Global drought resistant crops market is driven by increasing agricultural research on advancements in Agri-commodities in the forecast period, 2023-2027. According to TechSci Research report, “Drought Resistant Crops Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027” The global drought resistant crops market growth may register impressive growth with an anticipated CAGR in the forecast period, 2023-2027, on account of surging demands for genetically modified plants with enhanced abilities.
The Important Aspects of Drought Resistant Crops Market
Agricultural practices are also rapidly growing in desert lands, drought struck regions and other difficult terrains. Demand for modified crops and seeds for agricultural practices is increasing since normal environmental conditions and availability of the resources are not feasible, thus driving the growth of the global drought resistant crops market in the upcoming five years. Also, increasing research and development of genetically modified plants and food crops further supports the growth of the global drought resistant crops market in the next five years. The growing population and increasing demands for food security toward the growing population are also some of the major factors responsible for the growth of the global drought resistant crops market in the future five years. Evolving agricultural practices like hydroponics and greenhouse practices in GCC countries also promote market growth.
Advancements in plant biotechnology, like the gene modification process in seeds, aid the growth of better and higher yields of crops, thus substantiating the growth of the global drought resistant crops market. Depleting environmental conditions, higher temperatures, global warming, lack of high-quality nutrients, scarcity of water, etc. reasons are further aiding the growth of the global drought resistant crops market in the forecast years until 2027. Government initiatives, investment in research and advancements, favorable schemes, and water resource availability through government measures are expected to further drive market growth in the forecast period.
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The market segmentation of global drought-resistant crops is based on crop type, distribution channel, regional distribution, and competitive landscape. The market is further bifurcated on crop type into corn/maize, soybean, cotton, canola, and others. Corn/ maize is anticipated to dominate the crop type segment of the market while holding the largest revenue shares of the market due to the higher production of corn crops in the world. Moreover, genetic modification in crops is more feasible, and recent research is made on maize crops to fulfill the growing demands from the animal fodder sector too. Soybean and cotton are anticipated to register significant growth in the upcoming five years on the grounds of increasing demands from artificial or plant-based milk production surging in recent times. Moreover, edible oil is also extracted from soybean, and since the consumption of the same increases, the growth of the crop type is also expected to grow, thus aiding the growth of the global drought resistant crops market in the next five years.
The market is also segmented by distribution channels, online and offline. An offline distribution channel is anticipated to hold the largest revenue shares of the market and dominate the market in the upcoming five years on account of increasing demands from the small farmers in the weaker economy regions.
Some of the market players, dominating the global drought resistant crops market are :
- Bayer CropScience LLC
- Syngenta AG
- Monsanto Company
- BASF SE
- Nuseed Pty Ltd.
- Calyxt Inc.
- Jk Agri Genetics Ltd.
- Maharashtra Hybrid Seed Company (MAHYCO)
- Stine Seed Farm Inc.
- Cyanamid Agro Ltd.
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“North America is anticipated to dominate the market analysis due to higher crop production and increasing research and development in the field. Increased investment in research institutes, and technological advancements to genetically modified crops and seeds such that they survive even in harsh climatic conditions, are expected to further substantiate the growth of the global drought resistant crops market in the upcoming five years. Asia Pacific region is also expected to register significant growth in the future five years due to the largest agricultural zone presence in the region. Countries like India, China, etc., are actively involved in agricultural practices, and with the conjugation of research and advancements, the region is expected to grow. The Middle East & Africa region is expected to generate maximum demands for genetically modified drought-resistant crops and seeds in the recent future years to support growing demands of desert farming practices,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Drought Resistant Crops Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Crop Type (Corn/Maize, Soyabean, Cotton, Canola, Others), By Distribution Channel (Online v/s Offline), By Region”, has evaluated the future growth potential of global drought resistant crops and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global drought-resistant crops market.
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