Genetically Modified Seeds Market - 9.83% CAGR to 2020
PUNE, India, September 7, 2016 /PRNewswire/ --
The global genetically modified seeds market 2016-2020 report says increased demand for oleo-chemicals will be a key trend for market growth as oleochemicals 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 genetically modified seeds market. Industries are shifting from petrochemicals to oleo-chemicals due to its cheaper cost and eco-friendly nature.
Complete report on genetically modified seeds market spread across 67 pages, analyzing 5 major companies and providing 50 data exhibits is now available at http://www.rnrmarketresearch.com/global-genetically-modified-seeds-market-2016-2020-market-report.html.
The analysts forecast global genetically modified seeds market to grow at a CAGR of 9.83% during the period 2016-2020. According to the genetically modified seeds market 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.
The growth of the market can be accredited to the rise in adoption of biofuels. Biofuels are made up of energy crops such as wheat, soybean, sugarcane, and corn. Governments of different countries in APAC and Africa are also trying to reduce the use of conventional fuels and encourage the use of biofuels. As a result, farmers in these regions have increased the use of biofuel crops for maximum yields. In 2015, the global genetically modified seeds market was dominated by North America with a market share of around 30%.
North America will continue to dominate the genetically modified seeds market during the forecast period and is likely to occupy around 30% of the total market share by 2020. The growing adoption of biotechnology in agricultural practices is one of the latest developments in the North American market. With various advancements in GM seeds, this market has become innovative and is providing solutions to farmers for several environmental conditions like drought, salinity, and disease stress that affect the yield and production of many crops.
The following companies are the key players in the global genetically modified seeds market: Bayer CropScience, DowDuPont, Groupe Limagrain, Monsanto and Syngenta. Other prominent vendors in the market are: BASF, DLF Seeds and Science, Kleinwanzlebener Saatzuch SAAT SE, Land O'Lakes, Sakata Seed, and Takii Seed. Order a copy of Global Genetically Modified Seeds Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=678333.
Global Genetically Modified Seeds Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. To calculate the genetically modified seeds market size, the report considers the revenue generated through the sale of corn seeds, soybean seeds, cotton seeds, canola seeds, and other seeds to the agricultural farmers of GM crops in the market.
Another related report is Global Seeds Market 2016-2020, trend that is boosting market growth is the innovations in seed technology. Manufacturers worldwide are focusing on developing innovative seed technologies to meet the growing demand for food production worldwide. These technologies are developed to improve production yields and nutrition profiles, lower the costs of production, and offer value-added traits. Innovative seed technologies are tested to be in tandem with ongoing global trends. Browse complete report @ http://www.rnrmarketresearch.com/global-seeds-market-2016-2020-market-report.html.
Explore other new reports on Agriculture Biotechnology Market @ http://www.rnrmarketresearch.com/reports/life-sciences/biotechnology/agriculture-biotechnology.
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