Research Nester published a report titled “Genetically Modified Market: GlobalDemand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global genetically modified (GMO) food market in terms of market segmentation by type, trait, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The genetically modified (GMO) food market is estimated to occupy a large revenue by growing at a significant CAGR during the forecast period, i.e., 2021 – 2029, owing to the rising demand for functional and nutritional foods, increasing production of genetically engineered crops and growing investment in the biotechnology sector. Apart from these, minimal consumption of pesticides required during the cultivation of genetically modified crops is also expected to drive market growth.
The global genetically modified (GMO) food market is segmented by type and trait. Based on type, the segment for crops is anticipated to grab the largest market share during the forecast period on the back of high consumption of soybean and corn around the world. Furthermore, on the basis of trait, the stacked trait (ST) segment is projected to grow at the highest rate, which can be credited to the exceptional disease resistant properties and nutritional content of foods modified with stacked traits.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the growing adoption of biotech crops, escalating production of corn and soybean, and the large number of GMO food exports in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the increasing population and implementation of new technologies for cultivation.
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Increasing Demand for Functional Foods to Boost Market Growth
Since the last five years, there is a rising interest in genetically modified food from emerging economies which has resulted in the increase in production of bioengineered food, also known as genetically modified food. The growing number of health implications and nutrients deficiency among people around the globe is also considered to be a major factor for the growing demand for GMO food, which in turn is evaluated to drive growth to the market in the near future.
However, stringent rules associated with approval of GMO food and rising R&D activities in terms of biotechnology are expected to operate as key restraints to the growth of the genetically modified (GMO) food market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global genetically modified (GMO) food market which includes company profiling of BASF SE (ETR: BAS), Bayer AG (ETR: BAYN), Syngenta Crop Protection AG, Sakata Seed America, DuPont de Nemours, Inc. (NYSE: DD), Groupe Limagrain Holding, KWS SAAT SE & Co. KGaA (ETR: KWS), J.R. Simplot Company, Okanagan Specialty Fruits Inc., Stine Seed Company, and others. 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 genetically modified (GMO) food market that 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.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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