Business research

Global Genetically Modified Crops Market Report 2021-2030 By The Business Research Company

Segments Covered: By Trait – Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST), Others; By crop – Soybean, Cotton, Maize, Rapeseed, Tobacco, Others

LONDON, July 07, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s research report on the GM crops market, the global GM crops market size is expected to grow by $ 20.09 billion in 2020 at $ 21.47 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 29.5 billion in 2025 at a CAGR of 8%.

Global market share

North America has the largest market share for genetically modified crops, accounting for 53.8% of the total in 2020. It is followed by South America, Asia-Pacific, and then other regions. Going forward, the fastest growing regions in the genetically modified crops market will be Asia-Pacific and North America, where growth will be 7.3% and 6.5% respectively in 2020 -2025. These will be followed by South America and the Middle East, where the markets are expected to grow at CAGRs of 6.2% and 3.1% respectively.

Rising demand for biofuels is a GM crop Market engine

The GM crop market is expected to be supported by the increasing demand for biofuels made from genetically modified crops during the forecast period. Genetically modified (GM) plants have been promoted as a new option for the production of biofuels because they promise a higher yield or a better quality feedstock. As countries slowly shift from fossil fuels to more environmentally friendly means of transportation, biofuels are expected to gain in popularity, supporting demand for GM crops over the forecast period. For example, the revised Renewable Energy Directive (REDII) in Europe of 2021, setting the EU policy framework until 2030, which is expected to support the biofuels market, thus driving the market for GM crops.

The commercial research companythe report titled Global Genetically Modified Crops Market Report 2021: Growth of COVID 19 And Transition to 2030 Covers major GM crops companies, GM crops market share by company, GM crops manufacturers, GM crops market size, and GM crops market forecast. The report also covers the global genetically modified crops market and its segments.

Request A Sample of the world Genetically modified crops Market report:

Impact of COVID-19

The pandemic has impacted national food supply chains due to lost income and remittances in many countries. Additionally, environmental stresses from climate change, including devastating bushfires in Australia and Desert Locust attacks in Africa and South Asia over the past year, have reduced agricultural productivity around the world. The supply of basic necessities was normally assured, but for imported or exported goods there was a lot of hassle due to the border closures as international trade was interrupted. Problems with the agricultural market included the availability of labor and the inability to access markets for produce due to transportation issues as well as the functioning of markets. Commercial agricultural production, which relies more on migrant labor, has suffered from the labor shortage.

With the pandemic affecting farmers, their resources and their supply chain, orders were canceled or returned and the demand for genetically modified crops was also affected as fewer farmers were willing to invest resources in these crops, by due to the uncertain demand and flow of goods.

Competitive landscape

The global genetically modified crop industry is largely consolidated, with a small number of large players. The top ten competitors in the market accounted for 47.76% of the total market in 2020. The major market players are Bayer AG, BASF SE, DuPont, Syngenta AG, The Dow Chemical Company, JR Simplot Co., Groupe Limagrain, Stine Seed Farm, Inc., Calyxt Inc. and Maharashtra Hybrid Seed Company (MAHYCO).

Global Genetically Modified Crops Market Report 2021: Growth and Change of COVID 19 through 2030 is part of a series of new reports from The commercial research company which provide market overviews, analyze and forecast market size and growth for the overall market, segments and geographies, trends, drivers, restraints, revenue, profiles and market share leading competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.

here is A List of similar reports from the commercial research company:

Global Agriculture Market Report 2021: Impact of COVID-19 and Recovery to 2030

Global crop production market report 2021: impact of COVID-19 and recovery until 2030

Global Organic Agriculture Market Report 2021: COVID19 Growth And Transition to 2030

Want to learn more about The Business Research Company?

The Business Research Company is a market intelligence company that excels in business, market and consumer research. With offices around the world, it has consultants who specialize in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.

The most comprehensive database in the world

The flagship product of The Business Research Company, Global market model, is a market information platform covering various macroeconomic indicators and measures in 60 geographies and 27 sectors. The global market model covers multi-layered data sets that help its users to assess the gaps between supply and demand.

CONTACT: The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: [email protected].info Follow us on LinkedIn: Follow us on Twitter: Check out our Blog: