Asia Pacific Genetically Modified (GMO) Seeds Market Size Set to Grow at Significant CAGR of 9.57% Touching USD 9.77 Billion by 2029

Published | 11 December 2023

Asia-Pacific Genetically Modified (GMO) Seeds Market is flourishing due to an increasing demand for high-yielding crops to meet the spurring need for feeding rapidly growing population and advancements in biotechnology.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific Genetically Modified (GMO) Seeds Market size at USD 5.65 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia Pacific Genetically Modified Seeds Market size to grow at a significant CAGR of 9.57% reaching a value of USD 9.77 billion by 2029. Asia-Pacific Genetically Modified (GMO) Seeds Market is propelled by the growing population and demand for food driving the adoption of high-yielding genetically modified crops for enhanced agricultural productivity. Technological advancements in biotechnology and seed development, coupled with a rising need for pest-resistant and drought-tolerant crops, contribute to market growth. Government initiatives supporting the adoption of genetically modified seeds for sustainable agriculture further fuel the market growth. Also, the awareness about the benefits such as improved crop yields and reduced environmental impact drives farmer acceptance of GMO seeds. Overall, the Asia-Pacific Genetically Modified (GMO) Seeds Market is shaped by a complex interplay of technological, economic, and regulatory factors.

Opportunity – Increasing Adoption of Biofuels

The Asia-Pacific Genetically Modified (GMO) Seeds Market is experiencing significant growth due to the increasing adoption of biofuels. The trend is driven by various factors, such as the elevated cost of crude oil, the inconsistent supply of fossil fuels, and the associated political and environmental issues related to fossil fuels. Also, the growing environmental awareness among consumers is contributing to a rising demand for biofuels. Further, biofuels, derived from various crops like soybeans, sugarcane, and corn, play a crucial role in ensuring environmental sustainability, reducing dependence on fossil fuels, and minimizing pollution. Farmers across Asia Pacific are increasingly adopting GMO plants and seeds which would help them cultivate with enhanced yields, a trend expected to drive the growth of the Asia-Pacific Genetically Modified (GM) Seeds Market during the forecast period.

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Asia-Pacific Genetically Modified (GMO) Seeds Market – By Sales Channel

By sales channel, Asia-Pacific Genetically Modified (GMO) Seeds Market is divided into Direct Sales, Modern Trade, and E-Retailers segments. The modern trade segment is the largest, reflecting a growing preference for organized retail channels in the region. The segment encompasses various established retail formats, contributing significantly to the distribution and sales of genetically modified seeds. The shift toward modern trade underscores evolving consumer preferences and the adoption of efficient supply chain mechanisms, influencing the dynamics of the GMO seeds market in the Asia-Pacific region.

Competitive Landscape

Asia-Pacific Genetically Modified (GMO) Seeds Market is fiercely competitive. Major companies in the market include JK Agri Genetics Limited, Nufarm, Bayer AG, Syngenta Crop Protection AG, J.R. Simplot Company, Mahyco, Cibus, and Stine Seed Company. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Asia-Pacific Genetically Modified (GMO) Seeds Market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Genetically Modified (GMO) Seeds Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in the Asia-Pacific Genetically Modified (GMO) Seeds Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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