Genetically Modified Crops Market Growth Accelerated by Increased Adoption of Drought and Pest Resistant Crops

Genetically Modified Crops Market


The global Genetically Modified Crops Market has witnessed substantial growth over the past few years owing to the growing need for high yield and nutrition enriched crops to meet the increasing global food demand. Genetically modified crops are designed to resist pests, diseases, herbicides, or stress conditions such as lack of water or cold temperatures which makes them highly suitable for cultivation.

The global Genetically Modified Crops Market is estimated to be valued at US$ 126.99 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Increased adoption of drought and pest resistant genetically modified crops is one of the key trends driving the growth of the genetically modified crops market. These genetically modified seeds have properties such as the ability to grow in low rainfall areas, resistance to leaching, and tolerance to diseases and pests among others. Farmers are increasingly opting for such GM seeds as they provide higher yields even in unfavorable weather conditions and require minimal application of pesticides which has further boosted their demand across major crop producing regions globally. This growing preference for genetically modified drought and pest resistant crop variants among farmers is expected to accelerate the market growth over the coming years.

Segment Analysis
The global genetically modified crops market is segmented on the basis of crop type and traits. Based on crop type, the market is segmented into soybean, maize/corn, cotton, canola, and other crops. Maize/corn dominates the global market as it is one of the most widely cultivated GMO crops. The high acreage of maize cultivation coupled with its importance as a staple food makes it the largest segment.

Key Takeaways
Global Genetically Modified Crops Market Demand is expected to witness high growth.

Regional analysis: North America region currently dominates the global market due to large scale cultivation of genetically engineered crops like maize, soybean and cotton in countries like the U.S. Asia Pacific is expected to be the fastest growing region owing to rising acceptance of genetically modified agriculture as a means to boost crop yields and meet the increasing demand for food.

Key players operating in the genetically modified crops market are PPD Inc., Icon Plc, Syneos Health, Laboratory Corporation of America Holdings, and Charles River Laboratories International Inc.. PPD Inc. and Icon Plc are among the leading CROs serving the genetically modified crops industry through their wide range of services including discovery, preclinical, clinical and laboratory testing. 

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