According to a new market report published by Lucintel, the future of the global genetically modified seed market looks promising with opportunities in the corn, soybean, cotton, and canola segments. The global genetically modified seed market is expected to reach an estimated $43.57 billion by 2022 and is forecast to grow at a CAGR of 9.8% from 2017 to 2022. The major growth drivers for this market are increasing global population and food requirements, rising demand for animal feed, and rising adoption of bio-fuels and oleo-chemicals.

In this market, corn, soybean, cotton, and canola are the major crop types of genetically modified seed. On the basis of its comprehensive research, Lucintel forecasts that the corn seed is expected to remain the largest segment due to increase in demand of bio-fuels, growth in demand of food and feed, and increase ethanol production. Lucintel predicts that the demand for soybean is likely to experience the highest growth in the forecast period supported by increasing demand for soybean oil, oleo-chemicals, and livestock feed.

Within the global genetically modified seed market, the herbicide tolerance segment is expected to remain the largest market by trait type because it offers flexibility to use herbicides, fight against unwanted weeds, and lowers the cost of herbicides used in agriculture. These properties of herbicide tolerance have presented sound opportunities for genetically modified seed in the corn and soybean segment, which will spur growth for this segment over the forecast period.

North America is expected to remain the largest region due to an increase in the population and food requirements, growth in the demand of bio-fuels and oleo-chemicals, and an increase in the demand for livestock feed.

Rest of the world is anticipated to see above average growth over the forecast period due to increasing population and food requirements and growing adoption of genetically modified seed in Brazil and Argentina....Read more
http://www.lucintel.com/genetically_modified_seed_market_2017.aspx