The Asia-Pacific transgenic seeds market size was valued at USD 13.61 billion in 2023 and is anticipated to reach USD 15.39 billion in 2024 from USD 41.05 billion by 2032, growing at a CAGR of 13.05% during the forecast period from 2024 to 2032.
The transgenic seeds market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the rising demand for genetically modified seeds in the feed industry across developing economies.
Transgenic seeds, also known as genetically modified seeds, are seeds used in agriculture that have been modified to suit the environment better and enhance productivity. They are used to introduce certain traits in crops that don’t occur naturally.
There are various factors influencing the growth of the transgenic seeds market. The factors driving the market growth include increasing agricultural productivity, cost reduction and use of farm inputs, regulation limits on pesticide utilization, and industrial preference for products of high quality. On the other hand, the market faces challenges as well, like stringent rules and regulations, the need for high support of R&D, chances of ecosystem disruption, and resistant genes in pests.
Asia Pacific is a fairly developed market, competing with America region for the market share and is expected to at par with them in terms of growth as well.
The major companies dominating the market share include Syngenta AG, E.I. Du Pont De Nemours and Company, BASF SE, Vilmorin & Cie (Limagrain Group), Dow Chemical Company, Suntory Holdings Limited, Monsanto, J.R. Simplot Company, Bayer Cropscience AG, Bejo Zaden B.V.
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