The global genetically modified crops market was valued at US$ 18.15 billion in 2018, according to Genetically Modified Crops Market Report, by Crop Type (Soybean, Maize, Cotton, Canola, Others (Sugar Beat, etc.)), by Trait (Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East and Africa) published by Coherent Market Insights.
The global genetically modified crops market is expected to reach US$ 37.46 billion by 2027, exhibiting a CAGR of 8.7% over the forecast period.
The growing food industry is expected to drive growth of the genetically modified crops market across the globe. Increasing demand for GM crops in the food industry is another factor contributing to the market growth. According to India Brand Equity Foundation (IBEF), the food industry in India was valued at US$ 39.71 billion in 2017, which increased to US$ 65.4 billion in 2018 witnessing CAGR of 11%. India has entered agriculture biotechnology in 2002 with the approval of BT cotton for its commercial cultivation. Genetically modified crops are plants used in agriculture who’s DNA has been modified by using genetic engineering techniques. Genetic engineering is the technique of simple addition, manipulation or deletion of a single trait in an organism to create a desired change.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 138 market data tables* and 72 figures* on "Genetically Modified Crops Market” - Global forecast to 2027.
Key Trends and Analysis of the Genetically Modified Crops Market:
Key Takeaways of the Market:
Key players operating in global genetically modified crops include Bayer AG, BASF SE, Syngenta AG, and The Dow Chemical Company, among others.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.