Genetically Modified Crops Market: A Comprehensive Analysis
The Genetically Modified Crops Market refers to the global industry focused on genetically engineered crops, also known as genetically modified organisms (GMOs). These crops are developed using genetic engineering techniques to introduce specific traits such as resistance to pests, diseases, or environmental conditions. The market encompasses the production, distribution, and consumption of genetically modified crops and their derived products.
The Genetically Modified Crops Market encompasses a wide range of agricultural products that have been genetically modified to exhibit desired traits. These traits can include increased yield, improved nutritional content, enhanced resistance to pests and diseases, and tolerance to herbicides. Genetically Modified Crops play a significant role in modern agriculture by addressing challenges such as food security, environmental sustainability, and crop productivity.
The global genetically modified market was valued at USD 18.15 billion in 2024 and is expected to exhibit a CAGR of 8.7% in terms of value over the forecast period (2024 – 2031), and is expected to reach USD 37.46 billion by 2031.
Key Players
Several key players dominate the Genetically Modified Crops Market, including multinational agricultural biotechnology companies such as Monsanto (now part of Bayer), Syngenta (acquired by ChemChina), DowDuPont (now Corteva Agriscience), and BASF. These companies invest heavily in research and development to create genetically modified crop varieties that offer benefits to farmers and consumers, driving innovation and market growth.
The Genetically Modified Crops Market is a dynamic and complex industry driven by technological advancements, market trends, regulatory landscapes, and geographical variations. Understanding key players, market trends, conducting Porter analysis, assessing geographical regions, and segment analysis provide valuable insights into the opportunities and challenges within this evolving market segment.
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