The
global GMO crops and seeds market is prognosticated to exhibit a
healthy growth in the coming years, as reported by Transparency
Market Research (TMR). The vendor landscape of the market is
currently fragmented with the vast pool of mid-sized as well as
large-sized players. The vendors are expected to be focused on
research and development of new technological innovations in order to
provide the best possible quality of seeds. This is as key strategy
that is expected to be adopted by vendors in order to thrive on in
the global, highly competitive market. Market participants are also
keen on enhancing their production capacities to meet the colossal
demand from consumers.
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According
to TMR’s report, the global GMO crops and seeds market is expected
to exhibit moderate growth for the forecast period between 2017 and
2022. In terms of revenue, the global GMO crops and seeds market is
predicted to be worth US$36,653.2 mn by the end of 2022 rising at a
CAGR of 8.3% between 2017 and 2022. The segment is predicted to reach
an evaluation of US$13,776.1 mn by 2022.
On
the basis of crop type, the segment of corn is predicted to emerge as
the leading one over the forecast period. The segment was valued to
be at US$9,293.1 mn in 2017 and represented 37.8% of the market in
the same year.
Geography-wise,
North America was the leading regional market for GMO crops and seeds
in 2017, and the trend is expected to continue over the forecast
period. The region is predicted to exhibit an attractive CAGR of 7.6%
between 2017 and 2022.
Demand
for Longer Shelf Life, Anti-Pest Properties to Boost Growth
The
genetically-modified seeds offer premium qualities to build yields,
empower longer time span of usability, and more prominent protection
from bugs. The diminishing size of arable land is the real
development driver for the usage of GM crops, which will accelerate
the yield generation process. Merchants in the market are thinking of
a few new GM crops which offer numerous methods of protection from
vermin and maladies and expanded resilience to herbicides, for
example, Vitamin enriched rice and wheat, drought tolerant maize,
biofortified bananas, and pest-free cowpea and beans. These
properties of herbicide resistance have introduced new doors for
genetically modified seed in the corn and soybean fragment, which
will goad development for this section over the forecast period.
As
per the Food and Agriculture Organization (FAO), expanding populace
and disposable incomes of consumers are expected to boost the yield
generation by roughly 70% by 2050. The surge in demand for food
produce and the lessened accessibility of arable land is predicted to
augment the adoption of different farming advancements, for example,
GMO
crops and seeds, which thus, is foreseen to help the global
development of the market.
Rising
Incidence of Droughts to Provide Lucrative Market Opportunity
In
genetic modification process different methods are utilized, for
example, quality grafting, quality hushing and utilization of viral
transporters. The rising use of genetic modification in horticultural
practices is one of the main application, brought about the
genetically modified seeds and products.
The
genetically modified seeds are advantageous over traditional seeds as
they improve the yields developed on the same land, decrease the
harvest harm from weeds, infections and insects and conceivably
enhance their nutritional value medical advantages. Because of
different research and advancements in seeds utilizing hereditary
changes, it provides answers for the agriculturists for a few
ecological conditions, for example, saltiness, droughts and diseases
which are expected to drive the GMO crops and seeds market to a large
extent.
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