According to the report, global demand for bio seeds market was valued at over USD 21.5 billion in 2015, is expected to reach around USD 36.5 billion in 2021 and is anticipated to grow at a CAGR of around 9.5% between 2015 and 2021. Zion Market Research has published a new report titled “Bio Seeds (Soybeans, Corn, Sugar Beets, Canola and Others) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021.”
Genetic engineering is the technique used for cloning or manipulating DNAs or genes to prompt new characteristics in an organism or create protein or hormone. Genetic engineering is typically used for generating recombinant DNA and is carried out by inserting preferred trait gene or by removal or mutating the gene in virus or cell known as the vector. Genetically modified organisms include genetically engineered plants, animals or microbes. Bio seeds are the example of genetically modified crops. Bio seeds consist of the desired properties and are done by incorporating preferred gene as per required quality.
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Use of bio seeds is rising as bio seeds exhibit high yield with little or no need for pesticides and fertilizers. Erosion of fertile and arable, growing demand for food, unfavorable weather conditions are expected to boost the demand for bio seeds. However, lack of information and knowledge among the undeveloped and developing countries for bio seeds is the major constraint for bio seeds market. Yet, increase in selection for the healthy diet and escalating development in the agricultural sector is likely to open new market avenues in the near future.
Key product segments of bio seeds include soybean, corn, sugar beet, canola, and others. Corn dominated the bio seeds market with more than 35% share of the total revenue generated in 2015. Commercially, corn was the largest cultivated crop and had the highest consumption in the same year.
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Corn was used as raw material for the production of ethanol and this factor led to rapid growth of corn market consequently rising the market for bio seeds. Soybean accounted for the highest consumption with 30% of total share owing to utilization of soybean as animal feed. Sugar beets and canola are projected to show the positive impact on the growth of bio seeds market in near future.
North America dominated the bio seeds market with 30% shares of total revenue in 2015. U.S. among the North America holds more than 35% of share in the total market. U.S. faced strong objection from customers due to some of the bio crops grown by the bio seeds had effects on the human body such as tumors, birth defect, and infertility. Europe is the second largest market for the bio seeds. Germany, Switzerland, and France among others are the leading markets. Developing economies include China and India is expected to experience the fastest growth owing to market availability, fewer restrictions led by the government for the production of bio seeds. The Middle East and Africa are estimated to show decent growth in the forecast period.
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Some of the key players in bio seeds market include DLF-Trifolium, Bayer Crop Science, and Land O’ Lakes, Syngenta, Monsanto, Takii, Sakata and DuPont among others. Monsanto emerged as the leading company in the global market for bio-seeds.