New York, United States , Aug. 19, 2024 (GLOBE NEWSWIRE) -- The Global Transgenic Seeds Market Size is to Grow from USD 30.62 Billion in 2023 to USD 80.91 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.20% during the projected period.
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Transgenic seeds are made by modifying DNA, the basic genetic material, by genetic engineering (GE) procedures. This is the use of contemporary biotechnology. These might also be referred to as genetically modified crops, transgenic seeds or crops, or GE plants. Certain characteristics are shared by all living organisms and are influenced by both their genetic makeup and environmental interactions. An organism's genetic makeup is determined by its genome, which is made up of DNA in all plants and animals. DNA segments called genes are located throughout the genome and frequently contain the instructions required to synthesize proteins. These proteins give rise to the characteristics of the plant. Furthermore, genetic engineering in agriculture has many benefits, some of which include higher crop yields, reduced costs for food or drug production, less need for pesticides, improved nutrient composition and food quality, resistance to pests and disease, increased food security, and medical benefits for the world's growing population. Furthermore, the transgenic seed market has grown significantly as a result of the increased demand for transgenic seeds around the world. Several causes, including increased agricultural production, disease and insect resistance, tolerance to hard environments, higher nutritional value, weed management, technological improvements, government support, and others, are contributing to the growth of the transgenic seed industry globally. However, transgenic seed approval processes are subject to regulations and can be difficult and time-consuming. Laws governing the production and distribution of genetically modified crops vary by country or region.
Browse key industry insights spread across 235 pages with 110 Market data tables and figures & charts from the report on the "Global Transgenic Seeds Market Size, Share, and COVID-19 Impact Analysis, By Crop Type (Soybean, Corn, Cotton, Canola, and Others), By Trait (Insecticide Resistance, Herbicide Tolerance, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The corn segment is anticipated to hold the greatest share of the global transgenic seeds market during the projected timeframe.
Based on the crop type, the global transgenic seeds market is divided into soybean, corn, cotton, canola, and others. Among these, the corn segment is anticipated to hold the greatest share of the global transgenic seeds market during the projected timeframe. Corn, one of the most widely cultivated crops worldwide, has experienced significant genetic alteration to yield a range of characteristics. Farmers in several areas have authorized transgenic maize seeds that have characteristics including increased yield, insect resistance, and herbicide resistance. For example, more than 90% of the corn cultivated in the US is produced using GE cultivars. Genetically engineered crops (GE) fall into three basic categories: herbicide-tolerant (HT), insect-resistant (Bt), and stacking variants, which combine elements of both HT and Bt.
The herbicide segment is expected to grow at the fastest pace in the global transgenic seeds market during the projected timeframe.
Based on the trait, the global transgenic seeds market is divided into insecticide resistance, herbicide tolerance, and others. Among these, the herbicide segment is expected to grow at the fastest pace in the global transgenic seeds market during the projected timeframe. Herbicide-tolerant (HT) seeds are a valuable tool for farmers to manage weeds and complement no-till farming methods, which preserve topsoil. They offer farmers the autonomy to use herbicides only when required, to control the total amount of herbicide input, and to use herbicides with desired environmental attributes. These herbicides affect the plant's metabolic process by targeting crucial enzymes, which eventually lead to the plant's demise.
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North America is expected to hold the largest share of the global transgenic seeds market over the forecast period.
North America is expected to hold the largest share of the global transgenic seeds market over the forecast period. Geographically, North America has historically accounted for a sizable portion of the market for transgenic seeds. The region has a well-established agricultural sector, and the usage of genetically modified crops is common. Corn, soybeans, and cotton are the three main crops that the transgenic seed industry in North America depends on. For example, the United States of America has the greatest amount of genetically modified agriculture in North America, covering an area 6.6 times greater than that of Canada.
Asia Pacific is predicted to grow at the fastest pace in the global transgenic seeds market during the projected timeframe. Agricultural biotechnology is rapidly growing and raising crop yields in emerging countries such as China and India, even in the face of changing environmental variables like drought and salt. For example, China has recently approved the cultivation of genetically modified soybeans and maize; the first GM maize crops are expected to be harvested in 2023. This year, China is expected to plant 267,000 hectares of genetically modified maize; this number is expected to rise to include the majority of the country's roughly 43 million hectares of maize. Major vendors in the Global Transgenic Seeds Market include Monsanto, Syngenta, DowDuPont, BASF SE, Bayer AG, Groupe Limagrain, Land O’Lakes, KWS SAAT SE, Sakata Seed Corporation, UPL Limited, Suntory Holdings Ltd, Vilmorin & Cie SA, Maharashtra Hybrid Seed Company, Monsanto, Syngenta AG, JK Agri Genetics Ltd, J.R. Simplot Co, and Others.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key Vendors in the Global Transgenic Seeds Market Size Monsanto, Syngenta, DowDuPont, BASF SE, Bayer AG, Groupe Limagrain, Land O’Lakes, KWS SAAT SE, Sakata Seed Corporation, UPL Limited, Suntory Holdings Ltd, Vilmorin & Cie SA, Maharashtra Hybrid Seed Company, Monsanto, Syngenta AG, JK Agri Genetics Ltd, J.R. Simplot Co, Others
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Recent Developments
- In April 2024, to improve maize and soybean production, China licenses 81 genetically modified seeds. 64 GM maize varieties and 17 GM soybean types have been certified by China from October 2023.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Transgenic Seeds Market based on the below-mentioned segments:
Global Transgenic Seeds Market, By Crop Type
- Soybean
- Corn
- Cotton
- Canola
- Others
Global Transgenic Seeds Market, By Trait
- Insecticide Resistance
- Herbicide Tolerance
- Others
Global Transgenic Seeds Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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