The market is segmented on the basis of trait type and crop type
Based on the trait type, it is segmented into the following:
- Insect Resistance
- Pesticide Tolerance
Based on the crop type, it is segmented into the following:
- Fruits and Vegetables
Regional Analysis: Global Transgenic Seeds Market
The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America market driven by increase in demand for newer genetically modified seeds with increased crop yield, collaboration between the companies for the development of newer seeds, and high awareness about transgenic seeds in farmers are expected to propel the market. Europe market growth is driven by an increase in the agriculture production in Europe countries such as Germany, France, and U.K., rise in R&D activities for the innovation of genetically modified seeds, and rise in focus on improving crop yield and crop protection are boost the market. Asia Pacific market is an emerging market owing to rise in adoption of transgenic seeds in Asia Pacific countries such as China, India, and Japan, and change in agriculture farming practices are bolstering the market. Latin America market is expected to grow at moderate rate due to the launching of newer products in Latin America region. For instance, in January 2016, Bayer and BASF SE introduced genetically modified soybean seeds in Brazil. The Middle East and Africa market is growing due to government support for improving the crop yield, adoption of genetically modified seeds in South Africa and Burkina Faso, and change is environmental conditions.
Some of the players in market are Syngenta AG (Switzerland), Dow AgroSciences LLC (U.S.), Bayer CropScience AG (Germany), Monsanto (U.S.), BASF SE (Germany), E.I. du Pont de Nemours & Company (U.S.), Suntory Holdings Ltd. (Japan), Bioceres S.A. (Argentina), and Arcadia Biosciences (U.S.) to name a few.
Notable Market Developments:
- In October 2017, Dow AgroSciences launched genetically modified soybean seeds in U.S.
Key Features of the Report
- The report provides granular level information about The market size, regional market share and forecast from 2017-2024
- The report covers in-detail insights about The competitor’s overview, key findings and Their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by The industry
- The report tracks recent innovations, key developments and startup’s details that are working in The industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario