Global Transgenic
Seeds Market Analysis
The global transgenic
seeds market will touch USD 79.03 billion at a 12% CAGR by 2032, as per
the recent Market Research Future report. The animal disinfectants market is a
growing market that is driven by the rising demand for animal health and
welfare, the increasing prevalence of diseases in animals, and the growing
regulatory requirements for the use of disinfectants in animal husbandry. The
market is expected to continue to grow in the coming years.
Better
Crop Quality and Yield to Boost Market Growth
In general, transgenic seeds are utilized to
improve agricultural productivity and quality. Numerous benefits are offered by
them, such as greater disease resistance, higher tolerance for environmental
difficulties, and efficient weed management. Transgenic seeds are mostly
utilized in the agricultural production to increase yields while using fewer
inputs. The transgenic seed business is boosted by the application of the transgenic
seed technology in order to enhance yield and use less agricultural land, resulting
in higher earnings for farmers.
Opportunities
Intensive
Investments in R&D to offer Robust Opportunities
The introduction of better seed varieties with
higher resistance to diseases & pests, permitting increased yields and
high-quality products, is the result of significant investment in R&D by
seed companies.
Restraints
and Challenges
Strict
Government Rules to act as Market Restraint
The strict government rules for product
approvals, environmental changes, high R&D activity cost, and shortage of
product accessibility in underdeveloped regions may act as market restraints
over the forecast period.
Market
Segmentation
The global transgenic seeds market is
bifurcated based on crop and trait.
By trait, herbicide tolerance will lead the
market over the forecast period for the significant threat posed to the farmers
by weeds. This is of utmost significance for controlling weed attacks on the
crops.
By crop, corn will dominate the transgenic
seeds market outlook over the forecast period for its burgeoning
demand.
COVID-19
Analysis
Agricultural industries across the world have
been impacted by the Covid-19 outbreak and the efforts adopted to contain the
pandemic. For agricultural production to begin, farmers must receive the seeds.
However, because of the Covid-19 pandemic, the labor, transportation, and
packaging sectors—which are allied sectors for agriculture—have been halted,
which has caused a delay in the seed’s supply chain to farmers. The necessary
amount and quality of seeds have not been available everywhere. Agriculture production
has decreased because of these disturbances.
Regional
Analysis
North
America to Head Transgenic Seeds Market
The market for transgenic seeds in North
America reached USD 13.05 billion during 2022 and is predicted to increase at a
substantial CAGR throughout the research period. The region's highly developed
and technologically oriented agriculture industry necessitates novel approaches
to maximize crop output and productivity. Additionally, the use of transgenic
seeds as a practical way to improve agricultural production and sustainability
has been prompted by the need to assure food security & address issues like
climate change and population expansion. Additionally, the marketing and
acceptance of transgenic seeds are made easier by the favorable regulatory
frameworks both for biotechnology & genetic engineering within North
America, which further accelerates market expansion.
Key
Players
Eminent industry players profiled in the global
transgenic seeds market report include DowDuPont (US), Suntory Holdings Ltd
(Japan), Maharashtra Hybrid Seed Company (India), Vilmorin & Cie SA
(France), Monsanto (US), Bayer CropScience AG (Germany), Syngenta AG
(Switzerland), BASF SE (Germany), JK Agri Genetics Ltd (India), and J.R.
Simplot Co. (US).
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