Genetically Modified Crops Market: Analyzing Growth Drivers, Strategic Insights, and Regional Dynamics
The Genetically Modified Crops Market refers to the sector focused on genetically engineered plants that possess specific traits or characteristics not naturally occurring. These modifications are made at the genetic level to enhance traits like resistance to pests, tolerance to herbicides, or improved nutritional content. The Genetically Modified Crops Market plays a crucial role in modern agriculture, addressing challenges related to food security, sustainability, and productivity.
The global genetically modified market was valued at $23.6 billion in 2024 and is expected to exhibit a CAGR of 5.7%. in terms of value
Major players in the global Genetically Modified Crops Market include Bayer AG, BASF SE, Syngenta AG, and The Dow Chemical Company, among others.
Market Drivers
Several key drivers fuel the growth of the Genetically Modified Crops Market. Firstly, the increasing global population and subsequent rise in food demand drive the need for higher agricultural productivity and efficiency. Genetically modified crops offer solutions by improving yields, reducing losses due to pests and diseases, and enhancing crop resilience to environmental stresses such as drought or salinity. Secondly, advancements in biotechnology and genetic engineering techniques contribute to the development of novel traits and functionalities in GM crops, expanding their applications and market potential.
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