Genetically Modified Market Expected To Exhibit A Cagr Of 8.7% In Terms Of Value Over The Forecast Period (2019 – 2027)

The global genetically modified market was valued at 18.15 billion in 2018 and is expected to exhibit a CAGR of 8.7% in terms of value over the forecast period (2019 – 2027), and is expected to reach 37.46 billion by 2027.

Genetically modified crops are plants which are utilized in agriculture, and their DNA has been modified using genetic engineering methods. The numerous benefits offered by GM crops are currently driving the market growth. Genetically modified crops offer enhanced nutritional value, longer shelf life, improved yield and have high resistivity to frost, drought and insect pests. For instance, Roundup GM soybeans are inserted with the gene that delivers maximum weed control.

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However, stringent regulations and delayed approvals by regulators on GM crops is hindering the growth of genetically modified crops in the global market. An article titled ‘The consequences of delayed approvals of GM crops’ published in 2017 states that the approval process for GM crops is slow in almost all the countries, especially in the European Union. This is due to the involvement of political activities in the approval process of GM crops. Therefore, the aforementioned factors are expected to hinder the genetically modified market growth during the forecast period.

North America is expected to account for a substantial growth during the forecast period in the global genetically modified crops market owing to a rise in adoption of the genetically modified crops by farmers in the U.S. A report published by United States Department of Agriculture (USDA) in 2014 on ‘Genetically Engineered Crops in the United States’ demonstrated the growth in adoption of growing genetically modified crops by U.S. farmers. As per the same source, genetically modified crops such as corn were planted in 85.50 million acres in 2012 which increased to 87.64 million acres corn planted by the U.S. farmers in 2013. Therefore, growing plantation of GM crops is expected to boost the market growth for this region.

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Key players are adopting growth strategies such as acquisitions in order to gain market share in the global genetically modified crops market. For instance, in 2016, Bayer AG, a pharmaceutical and life science company based in Germany acquired Monsanto’s GM seeds business, which is known for its GM seeds for crops. The acquisition of Monsanto’s GM seeds business valued at US$ 66 billion.

Major players in the global genetically modified crops market include Bayer AG, BASF SE, Syngenta AG, and The Dow Chemical Company, among others.

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Coherent Market Insights
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Seattle, WA 98154
Tel: +1-206-701-6702
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The global genetically modified market was valued at 18.15 billion in 2018 and is expected to exhibit a CAGR of 8.7% in terms of value over the forecast period (2019 – 2027), and is expected to reach 37.46 billion by 2027.

Genetically modified crops are plants which are utilized in agriculture, and their DNA has been modified using genetic engineering methods. The numerous benefits offered by GM crops are currently driving the market growth. Genetically modified crops offer enhanced nutritional value, longer shelf life, improved yield and have high resistivity to frost, drought and insect pests. For instance, Roundup GM soybeans are inserted with the gene that delivers maximum weed control.

Get a Sample Copy + All Related Graphs & Charts:  https://www.coherentmarketinsights.com/insight/request-sample/3495

However, stringent regulations and delayed approvals by regulators on GM crops is hindering the growth of genetically modified crops in the global market. An article titled ‘The consequences of delayed approvals of GM crops’ published in 2017 states that the approval process for GM crops is slow in almost all the countries, especially in the European Union. This is due to the involvement of political activities in the approval process of GM crops. Therefore, the aforementioned factors are expected to hinder the genetically modified market growth during the forecast period.

North America is expected to account for a substantial growth during the forecast period in the global genetically modified crops market owing to a rise in adoption of the genetically modified crops by farmers in the U.S. A report published by United States Department of Agriculture (USDA) in 2014 on ‘Genetically Engineered Crops in the United States’ demonstrated the growth in adoption of growing genetically modified crops by U.S. farmers. As per the same source, genetically modified crops such as corn were planted in 85.50 million acres in 2012 which increased to 87.64 million acres corn planted by the U.S. farmers in 2013. Therefore, growing plantation of GM crops is expected to boost the market growth for this region.

Great savings for you 2000$ Discount On Report: https://www.coherentmarketinsights.com/insight/request-discount/3495

Key players are adopting growth strategies such as acquisitions in order to gain market share in the global genetically modified crops market. For instance, in 2016, Bayer AG, a pharmaceutical and life science company based in Germany acquired Monsanto’s GM seeds business, which is known for its GM seeds for crops. The acquisition of Monsanto’s GM seeds business valued at US$ 66 billion.

Major players in the global genetically modified crops market include Bayer AG, BASF SE, Syngenta AG, and The Dow Chemical Company, among others.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com