Future Outlook of the Global Transgenic Seeds Market 2024-2033: Size and Growth Rate Predictions
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
Transgenic Seeds Market: What is the Projected CAGR for 2024-2033?
The market size of transgenic seeds has experienced rapid growth in recent years. An increase from $44.02 billion in 2023 to $50.24 billion in 2024 is expected, marking a compound annual growth rate (CAGR) of 14.1%. The historic period’s growth can be credited to the rise in construction activities, heightened environmental impact awareness, governmental regulations, a boost in outdoor events, and advancements in turf management.
In the coming years, the market size for transgenic seeds is predicted to experience substantial growth. The sector is projected to expand to $81.16 billion by 2028, boasting a compound annual growth rate (CAGR) of 12.7%. The projected growth during this forecast period can be associated with factors such as climate change issues, the emerging practice of sustainable landscaping, the extension of sports facilities, the growth of leisure spaces, and initiatives for urban greening. Key trends to watch out for in this forecast window encompass disease and stress management solutions, improvements in formulations, precise application technologies, tough turf varieties, organic turf administration, along with educational and training initiatives.
Claim Your Free Sample of the Global Transgenic Seeds Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10399&type=smp
What Are the Primary Drivers Supporting the Growth of the transgenic seeds Market?
The anticipated rise in agricultural productivity is believed to be a driving factor for the expansion of the transgenic seed market. When mention of agricultural productivity, it refers to the market value determination of an agricultural system’s crop yield that utilizes resources like land, labor, capital, and other inputs to produce crops. Transgenic seeds have a crucial role in agricultural production since they help cultivate more food using less resource, which ultimately enhances the effectiveness of agricultural land use. This effectiveness results in increased earnings for farmers and consequently boosts the transgenic seed market. A case in point is November 2022, when Eurostat, based in Luxembourg, reported that in 2021, Europe produced 297.5 million metric tons of grain crops, including rice. This figures represents a growth of 4.2% or 12.1 million metric tons when compared to 2020. In addition, the Food and Agriculture Organization, a US-based agency, reported in December 2022 that the global primary crop output elevated by 2% from 2020, amounting to 9.5 billion tons in 2021. Thus, the surge in agricultural productivity is seen as a catalyst for the growth of the transgenic seed market.
What Are the Core Segments of the Transgenic Seeds Market?
1) By Type: Farmland, Green House
2) By Trait: Herbicide Tolerance, Insect- Resistance, Other Traits
3) By Crop: Maize, Cotton, Rice, Soybean, Canola, Other Crops
4) By End -User: Insect Resistance, Herbicide Tolerance, Virus Resistance, Altered Oil Composition, Delayed Fruit Ripening, Male Sterility And Restorer System
What Trends Are Paving the Way for Change in the Transgenic Seeds Market?
The transgenic seed market is witnessing an upward trend of product innovation. To secure their market position, leading companies are concentrating on the development of novel products. Take for example Corteva Inc., an American agriculture firm that in August 2021 launched Conkesta E3, a genetically engineered soybean seed, tailor-made for Brazilian cultivators. The product, which has been approved by the European Union Commission, has excellent genetics and offers robust protection against lepidopteran insects under the Enlist weed control system providing maximum adaptability and superiority in the control of grasses and broadleaf weeds. It also enhances agricultural yield efficiency.
Order Now for Fast Delivery of Your Transgenic Seeds Market Report!
https://www.thebusinessresearchcompany.com/report/transgenic-seeds-global-market-report
Which Regions Are Leading the Charge in Transgenic Seeds Market Development?
North America was the largest region in the transgenic seeds market in 2023. The regions covered in the transgenic seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Transgenic Seeds Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the transgenic seeds market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Transgenic Seeds Market Include
1. Transgenic Seeds Market Executive Summary
2. Transgenic Seeds Market Segments
3. Transgenic Seeds Market Size And Template Market Growth Rate
4. Key Transgenic Seeds Market Trends
5. Major Transgenic Seeds Market Drivers
……
25. Key Mergers And Acquisitions In The Transgenic Seeds Market
26. Top Transgenic Seeds Companies
27. Transgenic Seeds Market Opportunities And Strategies
28. Transgenic Seeds Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Fire Protection Materials For Construction Global Market Report 2024
Cellulosic Fire Protection Intumescent Coating Global Market Report 2024
Passenger Car Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/passenger-car-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
