The global genetically modified (GM) seeds market is forecast to grow at a CAGR of 9.83% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Increased demand for oleo-chemicals will be a key trend for market growth. Oleo-chemicals are used in a number of industries like construction, animal feed, cosmetics, paper and pulp, soaps and detergents, personal care, and foods and beverages.
Other applications of oleo-chemicals are the production of lubricants, solvents, biodiesel, and bioplastics. Due to the multiple applications of oleo-chemicals, there is a strong demand for sustainable and biodegradable chemicals from the respective industries over the last 10 years. This, in turn, is augmenting the growth of GM seeds market. Industries are shifting from petrochemicals to oleo-chemicals due to its cheaper cost and eco-friendly nature.
According to the report, premium pricing of non-GM food products is one of the major growth drivers for the global GM seeds market. Although the population today is more health-conscious, the purchasing decision of non-GM foods is often based on price. It is estimated that more than 68% of all primary grocery shoppers are not willing to pay a higher price for non-GM foods, whereas only 11% were willing to pay more.
Over half of the consumers in the US have concerns about GM food products, but they are not sure about the health effects. It is expected that with the continuous increase in the pricing of non-GM food products, consumers will switch to GM food products. This is because the pricing is reasonable, and the health effects are unclear to most consumers.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- Bayer CropScience
- Groupe Limagrain
- DLF Seeds and Science
- Kleinwanzlebener Saatzuch SAAT SE
- Land O'Lakes
- Sakata Seed
- Takii Seed
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by traits
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Competitor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/j68jrp/global
Related Topics: Seeds
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SOURCE Research and Markets