The research report presents a comprehensive assessment of the market and contains thoughtful information, facts, historical data, and market data supported by statistics and validated by the industry. The growth of the GM soybean market is enormous. It also contains projections using an appropriate set of assumptions and methodologies. The research report provides analysis and information based on market segments such as geographies, applications, and industry
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GMO (Genetically Modified Organisms) soybeans have grown in popularity in the recent past, due to their potential to reduce hunger and poverty around the world. However, researchers from the Food and Agriculture Program have said that the real impacts of GM soybeans merit careful assessment. The amount of farmland used to produce GM foods such as GM soybeans has increased in recent years, with the majority of producers located in the United States, Canada, India, Brazil and Argentina.
GM soy has its genetic material engineered through biotechnology to engulf improved and new characteristics such as drought tolerance, enhancement of certain nutrients, insect resistance, and herbicide tolerance. The benefits of using biotechnology for the production of GMO soybeans include savings in effort and time and reduced market risks for farmers, rather than improving productivity by improving yield.
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Currently, the demand for GMO soybeans is mainly driven by its rapid adoption in animal feed as well as in the form of GMO soybean oil around the world. Although growing herbicide tolerant soybeans presents less risk to the environment, the benefits are limited by the development of herbicide resistance in weeds. GM soy is one of the most widely used genetically modified plants in the world, with the majority of applications in animal feed and oil production. As the demand for soybeans increases globally as a source of protein, GMOs have potential benefits for producers.
In terms of both volume and value, North America will remain dominant in the global GM soybean market. GM soybeans are already enjoying great popularity with North American consumers. GM soybeans in North America have improved resistance to insects and weeds, which in turn helps farmers increase their productivity. The structure of some government insurance programs complements productivity by providing farmers with more incentives to plant GM seeds such as GM soybeans.
The European Commission has approved a range of GMO products such as GM soybeans, although the pace of approvals has been relatively slow. The European livestock and feed manufacturing industry is very interested in allowing imports of GMO soybeans, as soybeans are considered to be a source of high-quality, high-protein feed. . Europe will remain the second largest market for GM soybeans, in terms of volume and value.
Food is expected to remain the largest application of GM soy, in terms of value. Revenues from sales of GM soybeans for food application are expected to account for almost half of the market share by 2026. Biodiesel and animal feed will also remain lucrative applications of GM soybeans.
In terms of value, direct sales are expected to be the fastest growing sales channel for GM soybeans, closely followed by modern commerce. These two sales channels will spearhead the global GMO soybean market during the forecast period, in terms of revenue. Based on the trait, stacked GM (HT + IT) and herbicide tolerant soybeans will remain in demand in the market, with revenues collectively estimated to be over US $ 320,000 million by 2026.
Major market players monitored by the report include AgReliant Genetics LLC, BASF SE, Bayer CropScience, Dow Agroscience, EI DuPont De Nemours and Company, Canterra Seeds Holdings Ltd., Syngenta AG, Groupe Limagrain Holdings SA and Monsanto Company.
According to Fact.MR, the global GM soybean market will register a stunning 14.3% CAGR during the period 2017 to 2026. About 600,000,000 metric tons of GMO soybeans will be sold globally by 2026.
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The report answers important questions, including:
- Why is the actor the leader of the GMO soy market in the region?
- What factors are negatively impacting the growth of the GMO soybean market?
- What was the value recorded by the GM soybean market in 2018?
- What challenges do players in the GMO soy market face during the R&D stages?
- Which countries significantly contribute to the total market turnover in the region?
Key Findings of the Market Report:
- Main manufacturers, raw material suppliers, equipment suppliers, traders and distributors in the GMO soy market.
- In-depth analysis of important market segments, market potential, impacting trends and challenges.
- Critical review of the strengths, weaknesses, opportunities and threats of each market player.
- In-depth 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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