Genetically Modified Crops Market [2028] by Size, Trends, Forecast

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 19.55 Billion
CAGR (2023-2028)	5.61%
Fastest Growing Segment	Herbicide Tolerance
Largest Market	North America

Market Overview

Global Genetically Modified Crops Market has valued at USD 19.55 Billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 5.61% through 2028. The Genetically Modified Crops Market refers to the global industry involved in the production, distribution, and sale of genetically modified (GM) crops. These crops have been scientifically altered to introduce specific traits, such as increased yield, pest resistance, or enhanced nutritional content. The use of biotechnology in agriculture has revolutionized the way we approach food production, offering solutions to address the challenges posed by climate change and the increasing global demand for food. GM crops, encompassing a wide range of plants like corn, soybeans, and cotton, have played a crucial role in ensuring food security and sustainability. They have enabled farmers to achieve higher yields, reduce pesticide use, and mitigate the impact of environmental factors. Additionally, the genetic modifications in these crops have the potential to enhance their nutritional value, addressing malnutrition and improving the overall health of populations.

Key Market Drivers

Adoption of Sustainable Farming Practices

The rise in the adoption of sustainable farming practices is projected to significantly boost the global demand for genetically modified (GM) crops. As the world grapples with the challenges of climate change, soil degradation, and water scarcity, sustainable farming emerges as a viable solution, presenting an opportunity for the enhancement of GM crops. These crops are engineered for increased yield, resilience to pests, and adaptability to harsh environmental conditions, allowing for more efficient use of resources. They not only promise to mitigate the adverse effects of traditional agriculture on the environment but also to ensure food security amidst a rapidly growing global population. Furthermore, GM crops can be modified for enhanced nutritional content, potentially addressing malnutrition issues prevalent in developing nations. The amalgamation of sustainable farming methods with the scientific advancements in GM crops symbolises a new era in agriculture, driven by a commitment to environmental preservation and global wellbeing. As more farmers worldwide recognise these prospects and switch to sustainable practices, the demand for GM crops is anticipated to rise. This trend, coupled with supportive government initiatives and technological advancements, is set to shape the future of farming on a global scale.

Increased Innovations in Biotechnology

The rising innovations in biotechnology have the potential to significantly escalate the global demand for genetically modified (GM) crops. As food security becomes an increasingly critical concern, particularly in light of climate change and escalating population growth, biotechnology offers solutions to enhance crop yield, resistance to pests, and tolerance to harsh climatic conditions. GM crops, engineered for these advantages, can be a means to ensure a consistent and reliable food supply. Additionally, technological advancements can also render these crops more nutritionally rich, addressing micronutrient deficiencies prevalent in developing nations. Furthermore, the symbiosis of biotechnology and information technology opens the door to precision agriculture, enabling more efficient use of resources and minimizing environmental impact. This alignment with sustainability goals is likely to further fuel demand. However, its adoption would necessitate a robust regulatory framework, addressing biosafety concerns and potential socio-economic impacts. It's worth noting that public acceptance is key - a challenge that needs engagement strategies considering ethical, cultural, and health-related aspects. As such, while the prospects of GM crops are promising, their global acceptance is contingent on transparent and inclusive dialogues, underpinned by rigorous scientific evidence.

Improved Crop Yield

The global demand for genetically modified (GM) crops is expected to rise significantly due to the promise of improved crop yield. Agriculture is faced with the challenge of feeding an increasing world population, which is projected to climb to 9.7 billion by 2050. GM crops, with their potential to enhance productivity and nutritional value, are being seen as the fulcrum of this change. Genetically engineered to resist pests, diseases and harsh environmental conditions, these crops produce higher yields compared to their traditional counterparts. This essentially means more food output per unit area, making farming more profitable and sustainable. Furthermore, GM crops can be tailored to thrive in regions with unfavorable agricultural conditions, enabling food production even in drought-prone and saline areas. As global warming continues to impact traditional farming, the demand for these resilient GM crops is likely to escalate. The promise of financial gain, along with the necessity for sustainable food sourcing, suggests a strong, future global market pull for genetically modified crops.

Increasing Global Population

The escalating global population is projected to intensify the demand for genetically modified (GM) crops worldwide. As the world population, currently standing at over 7.8 billion, continues to grow, so does the necessity for sustainable and efficient methods of food production. GM crops, engineered to resist diseases, pests, and harsh environmental conditions, hold the potential to significantly increase agricultural output, thereby helping to address food shortages. High-yield GM crops could substantially contribute to feeding the burgeoning global population, especially in densely populated and developing regions where traditional farming methods may not suffice. Additionally, GM crops may enable food production in areas previously deemed unsuitable for agriculture, such as arid or overly saline soils. Hence, the increasing global population and the ensuing demand for food stability and security are likely to drive the proliferation of genetically modified crops across the globe. However, it's essential to approach this solution with a measured understanding of the ecological and health implications of genetically modified organisms (GMOs).

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Key Market Challenges

Monopoly in Market

Monopolistic market structures can significantly impact the demand for genetically modified (GM) crops worldwide. When a single corporation or consortium controls the production and distribution of GM seeds, it can lead to inflated prices due to the lack of competition. These high prices can serve as a barrier to entry for small-scale farmers, particularly in developing regions, who may be unable to afford these costly seeds. Furthermore, monopolies often reduce the genetic diversity of crops available in the market, offering a limited selection of GM crops that may not be suited to all farming conditions worldwide. Reduced crop diversity and adaptability can ultimately lead to a decrease in global demand for GM crops, as consumers and producers alike seek more diverse and affordable agricultural solutions. The repercussions are particularly significant in the context of global food security, as reliance on a single source for seeds can leave global food systems vulnerable to disruptions, further decreasing the demand for GM crops. Hence, maintaining competitive markets is essential to ensure the affordability, diversity, and resilience of GM crops, thereby sustaining their global demand.

Delayed Approvals by Regulators on GM Crops

Regulatory delays for genetically modified (GM) crops are anticipated to decrease global demand for these products. This comes as a result of the lengthy and often unpredictable process of obtaining approval from authorities, which leads to increased uncertainty for investors, growers, and consumers alike. The existing regulatory frameworks for GM crops vary greatly across countries, and the lack of harmonization can create further complications. These delays can be attributed to a myriad of factors, from scientific and technological assessments to ethical, legal, and social implications associated with the cultivation and consumption of GM crops. Prolonged waiting periods can result in stunted research and development, stifling innovation in the sector. Additionally, extended delays can significantly increase the costs associated with bringing new GM crop varieties to market. This, in turn, may deter potential investors, limiting the financial resources available for advancing GM crop technologies. Furthermore, these delays can create supply chain disruptions, impacting farmers who rely on GM crops to increase yield, resist diseases, and adapt to changing environmental conditions. Consequently, the global demand for GM crops can be anticipated to decrease as a result of these regulatory delays.

Key Market Trends

Increasing Demand for Nutritional Food

The escalating demand for nutritional food worldwide is expected to augment the demand for Genetically Modified (GM) crops significantly. With a ballooning global population and a rising awareness of the importance of healthy eating, the strain on natural food resources is mounting. GM crops, through their enhanced nutritional profiles and improved yield potential, present a viable solution. They are engineered to contain higher levels of essential nutrients, such as vitamins and minerals, fulfilling dietary requirements more effectively than conventional crops. Additionally, GM crops are more resistant to pests, diseases, and adverse weather conditions, ensuring a consistent supply of food regardless of environmental conditions. Furthermore, the capacity of GM crops to grow in less fertile or saline soils extends the arable land, increasing global food production potential. Thus, the growing demand for nutritional food is contributing to the increased adoption of GM crops to meet global food security and dietary needs.

Increasing Biotech Crop Adoption

The global demand for genetically modified (GM) crops is anticipated to surge, driven in large part by the growing adoption of biotech crops. Biotech crops, genetically engineered to resist pests, endure harsh weather conditions, and increase yield, are progressively being recognized for their potential to address food security issues amidst the escalating global population. In addition, they offer a viable solution for farmers confronting challenges like poor soil quality, drought, and diseases. The biotech industry's relentless innovation and research have led to the development of crops with enhanced nutritional profiles, further bolstering the demand. Countries, particularly those with burgeoning populations and constrained arable land, are likely to adopt GM crops as a strategy to ensure food sufficiency and nutritional improvement. Moreover, the potential environmental benefits, such as reduced pesticide use and lower carbon emissions, contribute to the attractiveness of GM crops in the context of sustainable farming. Hence, the rise in biotech crop adoption is likely to fuel an unprecedented increase in the global demand for genetically modified crops.

Segmental Insights

Trait Insights

Based on the Trait, Herbicide Tolerance is undeniably the dominant trait in the Global Genetically Modified Crops Market. This remarkable trait empowers crops to withstand the detrimental effects of specific broad-spectrum herbicides, which would otherwise harm or even annihilate them, alongside the targeted weeds. The convenience and efficacy of this trait for farmers have resulted in its widespread adoption, solidifying its position as the most prevalent and sought-after trait in the market. By conferring crops with resilience against herbicides, this trait not only ensures enhanced crop yields but also promotes sustainable and efficient farming practices. Embracing this revolutionary trait has revolutionized the agricultural landscape and paved the way for a more productive, resilient, and environmentally conscious future.

Application Insights

Based on the Application, Scientific research has emerged as the dominant force shaping the Global Genetically Modified Crops Market. With remarkable advancements in biotechnology and genetic engineering, the pace of scientific research has been significantly accelerated, leading to ground-breaking discoveries in the field of genetically modified (GM) crops. This sector's growth is fuelled by several factors, including the ever-increasing global population, concerns regarding food security, and the pressing need to enhance crop productivity and resistance to pests and adverse environmental conditions. While the Agriculture Crops segment also holds a crucial position within this market, its trajectory is largely influenced by the remarkable achievements made through scientific research in biotechnology. By continually pushing the boundaries of knowledge and harnessing innovative technologies, scientists and experts in this field are driving sustainable solutions that address the challenges faced by modern agriculture. Through their tireless efforts, they are not only shaping the future of crop production but also paving the way for a more resilient and sustainable agricultural system.

The Global Genetically Modified Crops Market owes its current dominance to the remarkable progress in scientific research, which has revolutionized the development of genetically modified crops. With a focus on addressing global food security concerns and improving crop productivity, this market continues to thrive and shape the future of agriculture through the integration of cutting-edge biotechnology and innovative genetic engineering techniques.

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Regional Insights

The North American region, particularly the United States, is currently dominating the Global Genetically Modified Crops Market due to several key factors. These include advancements in biotechnology, which have allowed for the development of more efficient and productive GM crops, as well as the widespread adoption of extensive agricultural practices. This region has witnessed a significant rise in the cultivation of genetically modified crops, thanks to their numerous benefits such as improved yield, enhanced resistance to pests and diseases, and increased tolerance to adverse environmental conditions.

Moreover, the favorable regulations and policies in place within the North American region have played a crucial role in its leading position in the global market. These regulations ensure the safety and quality of genetically modified crops, providing confidence to both farmers and consumers. Additionally, the supportive government policies have fostered a conducive environment for research and development, encouraging innovation and further growth of the genetically modified crops industry. With its robust biotechnology sector, extensive agricultural practices, and favorable regulatory framework, the North American region continues to make significant strides in the Global Genetically Modified Crops Market, solidifying its dominant position and paving the way for continued success in the future.

Recent Developments

In October 2020, BASF SE, a German chemical manufacturing company, acquired ASL for an undisclosed amount. This strategic acquisition aimed to enhance BASF's melon seed breeding capabilities, ensuring a cutting-edge melon breeding research program and increasing breeding and seed production in France. ASL, a seed production and breeding company based in France, specializes in melons with orange flesh, including varieties such as Cantaloupe and Charentais.

Key Market Players

BASF SE
Mosanto Company
Bayer CropScience LLC
Syngenta AG
The Dow Chemical Company
DuPont de Nemours, Inc.
Groupe Limagrain Holdings Corporation
JR Simplot Co.
JKAgri Genetics Ltd.
Maharashtra Hybrid Seed Company Private Limited

By Trait

By Technique

By Type of Modification

By Crop Type

By Application

By Region

Herbicide Tolerance
Insect Resistance
Stacked Traits
Others

Gene Guns
Electroporation
Microinjection
Agrobacterium
Others

Transgenic
Cis-genic
Sub-genic
Multiple Trait Integration

Soybean
Cotton
Maize
Oilseed Rape
Canola
Alfalfa
Others

Scientific Research
Agriculture Crops

North America
Europe
Asia Pacific
South America
Middle East & Africa

Report Scope:

In this report, the Global Genetically Modified Crops Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Genetically Modified Crops Market, By Trait:

o Herbicide Tolerance

o Insect Resistance

o Stacked Traits

o Others

Genetically Modified Crops Market, By Technique:

o Gene Guns

o Electroporation

o Microinjection

o Agrobacterium

o Others

Genetically Modified Crops Market, By Type of Modification:

o Transgenic

o Cis-genic

o Sub-genic

o Multiple Trait Integration

Genetically Modified Crops Market, By Crop Type:

o Soybean

o Cotton

o Maize

o Oilseed Rape

o Canola

o Alfalfa

Others Genetically Modified Crops Market, By Application:

o Scientific Research

o Agriculture Crops

Genetically Modified Crops Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Kuwait

§ Turkey

§ Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Genetically Modified Crops Market.

Available Customizations:

Global Genetically Modified Crops market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Genetically Modified Crops Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validations

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

3.6. Voice of Customer

4. Global Genetically Modified Crops Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value

4.2. Market Share & Forecast

4.2.1. By Trait (Herbicide Tolerance, Insect Resistance, Stacked Traits, Others)

4.2.2. By Technique (Gene Guns, Electroporation, Microinjection, Agrobacterium, Others)

4.2.3. By Type of Modification (Transgenic, Cis-genic, Sub-genic, Multiple Trait Integration)

4.2.4. By Crop Type (Soybean, Cotton, Maize, Oilseed Rape, Canola, Alfalfa, Others)

4.2.5. By Application (Scientific Research and Agriculture Crops)

4.2.6. By Region

4.2.7. By Company (2022)

4.3. Market Map

5. North America Genetically Modified Crops Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Trait

5.2.2. By Technique

5.2.3. By Type of Modification

5.2.4. By Crop Type

5.2.5. By Application

5.2.6. By Country

5.3. North America: Country Analysis

5.3.1. United States Genetically Modified Crops Market Outlook

5.3.1.1. Market Size & Forecast

5.3.1.1.1. By Value

5.3.1.2. Market Share & Forecast

5.3.1.2.1. By Trait

5.3.1.2.2. By Technique

5.3.1.2.3. By Type of Modification

5.3.1.2.4. By Crop Type

5.3.1.2.5. By Application

5.3.2. Canada Genetically Modified Crops Market Outlook

5.3.2.1. Market Size & Forecast

5.3.2.1.1. By Value

5.3.2.2. Market Share & Forecast

5.3.2.2.1. By Trait

5.3.2.2.2. By Technique

5.3.2.2.3. By Type of Modification

5.3.2.2.4. By Crop Type

5.3.2.2.5. By Application

5.3.3. Mexico Genetically Modified Crops Market Outlook

5.3.3.1. Market Size & Forecast

5.3.3.1.1. By Value

5.3.3.2. Market Share & Forecast

5.3.3.2.1. By Trait

5.3.3.2.2. By Technique

5.3.3.2.3. By Type of Modification

5.3.3.2.4. By Crop Type

5.3.3.2.5. By Application

6. Europe Genetically Modified Crops Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Trait

6.2.2. By Technique

6.2.3. By Type of Modification

6.2.4. By Crop Type

6.2.5. By Application

6.2.6. By Country

6.3. Europe: Country Analysis

6.3.1. Germany Genetically Modified Crops Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Trait

6.3.1.2.2. By Technique

6.3.1.2.3. By Type of Modification

6.3.1.2.4. By Crop Type

6.3.1.2.5. By Application

6.3.2. United Kingdom Genetically Modified Crops Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Trait

6.3.2.2.2. By Technique

6.3.2.2.3. By Type of Modification

6.3.2.2.4. By Crop Type

6.3.2.2.5. By Application

6.3.3. Italy Genetically Modified Crops Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecasty

6.3.3.2.1. By Trait

6.3.3.2.2. By Technique

6.3.3.2.3. By Type of Modification

6.3.3.2.4. By Crop Type

6.3.3.2.5. By Application

6.3.4. France Genetically Modified Crops Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Trait

6.3.4.2.2. By Technique

6.3.4.2.3. By Type of Modification

6.3.4.2.4. By Crop Type

6.3.4.2.5. By Application

6.3.5. Spain Genetically Modified Crops Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Trait

6.3.5.2.2. By Technique

6.3.5.2.3. By Type of Modification

6.3.5.2.4. By Crop Type

6.3.5.2.5. By Application

7. Asia-Pacific Genetically Modified Crops Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Trait

7.2.2. By Technique

7.2.3. By Type of Modification

7.2.4. By Crop Type

7.2.5. By Application

7.2.6. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Genetically Modified Crops Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Trait

7.3.1.2.2. By Technique

7.3.1.2.3. By Type of Modification

7.3.1.2.4. By Crop Type

7.3.1.2.5. By Application

7.3.2. India Genetically Modified Crops Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Trait

7.3.2.2.2. By Technique

7.3.2.2.3. By Type of Modification

7.3.2.2.4. By Crop Type

7.3.2.2.5. By Application

7.3.3. Japan Genetically Modified Crops Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Trait

7.3.3.2.2. By Technique

7.3.3.2.3. By Type of Modification

7.3.3.2.4. By Crop Type

7.3.3.2.5. By Application

7.3.4. South Korea Genetically Modified Crops Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Trait

7.3.4.2.2. By Technique

7.3.4.2.3. By Type of Modification

7.3.4.2.4. By Crop Type

7.3.4.2.5. By Application

7.3.5. Australia Genetically Modified Crops Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Trait

7.3.5.2.2. By Technique

7.3.5.2.3. By Type of Modification

7.3.5.2.4. By Crop Type

7.3.5.2.5. By Application

8. South America Genetically Modified Crops Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Trait

8.2.2. By Technique

8.2.3. By Type of Modification

8.2.4. By Crop Type

8.2.5. By Application

8.2.6. By Country

8.3. South America: Country Analysis

8.3.1. Brazil Genetically Modified Crops Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Trait

8.3.1.2.2. By Technique

8.3.1.2.3. By Type of Modification

8.3.1.2.4. By Crop Type

8.3.1.2.5. By Application

8.3.2. Argentina Genetically Modified Crops Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Trait

8.3.2.2.2. By Technique

8.3.2.2.3. By Type of Modification

8.3.2.2.4. By Crop Type

8.3.2.2.5. By Application

8.3.3. Colombia Genetically Modified Crops Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Trait

8.3.3.2.2. By Technique

8.3.3.2.3. By Type of Modification

8.3.3.2.4. By Crop Type

8.3.3.2.5. By Application

9. Middle East and Africa Genetically Modified Crops Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Trait

9.2.2. By Technique

9.2.3. By Type of Modification

9.2.4. By Crop Type

9.2.5. By Application

9.2.6. By Country

9.3. MEA: Country Analysis

9.3.1. South Africa Genetically Modified Crops Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Trait

9.3.1.2.2. By Technique

9.3.1.2.3. By Type of Modification

9.3.1.2.4. By Crop Type

9.3.1.2.5. By Application

9.3.2. Saudi Arabia Genetically Modified Crops Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Trait

9.3.2.2.2. By Technique

9.3.2.2.3. By Type of Modification

9.3.2.2.4. By Crop Type

9.3.2.2.5. By Application

9.3.3. UAE Genetically Modified Crops Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Trait

9.3.3.2.2. By Technique

9.3.3.2.3. By Type of Modification

9.3.3.2.4. By Crop Type

9.3.3.2.5. By Application

9.4. Drivers

9.5. Challenges

10. Market Trends & Developments

10.1. Recent Development

10.2. Mergers & Acquisitions

10.3. Product Launches

11. Global Genetically Modified Crops Market: SWOT Analysis

12. Porter’s Five Forces Analysis

12.1. Competition in the Industry

12.2. Potential of New Entrants

12.3. Power of Suppliers

12.4. Power of Customers

12.5. Threat of Substitute Products

13. Competitive Landscape

13.1. BASF SE

13.1.1. Business Overview

13.1.2. Service Offerings

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. SWOT Analysis

13.2. Mosanto Company

13.3. Bayer CropScience LLC

13.4. Syngenta AG

13.5. The Dow Chemical Company

13.6. DuPont de Nemours, Inc.

13.7. Groupe Limagrain Holdings Corporation

13.8. JR Simplot Co.

13.9. JKAgri Genetics Ltd.

13.10. Maharashtra Hybrid Seed Company Private Limited

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Genetically Modified Crops Market in 2022?

The market size of the Global Genetically Modified Crops Market was estimated to be USD 19.55 Billion in 2022.

Which was the dominant segment by application in the Global Genetically Modified Crops Market in 2022?

Scientific research is driving the growth of the global genetically modified crops market. Biotechnology and genetic engineering advancements have accelerated the pace of research, leading to breakthroughs in developing GM crops. This industry's expansion is fueled by a growing global population, food security concerns, and the desire to improve crop productivity and resilience. Agriculture crops also play a crucial role, benefiting from scientific research in biotechnology.

Which is the dominant region in the Global Genetically Modified Crops Market?

The North American region, particularly the United States, is leading the Global Genetically Modified Crops Market. With advancements in biotechnology and widespread agricultural practices, the region has witnessed a substantial increase in the adoption of genetically modified (GM) crops. Favorable regulations and policies have also played a role in establishing its dominant position in the global market.

What are the major drivers for the Global Genetically Modified Crops Market?

Adoption of sustainable farming practices and increased innovations in biotechnology are the major drivers for the Global Genetically Modified Crops Market.

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Press Release

Genetically Modified Crops Market to Grow with a CAGR of 5.61% through 2028

Nov, 2023

Increasing demand for nutritional food and increasing biotech crop adoption is expected to drive the Global Genetically Modified Crops Market growth in the forecast period, 2024-2028.

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