The global demand for increased production capacity with limited existing resources along-with very less or no use of pesticide is believed to supplement the growth of genetically modified food market.
Recent report published by research nester titled “Global Genetically Modified (GMO) Food Market : Analysis & Opportunity Outlook 2021”delivers detailed overview of the global genetically modified (GMO) food market in terms of market segmentation by type, by trait and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global genetically modified (GMO) food market has been segmented into vegetables, crops, animal products and fruits. Among these segments, vegetables and crop segment is anticipated to dominate the market in near future. Factors such as soil fertility, high production rate combined with great nutritional content in food are expected to drive the growth of the market over the forecast period.
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The production of genetically modified crops is anticipated to increase from 112 million tons in 2015 to 130million tons in the year 2021. These factors are envisioned for the expansion of the global genetically modified (GMO) food market in upcoming years.
The global market for genetically modified (GMO) food is anticipated to grow at a compound annual growth rate of 3.2% by the end of 2021. This can be attributed to the nutritional value it offers. The demand for GMO food is on a continuous rise due to stacked traits and a mix of more than one transgene is expected to see the highest growth when compared to Herbicide Tolerance (HT) and Insect Resistance (IR). This constant rise is expected to drive the growth of global genetically modified (GMO) food market by noteworthy revenue by the end of 2021.
In the regional segment, North America was the largest market for genetically modified food market in the year 2014. Currently in the U.S, 86% of corn, 93% of soybean and 90% of cotton are genetically engineered.
These factors are anticipated to drive the growth of global genetically modified (GMO) food market in North America. Further, in Asia-Pacific region, the countries have witnessed a strong growth in GDP figures in recent years. India and China are projected to be the emergent countries for the genetically modified food market.
Growing Demand for Nutritious Food Products
The global demand for increased production capacity with limited existing resources along-with very less or no use of pesticide is believed to supplement the growth of genetically modified food market. In addition to this, spiked demand for nutritious food items with long shelf life is yet another reason to help GMO food market to expand in upcoming years
However, genetic pollution creation in the soil combined with stringent government regulations to grow GMO food is the major setback for GMO food producers. Further, lack of awareness among people and socially rejection factor are projected to dampen the global genetically modified food market in upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global genetically modified (GMO) food marketwhich includes company profiling of Syngenta Switzerland, Monsanto US, Sakata Japan, Bayer Crop Science Germany, BASF GmbH, DuPont US, Groupe Limagrain France, Dow Chemical Company, KWS SAAT SE and others.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global genetically modified (GMO) food marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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