The global GMO crops and seeds market is treading a growth path for the dire need to expand crop production globally. Due to the exploding global population, crop production via conventional agriculture is insufficient to fulfill the food needs. This has necessitated alternate means of crop production that are viable and sustainable. To that end, GMO seeds have served to not only magnify crop yield but develop robust crop varieties.
In recent years, breakthrough developments in biotechnology have aided the growth of the agricultural sector. With extensive R&D, researchers have been successful to modify genes in laboratory environments. Unlike the traditional methods of the natural process of modifying genes over generations of cross-fertilization, GMO crops and seeds are developed by modifying genes by directly inserting them into the DNA of the seed.
Demand for use as Insecticide accounts for Corn to lead other Crop types
The global GMO crops and seeds market is divided on the basis of crop type, sales channel, trait, and region. In terms of crop type, the GMO crops and seeds market is divided into corn, cotton, sugar beets, papaya, apple, soybean, alfalfa, sugar beets, zucchini, and potato. Among all, corn is predicted to display maximum growth in the GMO crops and seeds market over the forecast period. This is because GMO corn is widely used as an insecticide owing to its efficacy as an insect repellant. In 2017, corn held a whopping 37.8% of the overall market.
By trait, the key segments into which the GMO crops and seeds market is divided are herbicide tolerance and insect tolerance. By sales channel, the global GMO crops and seeds market is divided into modern trade, direct sales, convenience store, and e-retailers.