Top Key Trends in the Transgenic Seeds Market: Insights and Growth Analysis for 2024

 

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Transgenic seeds are developed by altering DNA, the fundamental genetic material, through genetic engineering (GE) techniques, utilizing modern biotechnology. These seeds are also known as genetically modified crops, transgenic crops, or GE plants. All living organisms share certain traits influenced by their genetic makeup and environmental interactions. An organism’s genome, composed of DNA in both plants and animals, determines its genetic structure. Genes, which are segments of DNA scattered across the genome, often carry the instructions for producing proteins, which in turn define the plant's traits.

Genetic engineering in agriculture offers numerous advantages, including increased crop yields, reduced costs for food and drug production, decreased reliance on pesticides, enhanced nutrient content and food quality, pest and disease resistance, improved food security, and medical benefits for the growing global population. The transgenic seed market has experienced substantial growth due to rising demand worldwide. Factors driving this growth include increased agricultural productivity, resistance to diseases and pests, tolerance to harsh environmental conditions, improved nutritional value, effective weed management, technological advancements, and government support.

However, the approval processes for transgenic seeds are often complex and time-consuming, with regulations varying across countries and regions, impacting the production and distribution of genetically modified crops.

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 expected to dominate the global transgenic seeds market throughout the forecast period.

In terms of crop type, the global transgenic seeds market is segmented into soybean, corn, cotton, canola, and others. Among these, the corn segment is projected to hold the largest share of the market during the forecast period. Corn, one of the most extensively grown crops worldwide, has undergone significant genetic modification to enhance various traits. Farmers across multiple regions have widely adopted transgenic corn seeds that offer benefits like higher yield, insect resistance, and herbicide tolerance. For instance, over 90% of corn cultivated in the United States is produced using genetically engineered (GE) varieties. GE crops typically fall into three main categories: herbicide-tolerant (HT), insect-resistant (Bt), and stacked varieties that combine HT and Bt traits.

The herbicide tolerance segment is expected to witness the fastest growth in the global transgenic seeds market during the forecast period.

Based on traits, the global transgenic seeds market is categorized into insect resistance, herbicide tolerance, and others. Among these, the herbicide tolerance segment is expected to grow at the fastest rate. Herbicide-tolerant (HT) seeds are essential for farmers in managing weeds and supporting no-till farming practices, which help conserve topsoil. These seeds allow farmers to apply herbicides selectively, manage herbicide input, and use herbicides with favorable environmental profiles. Herbicides work by targeting specific enzymes critical to the plant's metabolic processes, ultimately leading to the plant’s death.

 

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North America is projected to maintain the largest share of the global transgenic seeds market during the forecast period.

North America is anticipated to dominate the global transgenic seeds market throughout the forecast period. Historically, the region has held a substantial share of the market due to its well-established agricultural sector and widespread adoption of genetically modified crops. The transgenic seed market in North America is primarily driven by key crops like corn, soybeans, and cotton. For instance, the United States leads the region in genetically modified agriculture, with cultivation areas over six times larger than those in Canada.

Asia-Pacific is expected to experience the fastest growth in the global transgenic seeds market during the forecast period. Agricultural biotechnology is expanding rapidly in emerging economies like China and India, boosting crop yields even amid challenging environmental factors such as drought and soil salinity. For example, China recently approved the cultivation of genetically modified soybeans and corn, with the first GM corn harvests expected in 2023. This year, China is projected to plant 267,000 hectares of GM corn, with expansion plans that could cover most of the country’s approximately 43 million hectares of corn in the future.

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 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.

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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.

 

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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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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