Global GMO Seed Market Analysis Share Growth Demand Application To 2021
GMO Seed Market was worth USD XX billion in 2016 and estimated to be growing at a CAGR of XX%, to reach USD XX billion by 2021. GMO stands for Genetically Modified Organism and it circumscribes a lot of products in industries which include medicinal, scientific and agricultural applications. GMO refers to seeds in the matter of agriculture and food consumption.
Genetically modifies seeds have been used by farmers around the world for about 20 years. GM seeds have distinct traits which set them apart from other seeds. They include qualities like herbicide resistance, insect resistance and efficient water usage.
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The growth of the global vital GMO Seed market is majorly driven by the rise in adoption of biofuels and the increased demand for animal feeds. Furthermore, the increasing threat from global food companies to non-GM food products and the premium pricing of non-GM foods also act as substantial factors of market growth. Supportive governmental policies encouraging the use of GMO seeds also acts a driver for market growth. However, issues of Intellectual Property Rights and delays in certifying GMO seeds by administrative arms of governments act as restraints on market growth.
The Global GMO Seed market is segmented on the basis of product, traits and by region. On the basis of product, the market is segmented into corn, soybean, cotton, canola and others. On the basis of traits, the market is categorised into herbicide tolerant, insect resistant and others.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. In 2015, North America led the global GMO Seed market in terms of market share. The market for these GMO Seed in Asia-Pacific area is amplifying because more of supportive government policies and increasing demand for biofuels. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the GMO Seed market in the following years when compared with the seasoned markets of developed regions.
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GMO Seed Market Key Players:
The major players operating in the Global GMO Seed industry include Monsanto, Bayer CropScience, DowDuPont, Grooupe Limagrain and Syngenta.
GMO Seed Market Segmentation:
By Product: Corn, Soybean, Cotton, Canola
By Traits: Herbicide Tolerant, Insect Resistant
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