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GENETICALLY MODIFIED CROPS MARKET ANALYSIS

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GENETICALLY MODIFIED CROPS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     Genetically Modified Crops Market – Insights  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.                                                                            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.                                                                                            

  2. Therefore, the aforementioned factors are expected to hinder the genetically         modified market growth during the forecast period.              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.                                Figure 1. Global Genetically Modified Crops Market Share (%), By Region,  2018    Source: Coherent Market Insights, 2018-19  Asia Pacific is expected to witness significant growth in the genetically             modified crops market during the forecast period due to partnerships between           key players focused on the development of GM crops for farmers. For instance,           in 2016, DuPont Co. partnered with Origin Agritech Ltd., a seed manufacturer             based in China. The partnership is aimed at development of genetically             modified crops for farmers in China. Therefore, such strategic partnerships in             Asia Pacific region are likely to fuel the 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                                                          

  3. 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.                                                                                            Figure 2. Global Genetically Modified Crops Market Share (%), By Trait Type,  2018    Source: Coherent Market Insights, 2018-19  Based on crops type, the soybean segment held significant market share in the             global genetically modified crops market as government organization are         approving genetically modified soybean crop for trading. For instance, in July       2016, the European Union approved the imports of Monsanto’s Roundup Ready           2 Xtend genetically modified soybean variety from the U.S. In addition to this,           the European Commission also approved Bayer’s CropScience soybean variety         which is genetically modified soybean. Therefore, the growing product         approvals for trading is fueling the segment growth in the global market.                                                                                          On the basis of trait, the herbicides tolerance segment held substantial market                        

  4. growth in terms of value in the global genetically modified crops market.               Herbicides tolerance genetically modified crops are commonly grown across       the globe. Therefore, numerous key players in the global market offer herbicide           tolerant crops that have been genetically modified. For instance, Monsanto           offers Round-Up Ready soybean which includes herbicides tolerance trait type           and is used for food and feed applications.                                                          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.              1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference https://www.coherentmarketinsights.com/market-insight/genetically-modified-crops-market-3 495 About Us: ​ Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions.

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