Biotech seeds or genetically modified seeds are used in agriculture. The deoxyribonucleic acid in the seeds is genetically modified to delivering the best results. Further, biotech seeds offer a greater resistance to insects and fungicides, which have driven market demand in the recent years. The widespread use of biotechnology incorporation in agriculture sector such as seed breeding technologies is expected to further benefit the growth of the market over the forecast period. In addition, a higher approval rate from regional and international authorities for the use of biotech seeds is expected to favor global market expansion.
Some other key benefits associated to use of biotech seeds further include protection against disease and fungicides, and a longer seed life cycle. Moreover, these players have made a significant contribution to the high market demand of recent years. The biotech seeds are also used to improving the germination rate and providing the uniformity, thereby overcoming seed dormancy issues.
Referring to the study, Global Biotech Seeds Market 2020-2030 by Breeding Type (Transgenic, Gene-edited, RNAi-based), Trait Type (Stacked, Herbicide-tolerant, Insect-resistant, Desirable, Virus-resistant), by Crop Type (Soybean, Maize, Cotton, Canola), and Region: Trend Forecast and Growth Opportunity. some key companies operating in the global biotech seeds market include Kaveri Seed Company Ltd., Bayer AG, KWS SAAT SE, Sakata Seed Corporation, DLF Seeds A/S, Syngenta AG, Corteva Agriscience, Monsanto, Advanta Seeds, S&W Seed Co. and among others. The global market for biotech seeds is highly competitive. The major players represent significant market shares. With the presence and expansion of these many local players, the market is highly competitive with players exploiting the potential demand for biotech seeds worldwide.
By breeding type, biotech seeds market can be segregated as Gene-edited Seeds, Transgenic Seeds and RNAi-based Seeds. By trait type, market can be segregated as Herbicide-tolerant Traits, Desirable Traits, Stacked Traits, Insect-resistant Traits and Virus-resistant Traits. In addition, by crop type, market can be segregated as Alfalfa, cotton, squash, potato, maize, soybean, canola, papaya, sugar beet, and others.
Rise in the level of awareness among farmers, followed by significant investment by leading industry players and increase in number of patent regarding incorporation of biotech seeds are some major factors, which are responsible for growth of the biotech seeds market.
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Based on regional analysis, the North-America is a leading region in global biotech seeds market owing to favorable laws & regulation associated with the use of biotech seeds coupled with increase in the number of research & development activities across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to increase in number of patents granted by India & China in biotech technology, growth in disposable income coupled with increase in agricultural activities to sustain ever-growing population over the forecast period. It is projected that the future of the global biotech seeds market will be bright on account of growth in technological advancements such as adoption of hybridization as well as genetically modified seeds during the forecast period.
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