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.
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Adoption of genetically modified organisms (GMO) soybean has surged considerably since the recent past, mainly because of their potential of alleviating hunger & poverty across the globe. Nevertheless, researchers from Food and Agriculture Program emphasize on detailed assessment of GMO soybean to realize their real impacts. Amount of arable land being used for production of GMO crops such as GMO soybean is surging, with the U.S., India, Brazil, Canada and Argentina being major producers. GMO soybean has its genetic materials engineered with the help of biotechnologies for incorporating enhanced characteristics such as enhancement of certain nutrients, insect resistance, herbicide tolerance and drought tolerance. Advantages of employing biotechnologies for GMO soybeans production include saving time & efforts and reducing the market risks for farmers, rather than just enhancing productivity by making improvements in yield.
Key Projections on Future of GMO Soybean Market for Forecast Period 2017-2026 (In Terms of Value)
1- North America is anticipated to prevail as the fastest expanding market for GMO soybean through 2026. More than two-fifth market revenue share will be accounted by sales of GMO soybean in North America by 2026-end. Asia-Pacific excluding Japan (APEJ) and Europe are also poised to remain remunerative for the GMO soybean market. However sales in APEJ are projected to exhibit a comparatively faster expansion than sales in Europe through 2026.
2- GMO soybean sales in APEJ and Latin America are projected to record expansion at an approximately similar CAGR through 2026. However, revenues from the GMO soybean market in Latin America will remain significantly lower than those from APEJ.
3- On the basis of trait, stacked (HT+IT) GMO soybean will remain the most lucrative in the market, with revenues projected to rise at the highest CAGR through 2026. Herbicide tolerant GMO soybeans will continue to be the second most lucrative among traits of GMO soybean in the market. However, sales of herbicide tolerant GMO soybean will register the lowest CAGR through 2026.
4- Direct sales will endure as the dominant sales channel for GMO soybean, followed by modern trade. Revenues from these two sales channel segments are collectively projected to account for more than three-fourth market share by 2026-end.
5- Food will continue to remain leading application segment in the global GMO soybean market, in terms of revenues, trailed by biodiesel. Sales of GMO soybean for application in feed will exhibit a relatively faster expansion than that in biodiesel through 2026.
Competitive landscape:
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
- Monsanto Company.
Market Taxonomy:
· By Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
· By Trait :
- Herbicide Tolerant
- Insect Tolerant
- Stacked (HT+IT)
- Other Traits
· By Sales Channel :
- Direct Sales
- Modern Trade
- Convenience Store
- E-Retailers
- Other Retail Outlets
· By Applications :
- Food
- Feed
- Biodiesel
- Research Applications
- Other Applications
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Questionnaire answered in the Market outlook Report of GMO soybean include:
- What is the key strategy deployed by large players to maximize GMO soybean Market growth?
- What are the main challenges faced by players in the GMO soybean market Demand?
- With the advent of technological advancement, how will the GMO soybean market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the GMO soybean market size?
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