Transgenic Seeds Market Forecast and CAGR
According to the latest research done by Fct.MR., transgenic seeds are going to see rapid growth in the forecast period of 2021-2031. The rising demand for high-yield crops and the upsurge of private companies in agricultural commodities will raise the momentum of the transgenic seeds market. After analyzing the present market and future potential of transgenic seeds, it is expected to experience a CAGR of around 10%-12% in the forecast period.
What is the Driving Demand for Transgenic Seeds?
Seeds are the primary capital good for agricultural production. Advancement in the field of seeds for higher quality crops is the need of the hour to cope up with the advanced agricultural practices. Transgenic seeds being genetically modified seeds provide that flexibility, hence its demand is increasing.
Transgenic seeds have become one of the major driving forces in the food industry. Transgenic seeds have various advantages. They are a better version of conventional seeds. They come in many forms, some are organic, free of pesticides, diseases, etc, and also have quality and higher yield compared to the conventional seeds. All these factors and ever-increasing demand for food in the market have led to heavy growth in the transgenic seeds market.
In addition to these, the advancements in seeds and agricultural sciences, intensive R&D in the field, adoption of modern technology in farming practices have led to various transgenic seeds requirements. With the increase in popularity and benefits of transgenic seeds-based products, the number of consumers and sales globally is increasing at a rapid speed.
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Post Pandemic Recovery will augment Transgenic Seeds Sale
The covid-19 crisis has hit each and every sector of the market. Compared to all sectors, the food industry has affected the least. Hence, the transgenic seeds market also got hit but with a lesser degree than the rest as it also comes in essential goods.
Because of the halt of various essential goods and disruption of supply chain management, a number of small-scale manufacturers and suppliers of transgenic seeds had to stop their manufacturing unit due to limited stocks of raw materials and lesser sale growth in the market.
After the first wave of covid, the demand for transgenic seeds started coming back on track and also the manufacturers started producing efficiently. But again the arrival of the second wave of the pandemic, the transgenic seeds market is experiencing rough time. It is expected to be back on track after the situation normalizes and boost the growth of the transgenic seeds market.
US and Canada Transgenic Seeds Market Outlook
North America is the biggest producer and exporter of transgenic seeds. The prevalent transgenic seeds in the market are corn, soybean, Canola, etc, which are grown at a very mass level in North America, especially in the US and Canada. More than 80% of these crops are grown with the help of transgenic seeds in the US and Canada combined.
The use of genetically modified seeds for crop production is quite prevalent in the US and it is the leader for the world in growing these genetically modified crops with no side effects while being very economical at the same time.
The US has one of the biggest farmlands in the world and since it’s a developed economy, the use of advanced methods in farming is done at a very basic level hence the demand for transgenic seeds is very high here. On the other hand, Canada is also a developed economy but the farmland and the acceptance compared to US is much lesser. Hence the use and growth of transgenic seeds are at a bit decent speed.
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Europe Demand for Transgenic Seeds
The use of transgenic seeds is very limited in Europe. Even after intensive research and verification of products by major key players of transgenic seeds, it is still labeled harmful and is banned by some of the European countries.
Countries like France, Germany, Netherlands, Italy, Poland, etc have banned the use of genetically modified seeds but some of them have allowed manufacturing the transgenic seeds for export. Countries like Russia have totally banned transgenic seeds for the use, importation, and exportation too.
The UK is one of the rarest European countries that has allowed the import of transgenic seeds-based products. But the production of crops with the use of transgenic seeds is still prohibited in most of Europe. Hence the market of transgenic seeds is quite stagnant there.
Who are the Key Manufacturers and Suppliers of Transgenic Seeds?
Transgenic seeds are manufactured all over the world. The scale of manufacturing depends on the demand of it in nearby geographical area. Some of the major manufacturers and suppliers of transgenic seeds are
- Bayer CropScience AG
- JK Agri Genetics Ltd
- Suntory Holdings Ltd
- Vilmorin &Cie SA
- E.I. du Pont de Nemours & Company
- Dow AgroSciences LLC
- BejoZaden B.V
- Syngenta AG
An Adaptive Approach to Modern-day Research Needs
Transgenic Seeds Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- North America
- US & Canada
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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