The Business Research Company's Genetically Modified (GM) Crops Market Global Report 2020: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, July 9, 2020 /EINPresswire.com/ — The global genetically modified (GM) crops market is expected to decline from $21.73 billion in 2019 to $20.69 billion in 2020 at a rate of -4.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $26.72 billion in 2023 at a rate of 8.9%. The environmental concerns and benefits offered by GM crops propels the demand for the market over the forecast period. The exponential increase in population around the globe also drives the need to implement genetically modified crops. However, stringent regulations imposed on the approvals of GM crops limit the growth of the market during the period.
The term genetically modified refers to the transfer of genes between the organisms using a series of laboratory techniques known as recombinant DNA technology. Genetically modified (GM) or genetically engineered crops are plants with new trait which does not occur naturally such as resistance to pests, improved nutrient profile, reduction in spoilage and resistance to chemical treatments. The GM crops which are grown commercially include sugar beet, papaya, maize, potato, oilseed rape, cotton, and others.
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The global GM crops market is further segmented based on type and geography.
By Trait: Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST), Others.
By Crop: Soybean, Cotton, Maize, Oilseed Rape, Tobacco, Others.
By Geography: The global GM crops market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American GM crops market accounts for the largest share in the global GM crops market.
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Trends In The Genetically Modified (GM) Crops Market
In September 2019, Bayer CropScience Limited completed the acquisition of Monsanto India Limited for an amount of $63 billion. This acquisition was aimed towards expanding Bayer’s business and consumer base in India. Such mergers and acquisitions are a trend in the industry.
Genetically Modified (GM) Crops Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides GM crops market overviews, analyzes and forecasts GM crops market size and growth for the global GM crops market, GM crops market share, GM crops market players, GM crops market size, GM crops market segments and geographies, GM crops market trends, GM crops market drivers and GM crops market restraints, GM crops market’s leading competitors’ revenues, profiles and market shares. The GM crops market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Where To Learn More
Read Genetically Modified (GM) Crops Global Market Report 2020 from The Business Research Company for information on the following:
Markets Covered: Global Genetically Modified (GM) Crops Market
Data Segmentations: Genetically Modified (GM) Crops Market Size, Global And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Genetically Modified (GM) Crops Market Organizations Covered: Bayer AG, BASF SE, Syngenta AG, The Dow Chemical Company, Dupont, Groupe Limagrain, JR Simplot Co., JKAgri Genetics Ltd., Maharashtra Hybrid Seed Company (MAHYCO), Calyxt Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa
Time Series: Five years historic (2015-19) and forecast (2019-23)
Other Information And Analyses: PESTEL analysis, GM crops market customer information, GM crops market product/service analysis – product examples, GM crops market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global GM crops market in 2020 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Genetically Modified (GM) Crops Industry: The report explains a number of strategies for companies in the GM crops market, based on industry trends and company analysis.
Opportunities For Companies In The Genetically Modified (GM) Crops Sector: The report reveals where the global GM crops industry will put on most $ sales up to 2023.
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