Global GMO Corn Market - 2023-2030

Global GMO Corn Market - 2023-2030

The Global GMO Corn Market reached US$ 260.1 billion in 2022 and is expected to reach US$ 384.2 billion by 2030 and is expected to grow with a CAGR of 5.0% during the forecast period 2023-2030. Increasing adoption of genetically modified herbicide-tolerant corn varieties is a prominent trend in the GMO corn market. The widespread cultivation of Monsanto’s roundup-ready corn has enabled farmers to effectively control weeds by using glyphosate-based herbicides.

The GMO Corn Market is a thriving sector within the agriculture industry, characterized by the cultivation and trade of genetically modified corn varieties. These varieties have been developed through genetic engineering techniques to possess desired traits such as insect resistance, herbicide tolerance, and increased yield potential. The market is driven by factors such as growing global food demand, advancements in biotechnology, and the need for sustainable agricultural practices.

Growing demand for sustainable agriculture practices significantly drives the GMO corn market. For instance, the adoption of genetically modified insect resistant corn varieties, such as Bt corn, has gained momentum among farmers seeking to reduce pesticide use and minimize crop losses caused by pests. This driver reflects the industry's focus on developing environmentally friendly solutions that promote pest management and sustainable crop production.

Market Dynamics

Increasing Awareness of Food Security is Driving the GMO Corn Market Growth

The rising awareness of food security is one of the key drivers of the GMO corn market growth. Food security is defined as the availability, accessibility, and affordability of food for all individuals at all times. The increasing population, coupled with the limited availability of arable land and water resources, has made it challenging to produce enough food to meet the demand of a growing population.

This has led to an increased interest in developing crops that are more productive, resistant to pests and diseases, and tolerant to environmental stresses. GMO corn can help to address these challenges by increasing yields, reducing crop losses due to pests and diseases, and improving crop resilience to environmental stresses such as drought and heat. These benefits can lead to increased food production, which can help to improve food security and ensure a stable food supply for the growing population.

GMO Corn Market Thrives as Climate Change Drives Demand for Resilient Crop Solutions

The increasing need for crop resilience in the face of climate change drives the GMO corn market trend. Traditional crop cultivation faces challenges due to unpredictable weather patterns and emerging pests and diseases. GMO corn varieties engineered for drought tolerance, heat resistance, and disease resistance enable them to withstand adverse climatic conditions.

Recognizing the importance of developing resilient crops, the GMO corn market is witnessing a surge in adoption. Farmers are increasingly turning to GMO corn to mitigate climate change risks and ensure stable food production. By incorporating genetically modified traits, they can better adapt to changing environmental conditions and safeguard their agricultural yields.

Rising Concerns About the Environmental Impact of GMO Corn Hamper the Market Growth

Concerns about the environmental impact of GMO corn can restrain the growth of the GMO corn market. GMO corn is often engineered to be resistant to herbicides, such as glyphosate, which can lead to the loss of biodiversity. Herbicides can kill off native plants, which can have a ripple effect on the ecosystem, affecting wildlife and insect populations. There is a concern that the genes from GMO corn can transfer to other plants, including wild relatives, which could create new weeds or other unintended consequences.

Some GMO corn varieties have been engineered to produce their own pesticides, such as the BT toxin, which can lead to the development of resistance in target pests. This can create a need for higher pesticide use, which can have negative environmental impacts. Intensive farming practices, including the use of GMO crops, can lead to soil degradation, erosion, and loss of fertility. This can have long-term negative impacts on soil health and productivity.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The Global GMO Corn Market is segmented based on the trait, application, distribution channel, and region.

Feed & Residual Segment Dominates the GMO Corn Market, Fueled by Rising Demand for Animal Protein and Livestock Feed Production

Based on application, GMO corn is divided into food, feed & residual, biodiesel, and others. The feed & residual segment holds a 45% share of the GMO corn market. The global demand for animal protein is increasing, particularly in developing countries, where rising incomes and population growth are driving an increase in demand for meat, dairy, and eggs.

As a result, there is a growing demand for animal feed, primarily from corn, soybean, and other grains. GMO corn has been developed to have higher yields and better resistance to pests and diseases, making it an attractive crop for animal feed production. GMO corn has been engineered to have improved nutritional qualities, such as higher levels of protein and essential amino acids.

This makes GMO corn a more suitable crop for animal feed, as it can help to meet the nutritional needs of livestock and improve their health and growth. As per CropLife, about 70% of harvested crops such as corn. Soybean etc. are taken as animal feed which represents that the livestock populations are the major consumers of GMO crops. Hence, the growing demand for animal feed has made it have the highest share in the GMO corn market.

Geographical Analysis

Asia Pacific Emerges as the Fastest-Growing Market for GMO Corn

The Global GMO Corn Market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The Asia Pacific GMO corn market is a rapidly growing region in the global market. The increasing demand for corn-based food products has been one of the factors driving the growth of the GMO corn market share in the Asia Pacific region. The growing population and changing dietary habits in the region have increased demand for corn-based food products such as breakfast cereals, snack foods, and processed foods.

For instance, as per Statista, in 2021-22 the consumption of Genetically Modified Organism (GMO) corn in China is 11.57 billion bushels. Genetically Modified (GM) corn, developed through biotechnology, genetic modification techniques, and genetic engineering techniques, has been successful in increasing yields, reducing susceptibility to pests and diseases, and enhancing the nutritional content of corn.

These benefits have made GMO corn, also known as Transgenic Corn, an attractive option for farmers and food manufacturers in the Asia Pacific region. As a result, the GMO corn market in the Asia Pacific region, driven by GM technology and biotechnology advancements, has experienced significant growth in recent years, with countries such as China, India, and the Philippines emerging as key producers and consumers of GMO corn.

Competitive Landscape

The major global players include BASF SE, Bayer AG, Syngenta AG, Bayer CropScience, DowDupont, Groupe Limagrain, AgReliant Genetics, LLC, CANTERRA SEEDS, Dow AgroSciences LLC, and The Monsanto Company.

Why Purchase the Report?
• To visualize the Global GMO Corn Market segmentation based on the trait, application, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of GMO Corn market-level with all segments.
• The PDF report consists of a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global GMO Corn Market Report Would Provide Approximately 61 Tables, 60 Figures And 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies