Global Transgenic Seeds Market
Market Outline: Transgenic Seeds Market
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.
Market Dynamics: Transgenic Seeds Market
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 transgenic seeds 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.
Market Scope: Transgenic Seeds Market
Transgenic seeds market is segmented on the basis of trait type and crop type
Based on the trait type, it is segmented into the following:
Based on the crop type, it is segmented into the following:
Fruits and Vegetables
Market Summary: Transgenic Seeds 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 in transgenic seeds market. 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.
Regional Analysis: Transgenic Seeds Market
Geographically, transgenic seeds market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America transgenic seeds 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 transgenic seeds 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 transgenic seeds 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 transgenic seeds 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. Middle East and Africa transgenic seeds 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.
Market Participants: Transgenic Seeds Market
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: Transgenic Seeds Market
In October 2017, Dow AgroSciences launched genetically modified soybean seeds in U.S.