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The global market of genetically modified organism (GMO) crops and seeds is expected to be valued US$ 36,653.2 million (around INR 250,000 crore at exchange rate of Rs 67.97 per US dollar on May 18, 2018) by the end of 2022, with a healthy compound annual growth rate of 8.3 percent during the projected period 2017-2022, a report “GMO Crops and Seeds Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022,” by Research Reports Search Engine (MRRSE) has estimated recently.
This market is segmented into trait, crop type, and sales channel. Crop type segment is further segmented into Soybean, sugar beets, corn, alfalfa, papaya, zucchini, apple, potato and others. The crop of corn dominates the global market of GM crops and seeds. The reason for this domination is huge volume of production of corn is modified genetically in some of the developed countries which is additionally expected to produce an effective insecticide called soil bacterium. The traits segment includes insect tolerance, herbicide tolerance and a segment of other traits, while e-retailers, direct sales, modern trade and other retail outlets are some of the segments of sales channel segment.
This report has covered five regions namely, Latin America, Europe, North America, Middle East & Africa (MEA) and Asia Pacific excluding Japan. It has been noted that North America leads the global market of GM crops and seeds. North America region is likely to record a remarkable rate of growth throughout the projected period and it estimated to be the most striking region in the global market. Nevertheless, Europe is likely to outshine among all the regions with regard to growth rate during the projected period of 2017 to 2022.
The security and safety of the modified genetically crops is a matter of concern for researchers across the globe. According to this report, although the diminished use of pesticide is good for human wellbeing, the consequences of genetically modified crops for human health are not yet completely caught on. According to the Center for Food Safety, corn can trigger an unfavourably susceptible reaction as the real DNA of the corn has been adjusted.
Few key players that are active in this market- DOW Agrosciences LLC, Bejo Zaden BV, Groupe Limagrain Holdings Corp, DLF Seeds and Science, Land O’ Lakes Inc, Takii Seeds, Bayer Crop Science India, KWS SAAT SE, Monsanto Co., Syngenta AG, E.l. du Pont de Nemours & Co., and Canterra Seeds Holdings Ltd.