Biotechnologies help Farmers Producing GMO Soybeans in Reducing Market Risks and Production Time

Posted on 2019-02-07 by Mark Hub in Food & Beverage // 0 Comments

Rockville, USA, 2019-Feb-07 — /EPR Network/ — 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.

At present, demand for GMO soybean is primarily fuelled by robust adoption in animal feed and industrial uses for producing soybean oil. Although producing herbicide-tolerant soybean lowers the risk to the environment, benefits are restrained by growing herbicide resistance in weeds. One of the widely used genetically modified crops across the globe, GMO soybeans seek majority of applications in oil production and livestock feed. With mounting demand for soybean around the world as a protein source, genetic modification has become the key for producers to meet this demand.

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North America to Remain Dominant in the Market

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.

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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.

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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.

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.

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.

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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.

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