The Business Research Company’s Genetically Modified Crops Global Market Report 2021: COVID-19 Growth And Change to 2030
LONDON, GREATER LONDON , UK, July 13, 2021 /EINPresswire.com/ — The exponential increase in population around the globe drives the need to implement genetically modified crops. Farmers have to adopt new technologies to produce crops that can meet the demand of the growing population. Genetically Modified crops help reduce food loss and waste, improve soil and water management, and improve the yield alongside protecting the environment. According to the UN, it is expected that the world population will be around 10 billion by 2050. Genetically modified crops are thereby important to feed this growing population and maintain food security.
The global genetically modified crops market is expected grow from $20.09 billion in 2020 to $21.47 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The genetically modified seeds market is expected to reach $29.5 billion in 2025 at a CAGR of 8%.
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The major players covered in the GMO crops and seeds industry are Bayer AG, BASF SE, Syngenta AG, The Dow Chemical Company, Dupont, Groupe Limagrain, JR Simplot Co., JKAgri Genetics Ltd., Maharashtra Hybrid Seed Company (MAHYCO), Calyxt Inc., Stine Seed Farm, Inc., Nuseed Pty Ltd., KWS SAAT SE, Canterra Seeds Holdings Ltd., Bayer Crop Science India Ltd, Groupe Limagrain Holdings Corp, Land O’ Lakes Inc., Sakata Seed Corp., Takii Seeds, Agreliant Genetics LLC, DLF Seeds and Science, Long Ping High-Tech, Shandong Denghai Seeds.
In September 2019, Bayer CropScience Limited completed the acquisition of Monsanto India Limited for an amount of $63 billion. Monsanto India Limited was founded in 1949 and was a subsidiary of Monsanto, a research-based biotechnology company based in the USA before the acquisition. This acquisition was aimed towards expanding Bayer’s business and consumer base in India. The companies plan to retain the brand name of Monsanto products with their inclusion under the Bayer’s product portfolio.
TBRC’s Genetically Modified crops market report is segmented by trait into herbicide tolerance (HT), insect resistance (IR), stacked traits (ST), others and by crop into soybean, cotton, maize, oilseed rape, tobacco, others.
Genetically Modified Crops Global Market Report 2021: COVID-19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provides Genetically Modified crops market overview, forecast Genetically Modified crops market size and growth for the whole market, Genetically Modified crops market segments, and geographies, Genetically Modified crops market trends, Genetically Modified crops market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire