According to study, “Global GMO Crops Market Size study, by Crop Type (Corn, Soyabean, Cotton, Alfalfa, Sugar Beets, Zucchini, Papaya, Potato, Apple, Other), by Traits (Herbicide Tolerance, Insect Tolerance, Others), by Sales Channel (Direct Sales, Modern Trade, E-Retail, Other Retail Outlets) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global GMO crops market are BASF SE, Groupe Limagrain Holdings Corp., Bayer Crop Science India Ltd., Sakata Seed Corp., DowDuPont Inc., Canterra Seeds and science, KWS SAAT SE, Takii seeds, Land O’ Lake, Syngenta AG, Monsanto Co., DLF Seeds and Science, Agreliant Genetics LLC.
Genetic Modification of crops or GMO is a technology that entails inserting DNA into the genome of an organism. A new DNA is transferred into cells of plant for producing a GM plant. It is the most widely regulated and tested product in agricultural field. It can be customized so that they give a complete nutritional profile. It is also engineered to last little longer once produced, which makes it possible to extend the distribution existence of the product. It uses less water essential fields or the planted. There is requirement to have smaller amount of in-field operations and applications to keep the quality of yield. Moreover, the GMO crops have the longer shelf life compared to other normally grown crops.
Based on the type of food, the global GMO crop market is segmented into vegetables, animal products, crops and fruits. Based on the crop type, GMO is segmented into soyabean, alfalfa, zucchini, apple, corn, cotton, potato, sugar beets, papaya and others. Based on the traits, they can be segmented into insect tolerance, herbicide tolerance and others. Based on farming practices, market can be segmented into plant protection, resistance and tillage. Based on type of modification, they can be segmented into transgenic, cisgenic, subgenic and multiple trait integration. Based on sales channel, market can be segmented into modern trade, direct sales, e-retail and other retail outlets. In addition, some of the other applications using GMO are include biofuel efficiency, stress tolerance, nutritional enhancements, disease resistance and remediation of polluted sites.
The Environmental Protection Agency (EPA), the U.S. Department of Agriculture (USDA), and the Food and Drug Administration (FDA) are some of the government agencies associated with agriculture industry at the federal level. These organizations drive specific aspects of crops and its products.
The global GMO market is primarily driven by the increasing investment in biotechnology research & development, rise in genetically modified crops area or plantation, rise in demand of crop yield, increase in agriculture productivity with the decreasing need of harmful or the dangerous pesticide. In addition, some of the other key factors adding to restraining the market include stringent government regulation, concerns issues such as allergies and low consumer awareness.
Globally, the North American region holds significant share in terms of the revenue due to increase in authorization of new bio engineered food. During 2018-2025, it is anticipated that the Asia-Pacific region to grow rapidly owing to the increase in population in the region with the growing adoption of new technologies in the farming sector to meet the basic necessity of the growing population.
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