Genetically Modified Seeds Market Size, Share, Growth Analysis, By Crop Type(Insect Tolerance, Herbicide Tolerance), By Region - Industry Forecast 2024-2031

In 2021, North America accounted for a majority of the global market for genetically modified seeds. This was likely due to the high adoption of these crops in the region. Canada was among the top countries in the world producing genetically modified crops. This was evidenced by the area of land that was used to grow these crops, which was 11.55 million hectares. And, since most GM crops are adopted fairly quickly, this means that 93% of these crops were actually put into practice that year. In 2016, five genetically modified crops were grown in Canada—soybean, canola, maize, sugar beet, and alfalfa. This increased the total acreage planted by about 5%. Additionally, the Canadian Food Inspection Agency (CFIA), approved cultivation of SU Canola and innate potato. Increasing government support for the promotion of genetically modified seeds is one of the main factors driving the growth of the market.

Asia Pacific is expected to exhibit fastest growth over the forecast period. Agricultural biotechnology is showing strong growth in emerging markets such as India and China, improving crop yields under changing environmental conditions such as drought and salinity. The International Service for the Acquisition of Agri-Biotech Applications (ISAAA) reports that approximately 7.2 million farmers adopted IR cotton in 2016 with the intention of increasing the amount of cotton that can be produced per hectare. Virus-resistant papaya was planted on 8,550 hectares of land in China, while IR cotton was planted on 2.8 million hectares.There are a number of benefits associated with the use of genetic seeds, including lower insecticide application costs and increased crop yields. These factors have led to increasing demand for genetically modified seeds in Asia Pacific.