The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. The Growth of GMO Soybean market is huge. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry
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Genetically modified organisms (GMO) soybeans have gained immense traction in the recent past, owing to their potential to alleviate hunger and poverty worldwide. However, researchers from the Food and Agriculture Program have stated that real impacts of GMO soybean deserve in-depth assessment. Amount of agricultural land utilized for producing GMO food such as GMO soybean has surged over the past few years, with majority of producers being situated in the U.S., Canada, India, Brazil and Argentina.
GMO soybeans have their genetic materials engineered via biotechnologies for engulfing enhanced and new characteristics such as drought tolerance, enhancement of certain nutrients, insect resistance and herbicide tolerance. Benefits of utilizing biotechnologies for production of GMO soybeans include saving efforts & time and curtailing market risks for farmers, rather than enhancing productivity by improving yield.
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Currently, demand for GMO soybeans is primarily driven by rapid adoption in animal feed as well as in the form of GMO soybean oil worldwide. Although cultivating herbicide-tolerant soybean has lower risks to environment, the benefits are being restrained by herbicide resistance being developed in weeds. GMO soybeans are one of the most utilized genetically modified plants across the globe, with majority of the applications in livestock feed and oil production. With demand for soybeans increasing globally as a protein source, GMOs hold potential benefits for producers.
In terms of volume as well as value, North America will remain dominant in the global GMO soybean market. GMO soybeans already have high popularity among North American consumers. GMO soybeans in North America have improved resistance to insects and weeds, which in turn helps the farmers to boost productivity. Structure of some government insurance programs complement the productivity by providing farmers with more incentives for planting GMO seeds such as those of GMO soybeans.
The European Commission has approved an array of GMO products such as GMO soybeans, although the pace of approvals has been relatively slow. European livestock and feed manufacturing industry has a keen interest in authorization of GMO soybean imports, as soybean is considered to be a source of high-quality and protein-rich feed. Europe will remain the second largest market for GMO soybean, in terms of volume as well as value.
Food is expected to remain the largest application of GMO soybean, in terms of value. Revenues from sales of GMO soybean for application in food are projected to account for nearly half market share by 2026-end. Biodiesel and feed will also remain lucrative applications of GMO soybean.
In terms of value, direct sales are anticipated to be the fastest expanding sales channel for GMO soybean, closely trailed by modern trade. These two sales channel will spearhead the global market for GMO soybean during the forecast period, in terms of revenues. Based on trait, stacked (HT+IT) and herbicide tolerant GMO soybean will remain sought-after in the market, with revenues collectively estimated to surpass US$ 320,000 Mn by 2026-end.
Key market players tracked by the report include AgReliant Genetics LLC, BASF SE, Bayer CropScience, Dow Agroscience, E.I DuPont De Nemours and Company, Canterra Seeds Holdings Ltd., Syngenta AG, Groupe Limagrain Holdings SA, and Monsanto Company.
According to Fact.MR, the global GMO soybean market will register a splendid 14.3% CAGR during the period 2017 to 2026. Approximately 600,000,000 metric ton of GMO soybean will be sold around the world by 2026-end.
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The report answers important questions which include:
- Why is player leading the GMO Soybean Market in region?
- Which factors pose a negative impact on the GMO Soybean Market growth?
- What was the value registered by the GMO Soybean Market in 2018?
- What challenges do the GMO Soybean Market players face during R&D stages?
- Which countries contribute a significant share to the total market revenue in region?
Key findings of the Market report:
- Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the GMO Soybean market.
- In-depth analysis of important market segments, market potential, impacting trends, and challenges.
- Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
- Extensive investigation of the effects of the growth of relevant industries.
- Accurate data regarding the future prospects of the Market during the forecast period.
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