Europe GMO seed market was valued at USD 10.80 billion in 2023 and is anticipated to reach SUD 11.82 billion in 2024 from USD 24.37 billion by 2032, estimated to be growing at a CAGR of 9.46%, from 2024 to 2032.
GMO stands for genetically modified organism and it circumscribes a lot of products in industries which include medicinal, scientific and agricultural applications. GMO refers to seeds in the matter of agriculture and food consumption. Genetically modified seeds have been used by farmers around the world for about 20 years. GM seeds have distinct traits which set them apart from other seeds. They include qualities like herbicide resistance, insect resistance and efficient water usage.
The Europe GMO Seed market is driven by the rise in adoption of biofuels and the increased demand for animal feeds. Furthermore, the increasing threat from global food companies to non-GM food products and the premium pricing of non-GM foods also act as substantial factors of market growth. Supportive governmental policies encouraging the use of GMO seeds also acts a driver for market growth. However, issues of Intellectual Property Rights and delays in certifying GMO seeds by administrative arms of governments act as restraints on market growth.
As of 2016, Europe holds the second position in the global market share analysis. The rapid growth in demand for biofuels is set to further boost the market growth in Europe.
Monsanto, Bayer CropScience, DowDuPont, Grooupe Limagrain, Syngenta. These are the market players that are dominating the Europe GMO seed market.
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