Global Genetically Modified Crops Market Size By Type (Corn, Soybean), By Application (Scientific Research, Agriculture Crops), By Region, And Segment Forecasts, 2023 to 2032

The Global Genetically Modified (GM) Crops Market was valued at USD 80 billion in 2023 and is projected to surpass USD 125 billion by 2031, growing at a CAGR of 5.8% during the forecast period. The GM crops market is expanding due to rising global food demands, increasing crop yield and resilience in the face of climate change, and advances in genetic engineering technology. These crops provide enhanced nutritional content, pest resistance, and tolerance to environmental stressors, making them critical in addressing food security and agricultural efficiency challenges globally.

Drivers:

Growing Global Food Demand: With an increasing global population, GM crops are essential to improving yield per acre, ensuring that food supply meets rising demands.

Resistance to Pests and Diseases: Genetic modifications enhance pest and disease resistance, reducing the need for pesticides and other chemicals, which benefits both environmental health and farmers’ costs.

Climate Resilience: GM crops have improved tolerance to adverse weather conditions, such as drought and extreme temperatures, helping farmers maintain crop yields despite climatic shifts.

Restraints:

Regulatory Challenges: Varying regulatory landscapes and public skepticism about the safety of GM crops pose significant barriers in many countries, impacting market expansion.

High R&D Costs: The development of GM seeds requires extensive research and regulatory approval, which can be costly and time-consuming, limiting smaller players' market entry.

Opportunity:

Expanding Demand in Emerging Economies: Growing urbanization and food needs in emerging markets present substantial opportunities for GM crops, where yield enhancement and pest resistance are highly valued.

Integration with Advanced Technologies: Developments in CRISPR and gene-editing technologies could enable the production of GM crops with even greater precision, leading to more widespread adoption.

Market by Crop Type Insights:

The Soybean segment held the largest market share in 2023, attributed to its widespread use in food, feed, and industrial applications. Additionally, corn is expected to witness significant growth, driven by demand for biofuel and animal feed. These crops have been modified for herbicide resistance and improved yield, making them economically valuable across various sectors.

Market by Trait Insights:

The Herbicide Tolerance trait dominated the market in 2023 due to its benefit in reducing the need for chemical herbicides, allowing for more sustainable agricultural practices. Meanwhile, Insect Resistance is anticipated to grow rapidly, providing protection against crop-damaging insects and minimizing pesticide use.

Market by Regional Insights:

North America led the GM crops market in 2023, benefiting from well-established regulatory frameworks and high adoption rates. However, Asia-Pacific is projected to be the fastest-growing region, driven by increased food demand, limited arable land, and supportive government policies in countries like China, India, and the Philippines.

Competitive Scenario:

Key players in the GM crops market include Bayer AG, Corteva Agriscience, Syngenta, BASF SE, and Calyxt Inc. These companies are investing in R&D, strategic partnerships, and expanding their product portfolios to strengthen market positions. Recent developments include Bayer’s launch of climate-resilient crop varieties in 2023 and Corteva's advancements in gene-editing technologies to enhance crop yield and resistance.

Scope of Work – Global Genetically Modified Crops Market

Key Market Developments:

2023: Bayer AG launched climate-resilient corn and soybean varieties with enhanced drought tolerance to help farmers cope with extreme weather.

2024: Corteva Agriscience announced a collaboration with a leading biotech firm to develop GM crops with enhanced nutrient profiles, aiming to address malnutrition in emerging markets.

2025: BASF SE received approval for a new insect-resistant cotton variant, targeting pest issues in the Asia-Pacific region.

FAQs

What is the current market size of the Global Genetically Modified Crops Market?

The market size was valued at USD 80 billion in 2023.

What is the major growth driver of the Global Genetically Modified Crops Market?

The major growth driver is the rising demand for food security solutions through enhanced crop yield and resistance.

Which is the largest region during the forecast period in the Global Genetically Modified Crops Market?

North America holds the largest market share, though Asia-Pacific is expected to grow the fastest.

Which segment accounted for the largest market share in the Global Genetically Modified Crops Market?

The Soybean segment accounted for the largest market share in 2023, with corn also growing significantly.

Who are the key market players in the Global Genetically Modified Crops Market?

Key players include Bayer AG, Corteva Agriscience, Syngenta, BASF SE, and Calyxt Inc.