Description

Transgenic Seeds Market was valued at USD 33 Billion in 2020 and is anticipated to grow at USD 75.73 Billion till 2027 recording a CAGR of 12.6% during the forecast period 2021-2027. Transgenic seeds or genetically modified seeds are designed to improve the resistance in plants from drought, rain, diseases, and pets. Transgenic seeds are manufactured by genetic modification process. Transgenic seeds are used to improve the crop yield, nutritional values, and protects the plant from various diseases. However, the major aim of producing these seeds is to introduce a new trait to plant which does not exist in the species naturally. The most commonly used genetically modified seeds include cotton, soybean, canola, corn, and sugar beets among others. Increase in the food consumption around the globe due to increase in global population, rise in cost of fertilizers, growing awareness in farmers about the advantages of transgenic seeds, and increase in R&D activities in agriculture biotechnology are the factors anticipated to fuel the market over the forecast period. However, stringent regulatory policies for product approvals, high cost of R&D activities, and lack of product availability in underdeveloped regions are restraining the growth of market. The transgenic seed market has a major impact on agricultural production. Herbicide tolerance, insecticide resistance, and other features like as changed product quality, disease resistance, and abiotic stress tolerance are all used to classify transgenic seeds.

 

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