According to master experts, the worldwide GMO crops and seeds market is prophesized to develop reasonably from 2017 to 2022. The market is relied upon to esteem at US$36,653.2 before the finish of the estimate time frame developing at a CAGR of 8.3%.
The worldwide GMO crops and seeds market is sectioned dependent on harvest type, quality, deals channel, and area. As far as harvest type, the portion of corn is relied upon to lead the market during the gauge time frame which is 2017 to 2022. This portion represented 37.8 % of the market’s offer in 2017 attributable to its utilization as a bug spray.
On the basis of geography, North America is expected to dominate the global GMO crops and seeds market and is perceived to retain its position throughout the forecast period. This region is expected to burgeon at an excellent CAGR of 7.6% during the forecast period.
Rising Need for Crop Production to Steer Growth
In recent times, there has been a tremendous rise in the global population. This has led to a rise in demand for crop production. However, the conventional agricultural methods are not enough to meet the growing demand; this has cropped the need for alternate methods of crop production. As a result, the demand for GMO seeds has increased, thus expediting the GMO crops and seeds market’s growth. In addition, extensive use of GMO seeds and crops as insect repellants have contributed to the GMO crops and seeds market’s progression.
Moreover, the recent technological developments in the realm of biotechnology have led to an expansion in the agricultural sector. This has acted as a major propellant in the growth of global GMO crops and seeds market. Further, the gene modification processes used in the development of GMO seeds is comparatively easier than the conventional process. Additionally, the use of these seeds significantly magnifies the crop yield, thereby fuelling the market’s expansion.
On the downside, there are a few bottlenecks in the growth of global crops and seeds market, that may hinder its growth. Factors such as mixed reactions of farmers this new variant of crops and concerns regarding its environmental impact may cause a shortfall in the market. However, GMO crops offer several benefits such as high sustainability, better yields, and protection from bugs. These benefits may attract large number of consumers to the market, thus stimulating the GMO crops and seeds market’s growth. Moreover, technological developments and initiatives taken by the government may aid the GMO crops and seeds market’s growth.
The global GMO crops and seeds market displays a highly fragmented vendor landscape with a wide range of medium and large scale companies trying to expand their revenue share, reports Transparency Market Research (TMR). Some of the major players in the market include Syngenta AG, KWS SAAT SE, Bayer Crop Science India Ltd, Land O’ Lakes Inc., and Land O’ Lakes Inc. These companies are engaging in research and developments activities and leveraging technology to expand their frontiers globally. Moreover, they are emphasizing on increasing their production in order to expand their frontiers in the GMO crops and seeds market.
Diminishing Arable Land to Present New Market Opportunities
Rapid urbanization and industrialization have led to a decrease in the arable land. This has highly driven the need for crops and seeds that have high resilience to herbicides and vermin. This has led to an increase in demand for GMO crops and seeds, thereby creating new avenues for the global GMO crops and seeds market. Moreover, rising incidence of droughts has presented new growth prospects for the market.
Transparency Market Research
90 State Street, Suite 700,
Albany, NY – 12207
USA – Canada Toll Free 866-552-3453
Email: [email protected]
For More Information Visit: http://priyanka1234.over-blog.com
This post was originally published on Space Market Research