The Global Genetically Modified Foods Market size is expected to grow at a CAGR of 11.6% during the forecast period from 2021 to 2028, reaching a value of USD 3.2 billion by 2028. The market is driven by factors such as increased demand for food products with improved quality and yield, increasing need for sustainable agriculture practices due to climate change, and consumer preference towards natural ingredients in their food items.
Genetically Modified Foods are plants or animals that have been genetically engineered with the intention of introducing new, desirable traits. Genetic modifications can also be done to make animal products like milk more nutritious, tastier, or easier to farm in an environmentally friendly way. As such genetic engineering has implications for both human health and environmental sustainability. Although many people still have reservations about how safe it is to eat these foods, it would seem as though there are no short-term health hazards linked to eating them at this stage in development.
On the basis of Type, the market is segmented into Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST).
Herbicide tolerance is a type of genetically modified organism (GMO) that has been specifically engineered to tolerate exposure to herbicides. Herbicide resistance allows crop producers the ability to use chemicals, such as glyphosate or glufosinate, for weed control without damaging their crops. The most common use for herbicide tolerance in crops is to control weeds. Herbicides are applied in the form of sprays or incorporated into soil and can be used as either pre-emergent (before weed growth) or post-emergent (after weed growth).
Farmers use them because they provide an alternative means of controlling weeds without having to resort to tilling fields which destroys all vegetation. The practice has allowed for what was once considered “dead zones” where no crop could grow an area that is now productive farmland thanks largely to modern agriculture practices like using herbicide-tolerant seeds. There are also environmental benefits since the chemicals reduce erosion and runoff from farms with conventional tillage methods such as using a plow.
In the process of creating new genetically modified (GM) food, researchers have been able to create plants that are resistant to pests such as aphids and whiteflies. These insects can destroy crops in a matter of days but insect resistance technology has helped farmers protect their harvests from these destructive creatures. Insects tend to lead to yield losses at three stages: when they pollinate plants, when they eat away at leaf material or feed on sap; and finally by transmitting diseases from plant species with which they come into contact.
The stacking of traits is a process in which two or more genetically modified traits are combined and transferred to the same plant. The combination of multiple GM crop types into one agricultural product has several advantages for farmers, including increased productivity without additional inputs such as pesticides.
The use of stacked traits in agricultural products for animal feed is different from other applications because the product does not change, but rather how it is used. Farmers would have a variety of GM crops that could be grown depending on which trait was desired by the consumer. For example, eggs may come from chickens fed with insect-resistant corn and soybean meal to produce eggs free of harmful bugs or unwanted allergens. Stacked Traits are usually utilized when one or more traits can’t stand alone due to dependence on another; this means farmers will only see benefits if they buy all three types.
On the basis of Application, the market is segmented into Vegetables, Crops, Animal products, and Fruits. The market has been segmented into these four major categories on the basis of their end-users for which they are used or consumed in food production processes.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific market is expected to witness the fastest growth. The market in North America is also estimated to show a steady increment during the forecast period.
In Latin America, Brazil is one of the major producers of soybeans and corn which are used for animal feed. Other countries such as Argentina and Mexico have shown significant production levels over the past few years. Although the region has been witnessing slow rates of economic growth, it possesses huge potential with respect to agricultural development which can be exploited by governments through investments in research about GM technology available in order to boost the yield from crops such as maize, rice, and wheat due to climate change factors or decreased soil fertility caused by pests, etc., thereby reducing food insecurity conditions prevailing across this region; hence leading towards more prosperous economies on an average.
Up Market Research published a new report titled “Genetically Modified Foods Market research report which is segmented by Types (Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST)), By Applications (Vegetables, Crops, Animal products, Fruits), By Players/Companies Syngenta, Monsanto, KWS SAAT, Bayer Crop Science, BASF, DowDuPont, Limagrain”.
|Report Attributes||Report Details|
|Report Title||Genetically Modified Foods Market Research Report|
|By Type||Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST)|
|By Application||Vegetables, Crops, Animal products, Fruits|
|By Companies||Syngenta, Monsanto, KWS SAAT, Bayer Crop Science, BASF, DowDuPont, Limagrain|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||203|
|Number of Tables & Figures||143|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST) and By Application Vegetables, Crops, Animal products, Fruits.
Some of the companies that are profiled in this report are:
Genetically Modified Foods Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Genetically Modified Foods Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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