Global transgenic seeds market worth $35.2 bn by 2020

The global market for transgenic seeds is projected to reach $35.2 Billion by 2020, at a CAGR of 12.3%, according to a new report "Transgenic Seeds Market - Global Trends & Forecast to 2020" published by MarketsandMarkets. The value of the transgenic seeds market was estimated at $17.58 Billion in 2014. 

 

The herbicide-tolerant transgenic seed accounted for the largest share and was followed by the insecticides resistant segment in 2014. All traits of transgenic seeds considered for this study are essential for crop growth, yield enhancement, and to kill a variety of pests. In the same year, North America accounted for the largest share of the herbicide-tolerant segment. Europe contributed the second-largest share.

 

The transgenic seeds market consists of five crops: corn, soybean, cotton, canola, and others that include fruits & vegetables, turf, ornamental & forage crop, and other cereals & oilseed crops. The demand for transgenic corn seeds accounted for the largest share in 2014, and was followed by the soybean and cotton in the same year. For corn, North America was the largest market for transgenic seeds in 2014; 90% corn production in North America is based on transgenic seeds.

 

The demand for new and varied transgenic seeds products with better yield of crops and quality products is increasing in the market. Leading companies are engaging in the production of transgenic seeds on a global scale, because it is considered to be a growing market in the agriculture industry. Existing companies are actively introducing new agricultural transgenic seed products with different traits to meet the expected yield from crops.