“The Genetically Modified Seeds Market share was valued at USD 50.82 billion in 2019 and it is projected to reach USD 86.59 billion by 2028 growing at a CAGR of 6.1% during the forecast period, 2016-2028. The market for Genetically Modified Seeds market has been segmented in major regions to understand the global development and demand patterns in this market. The Genetically Modified Seeds market has been segmented in North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, & the Rest of the World.
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With an emphasis on strategies, there have been several primary developments done by major companies such as Monsanto Company Inc., Dupont, Syngenta AG, Bayer AG, Dow Chemical Company, Bayer CropScience, GroupeLimagrain, BASF
In terms of revenue and consumption of Genetically Modified Seeds, the Asia Pacific held a major market share globally in 2019. The Asia Pacific is expected to emerge as a relatively fast-growing region owing to the increasing demand from the paints & coating industry along with the growth in wood and plastic industries.
The market has been segmented as: By Product Type (Herbicide Tolerance, Insect Resistance), By Application (Corn, Soybean)
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This comprehensive market analysis explores market growth potential for Genetically Modified Seeds market that can help the stakeholders understand key developments and expectations in the market for Genetically Modified Seeds market-defining opportunities for growth and competitive scenarios. Moreover, the utilization of those products in industrial applications is beneficial for the reduction of cost and ensure fast cycle time.
Some of the key Impact Factors:
- The growing demand for Genetically Modified Seeds in the paints & coatings industry.
- The high demand for Genetically Modified Seeds as a turpentine substitute may drive the Genetically Modified Seeds market.
- Consumer focus shifting towards low aromatic Genetically Modified Seeds.
- Increased consumption of white spirit in the construction and automotive industries.
- A rise in the disposable income of the population can enhance market growth.
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