Genetically Modified Seeds Market is estimated to reach US$63.555 billion by 2029 at a CAGR of 8.68%

The genetically modified seeds market is anticipated to grow at a CAGR of 8.68% from US$35.492 billion in 2022 to US$63.555 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 15, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the genetically modified seeds market is projected to grow at a CAGR of 8.68% between 2022 and 2029 to reach US$63.555 billion by 2029.

The key growth drivers to propel the genetically modified seeds market during the forecasted period are:

• The growing nutrition concerns among the general public and the increase in demand for nutritional seeds with growing urbanization are predicted to drive the market for genetically modified seeds. These seeds provide higher productivity for the farmers to yield and better protection by increased resistance from harmful pesticides and other chemical compounds. Thus, growth in demand for nutrition products among the general public is expected to fuel the market for genetically modified seeds.

• Another factor that boosts the sales of genetically modified seeds in the market is the growing number of government initiatives taken to increase crop yields and provide better and nutritional food products to the general public. The significant investments that are made by the government for research and development of enhanced genetically modified seeds that can provide enhanced productivity to the farmers are propelling growth in the market. For instance, in the United States, more than 90% of the upland cotton, corn, and soybean production is genetically engineered.

Access sample report or view details: https://www.knowledge-sourcing.com/report/genetically-modified-seeds-market

The genetically modified seeds market, by crop type, is divided into four types- corn, soybean, cotton, and canola. Each type of crop has its use case and nutrition value for which it needs to be genetically modified to increase its production. Corn is one of the examples of crop types of genetically modified seeds that is widely used for animal feed and ethanol production. The use of genetic modification has significantly improved the production rate that needed to be significantly boosted to meet the global demand that is predicted to propel growth in the market over the forecast period.

The genetically modified seeds market, by resistance, is divided into two types- herbicide-tolerant and insect-resistant. This resistance of genetically modified seeds to different chemicals and harmful substances is anticipated to fuel the market growth over the forecast period. For instance, insect-resistant genetically modified seeds are made specially to enhance the protection from insects that can hinder crop productivity and increase crop yield.

The North American region is expected to witness significant growth in the genetically modified seeds market during the forecasted period as this region has a growing number of investments made in the research and development sector which are leading to significant developments in the genetically modified seeds productivity and yield. These developments in the field of genetically modified seeds are growing their awareness among the farmers of the region which in turn is boosting the demand for genetically modified seeds in the region.

The research includes several key players from the genetically modified seeds market, such as BASF SE, Bayer AG, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Limagrain.

The market analytics report segments the genetically modified seeds market using the following criteria:

• By Crop Type

o Corn
o Soybean
o Cotton
o Canola
o Others

• By Resistance

o Herbicide-tolerant
o Insect-resistant

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Others

Companies Mentioned:

• BASF SE
• Bayer AG
• KWS SAAT SE & Co. KGaA
• Syngenta
• Corteva
• Limagrain

Explore More Reports:

• Global Pumpkin Seeds Market: https://www.knowledge-sourcing.com/report/global-pumpkin-seeds-market

• Hybrid Seeds Market: https://www.knowledge-sourcing.com/report/hybrid-seeds-market

• Oilseed Market: https://www.knowledge-sourcing.com/report/oilseed-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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