Transgenic Seeds Global Market Report 2023

Major players in the transgenic seeds market are BASF SE, DuPont de Nemours Inc., Syngenta AG, Vilmorin And Cie SA, Bayer AG, Monsanto, Maharashtra Hybrid Seeds Company Private Limited, JK Agri Genetics Ltd.

New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transgenic Seeds Global Market Report 2023" - https://www.reportlinker.com/p06479861/?utm_source=GNW , Bejo Zaden B.V., Groupe Limagrain, Kaveri Seed Company Ltd., Land O Lakes Inc., Calyxt Inc., Real Seeds, and SCC GmbH.The global transgenic seeds market is expected to grow from $38.54 billion in 2022 to $44.02 billion in 2023 at a compound annual growth rate (CAGR) of 14.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transgenic seeds market is expected to reach $71.99 billion in 2027 at a CAGR of 13%.The transgenic seeds market consists of sales of genetically modified seeds of potatoes, squash, zucchini, alfalfa, papaya, apple, and tomato. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goodsTransgenic seed, also known as genetically modified seed, refers to a seed from plant whose genetic composition has been altered through techniques other than those used in conventional plant breeding to produce seed that contains chosen genes from other plants. It is used to create plants with desired features and higher yields.North America was the largest region in the transgenic seeds market in 2022. The regions covered in transgenic seeds report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and AfricaThe main types of land used for transgenic seeds are farmland and green houses.Farmland is the portion of land that is arable, planted with perennial crops, and used for perennial pastures.Farmland is used for transgenic seeds for crop production that add a particular DNA segment to the plant’s genome, resulting in the development of new or distinct traits.They have various traits such as herbicide tolerance, insect resistance, and others.The various crop types include maize, cotton, rice, soybeans, canola, and others. The main end-user industries are insect resistance, herbicide tolerance, virus resistance, altered oil composition, delayed fruit ripening, male sterility and restorer systems.Increasing agricultural productivity is expected to propel the growth of the transgenic seed market going forward.Agricultural productivity refers to the measure of the market value of the crop yield of an agricultural production system that uses inputs such as land, labor, capital, and other resources to produce yield.Transgenic seeds are primarily used in agricultural production to grow more food with fewer resources.The use of transgenic seed technology to increase yield and reduce the use of agricultural land, leading to increased profits for farmers boost the transgenic seed market.For instance, in November 2022, according to Eurostat, a Luxembourg government agency, 297.5 million metric tons of harvested grains, including rice, were produced in Europe, an increase of 4.2 %, or 12.1 million metric tons, over 2020. Furthermore, according to The Food and Agriculture Organization, a US-based specialized agency that leads international efforts to defeat hunger and improve nutrition and food security, the global production of primary crops increased by 52 % between 2000 and 2020, to 9.3 billion tones in 2020. Therefore, increasing agricultural productivity is driving the growth of the transgenic seed market.Product innovation is a key trend gaining popularity in the transgenic seed market.Major companies operating in the transgenic seed market are focused on developing innovative products to strengthen their position in the market.For instance, in August 2021, Corteva Inc., a US-based agriculture company launched Conkesta E3, a genetically modified soybean seed, for Brazilian farmers. It recently received authorization by the European Union Commission. Conkesta E3 soybeans have good genetics and extensive lepidopteran insect protection as part of the Enlist weed control system, which offers maximum flexibility and superior control of broadleaf weeds and grasses. Additionally, it increases crop production efficiency.In February 2021, International Flavors and Fragrances (IFF) Inc., a US-based manufacturer of flavor and fragrance products merged with DuPont’s Nutrition And Biosciences Business (DuPont) for an $7.3 billion and owned 55.4 % of the combined company. With this merger, DuPont’s Nutrition And Biosciences Business. aims to achieve a strategic focus, make certain targeted adjustments to its reporting structure, and become a leading ingredient and solution provider for customers across a broad range of end markets. DuPont’s nutrition And biosciences business is a US-based chemical manufacturing company that produces genetically modified seeds and products.The countries covered in the transgenic seeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The transgenic seeds market research report is one of a series of new reports that provides transgenic seeds market statistics, including transgenic seeds industry global market size, regional shares, competitors with a transgenic seeds market share, detailed transgenic seeds market segments, market trends and opportunities, and any further data you may need to thrive in the transgenic seeds industry. This transgenic seeds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479861/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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