Genetically modified crops are agricultural plants whose DNA has been altered using genetic engineering techniques. The numerous advantages provided by GM crops are currently driving the market growth. Genetically modified crops have higher nutritional value, a longer shelf life, higher yield, and are resistant to frost, drought, and insect pests. Roundup GM soybeans, for example, are inserted with a gene that provides maximum weed control.
According to Coherent Market Insights, the global genetically modified market was valued at 18.15 billion in 2018 and is expected to grow at an 8.7 percent CAGR in terms of value between 2019 and 2027, reaching 37.46 billion by 2027.
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