Latin America GMO Seed Market was worth USD xx million in 2021 and estimated to be growing at a CAGR of xx%, to reach USD xx million by 2026.
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 modifies 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.
Latin America GMO Seed Market Drivers:
The Latin America 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.
Latin America GMO Seed Market - By Product:
corn
Latin America GMO Seed Market - By Traits:
The Market is Geographically divided into:
Latin America:
The huge rise in spending in the GMO Seed market has increased the demand in the market. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia. The availability of large customer base with rising disposable incomes is set to drive the market in the foreseeable future.
Key Players:
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