Transgenic Seeds Market: Industry Analysis and Forecast (2024-2030), Trends, Statistics, Dynamics and Segmentation

Transgenic Seed Market Market Overview

The increase in population has caused a rise in demand for food and grains in the entire World; hence it has become essential to maximize the production capacity of crops without affecting the quality. Therefore a new market for transgenic seeds has emerged with superlative properties compared to regular crops; this market is expected to multiply rapidly.

 

Transgenic seeds are genetically modified crops (GM); the DNA is modified using genetic engineering methods to introduce new traits that naturally do not occur in the species. The genetic modification enables crops to have qualities like high resistance to diseases, pests, chemical treatments, spoilage reduction and improving nutrient profiles of the crop.

 

The COVID-19 pandemic has affected all industries worldwide; even though transgenic seeds are essential food items, the market experienced tremendous difficulty in supply chain management. The global trade was affected, causing a reduction in demand for transgenic crops, especially in the South American Market. As the market has gained stabilization and normal operating environment, the need for transgenic seeds is expected to rise exponentially.

 

 

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Increasing Global Population and Rising Demand for Food:

 

The dramatic growth of the population is primarily attributed to factors such as increased life expectancy due to scientific advancements, increasing urbanization, accelerating migration, and a rise in quality of living. By 2050, the World's population is expected to increase by 2 billion to reach a whopping 9.7 billion. Asia is the most populous continent accounting for 61 percent of the global population, followed by South America's 8 percent; China and India, the two most rapidly growing populations, have 37 percent of the total population. This unprecedented rise in the number and the rising incomes have propelled the demand for food to new heights.

 

According to a business report, the food demand is expected to rise between 60-98 percent of the current level by 2050. This will shape the future of agriculture, and farmers have to increase crop production either by expanding agricultural land or enhancing productivity. Clearing more land for agriculture is expected to have ecological–social tradeoffs, and productivity per crop yield is not rising enough to meet the rising demand. Other factors such as lack of investment in agriculture, climate change, and urbanization can also hamper productivity; considering all these factors, transgenic crops provide viable solutions by increasing productivity; hence transgenic seed market is projected to rise rapidly.

 

Toxicity of Pesticides and Rise in Cost of Fertilizers:

 

In agriculture, synthetic pesticides are widely employed to control hazardous pests and avoid agricultural output losses or product damage. Pesticides may have unfavorable impacts on human health and the environment due to their high biological activity and, in some cases, extensive persistence in the environment. Farmers are becoming increasingly aware of the harmful impacts of pesticides and are turning to transgenic seeds for certain crops. Governments across the globe are encouraging a reduction in the usage of pesticides through organic farming and stringent pesticidal laws.

In September 2021, according to American Bureau Federation, the cost of fertilizers increased by 118 percent of the average price. The USADA has quoted an increase of 149 percent in urea prices, which is one of the three significant kinds of fertilizers. Farmers across the globe are struggling to keep up with the soaring costs of fertilizers and are looking for alternatives. Russia is one of the significant low-cost exporters of fertilizers, and the current ongoing war between Russia and Ukraine has influenced exports. Hence these factors are expected to stimulate the global transgenic seeds market with higher resistance to diseases.

 

The transgenic seeds market is currently dominated by few crop varieties; thus, the applications are limited. Although with technological advancements and rising awareness among the farmers, the transgenic seeds market is expected to proliferate significantly.

 

Transgenic Seed Market Market Segment Analysis

The Global Transgenic Seeds Market is segmented by crop type, traits,  and geographical region in this report. By crop, the transgenic seeds market is divided into Soybean, Corn, Canola, and Cotton. Soybean genetic transformation is achieved by introducing bacteria genes to make it resistant and enhance productivity. In 2023, Brazil was the largest soybean producer, overtaking the United States by producing 138 million metric tonnes. Soybean and Corn are expected to dominate the transgenic seeds market, holding over 70 percent of the total production. Further, Canola and Cotton crops account for 20 percent market share of transgenic seeds.

 

By traits, the transgenic seeds market is majorly segmented into insect resistance and herbicide tolerance, along with other traits like modified product quality, disease resistance, and abiotic stress tolerance. Insect resistance genes were introduced into Corn in the mid-1990s and it is expected to dominate the segment during the projection period. With increasing awareness among consumers about the quality of crops, other traits such as increased stress tolerance, product quality are expected to gain momentum in Transgenic Seeds Marke. The following figure depicts the dominance of Corn and Soybean in the Transgenic Seed Market.

 

 

Transgenic Seed Market Regional Analysis

The report contains an in-depth analysis of the Transgenic Seeds Market by geographical region across North America, Asia-Pacific, South America, Middle East, and Africa. Asia-Pacific is the quickest growing economy with an increase in urbanization and population; thus, with India and China's two most populated countries, the demand for food grains is expected to rise exponentially. Various countries like Bangladesh and Vietnam are cultivating genetically modified crops such as Eggplants to enhance productivity. After approval from the Genetic engineering Appraisal Committee (GEAC), 95 percent of Indian Cotton is produced from transgenic seeds. China is likely to issue the first safety certification for genetically modified cotton and plans to plant 33 million hectares of cornfield. Thus Asia-Pacific could emerge as a lucrative market for transgenic seeds during the projection period.

 

North America was the leading producer and exporter of transgenic seeds but was overtaken by South America at the end of 2023. Due to growing demand from farmers and increased understanding of the benefits of genetically modified seeds, North America has contributed a significant portion of the worldwide genetically modified seed market. In 2018, GMO soybeans accounted for 94 percent of all soybeans planted, GMO cotton accounted for 94 percent of all cotton grown, and GMO corn accounted for 92 percent of all corn planted. The majority of GMO crops are fed to animals such as cows, poultry, and fish. They are also used to manufacture ingredients for food goods such as cereal, snack chips, and vegetable oils. Alfalfa, Papaya, Apples, Potatoes, Canola, Soybeans, Corn, Summer Squash, Cotton, and Sugar Beets are the complete list of the genetically modified crops grown in the United States.

 

North America and South America accounted for 85 percent of the transgenic seeds market and is expected to continue their dominance during the projection period. Brazil and Argentina are the major markets for transgenic seeds, and they use 85-95 percent genetically modified seeds for a particular variety of crops like canola, corn, and soybean. The market for Transgenic seeds in Europe is slowly developing due to most of the types of GM crops being banned despite of being certified.

 

 

This report aims to analyze current market trends and potential opportunities to enhance growth to succeed in the industry. The report identifies factors influencing market dynamics and development of the Transgenic Seeds Market and how this will control investment during the forecasting period. The report studies regional markets to provide valuable insights into revenue and predicted value; information also includes the competitive landscape of key industry players and their recent developments.

 

Through comprehensive research supported by qualitative and quantitative data, this report provides essential information on the market behavior during the projection period (2024-2030). It also recognizes dominant segments in the market, projects their development, and identifies new elements that is projected to dominate with technological advancements.

 

 

The report contains detailed analyses through Porter's five forces model to determine the industry's structure and help devise a corporate strategy for the market. The model reports provide essential information about stakeholders' influence, product quality, substitute products, etc. The report also analyses whether the Transgenic Seeds Market is accessible for new competitors to gain a foothold, whether they enter or exit the market regularly, and if a few players dominate it.

 

A measured approach is adopted through Pestel analysis to quantify factors including government policies, economic structure, and political situations that will affect the development of this sector. Economic variables aid in studying financial performance drivers that impact the Transgenic Seeds Market. The report also considers environmental and legal factors that may affect the progress in this industry

 

Transgenic Seed Market Market Segmentation

Transgenic Seeds Market
Market Size in 2023	USD 52.92 Bn.
Market Size in 2030	USD 118.47 Bn.
CAGR (2024-2030)	12.2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Crop Corn Soybean Canola Cotton
	By Traits Insect Resistance Herbicide Tolerance Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Transgenic Seed MarketMajor Competitors

The Transgenic Seeds Market demands innovation and progress in a continuously changing landscape with new government policies and development. Thus, significant players often opt for strategies to invest in research and more recent technologies to be market-ready. Details profiles about the competitors, including revenue, market size, analysis, and technological advancements, are covered in this report.

 

• Suntory Holdings Ltd (Japan)
• DowDuPont (US)
• Vilmorin & Cie SA (France)
• Maharashtra Hybrid Seed Company (India)
• Bayer Crop Science AG (Germany)
• Monsanto (US)
• BASF SE (Germany)
• Syngenta AG (Switzerland)
• R.Simplot Co. (US)
• JK Agri Genetics Ltd (India)
• JR Simplot Company (US)
• Bejo Zaden BV (Netherlands)
• Sakata Seed Corporation (Japan)
• Corteva Inc (US)
• Takii and Co.Ltd. (Japan)