The North American genetically modified seeds market size is expected to reach USD 14.55 billion in 2024 and reach USD 23.29 billion by 2029, growing at a CAGR of 9.87% from 2024 to 2029.
Genetically modified seeds are the seeds that are used in farming. Their DNA is modified by using genetic engineering procedures. Mostly, the target is to induce a new trait into the crop which is usually absent in the species.
The growth of the genetically modified seeds market can be attributed to the increase in adoption of biofuels, growth of North America population and the consequent food demand, growing demand for animal feed, and preference for oleo-chemicals. Growing acceptance of biotech drought-tolerant plants and increasing demand for high yield crops are also considered to be the driving factors of this market.
As of 2016, North America dominated the global market with a market share of around 30%. The growing acceptance of biotechnology in farming practices is the latest development in the North American market.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the North America Genetically Modified Seeds Market are ayer CropScience, DowDuPont, Groupe Limagrain, Monsanto and Syngenta, BASF, DLF Seeds and Science, Kleinwanzlebener Saatzuch SAAT SE, Land O'Lakes, Sakata Seed, and Takii Seed.
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