NEW
YORK, July 17, 2024 /PRNewswire/ -- The
global genetically modified (GMO) food market size is
estimated to grow by USD 46.8 billion
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of 7.07% during the forecast period. High demand for
crop production is driving market growth, with a trend
towards innovations in gene-editing technologies.
However, increase in demand for organic food products poses a
challenge. Key market players include BASF SE, Bayer AG, Cibus,
Corteva Inc., FMC Corp., Groupe Limagrain, JK Agri Genetics Ltd.,
KWS SAAT SE and Co. KGaA, Rasi Seeds
P Ltd., Sakata Seed Corp., Stine Seed Co., Syngenta Crop Protection
AG, Tata Sons Pvt. Ltd., Terranova Seeds Australia, and UPL
Ltd..
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Genetically Modified
(GMO) Food Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.07%
|
Market growth
2024-2028
|
USD 46.8
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.43
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 35%
|
Key
countries
|
US, China, Japan,
Canada, and France
|
Key companies
profiled
|
BASF SE, Bayer AG,
Cibus, Corteva Inc., FMC Corp., Groupe Limagrain, JK Agri Genetics
Ltd., KWS SAAT SE and Co. KGaA, Rasi Seeds P Ltd., Sakata Seed
Corp., Stine Seed Co., Syngenta Crop Protection AG, Tata Sons Pvt.
Ltd., Terranova Seeds Australia, and UPL Ltd.
|
Market Driver
The global genetically modified food market is experiencing
significant growth due to the premium pricing of non-genetically
modified food products. Consumers, while health-conscious, often
base their purchasing decisions on affordability. In the US, over
half of the population expresses concerns about genetically
modified food, but the health effects remain unclear. As
non-genetically modified food prices continue to rise, consumers
may switch to genetically modified alternatives during the forecast
period. Reasonable pricing and uncertainty surrounding the health
effects of genetically modified food are key factors driving market
growth.
Genetically Modified (GMO) food market is witnessing significant
trends in food security through the use of gene technology and
genome editing. Key crops like herbicide resistant soybeans,
insecticide resistant soybeans, corn, canola, sweet potato, rice,
and others are being modified to increase yield and reduce reliance
on harmful pesticides. New innovations include the addition of
essential nutrients like iron and vitamins in foods, such as
bananas and rice. Recombinant DNA technology and transgenic crops
are revolutionizing the industry, leading to the production of
vaccines for infectious diseases like Hepatitis B, and even new
plastics. However, there are risks and controversies surrounding
GMOs, including health concerns, consumer choice, ethics, and
environmental impact. Mechanisms for labeling and public education
are crucial to address these issues and ensure food safety. New
technologies, such as gene manipulation, continue to emerge,
raising questions about potential allergens and antibiotic
resistance. The market for genetically modified foods, also known
as transgenic and genetically engineered foods, is expected to
grow, but addressing public concerns and ensuring safety remains a
top priority. The potential for poverty reduction and advancements
in fish farming and human health are also significant opportunities
for the industry.
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Market Challenges
- The organic food market is experiencing significant growth due
to the increasing number of health-conscious consumers and growing
environmental concerns. Organic food products, which are free from
synthetic pesticides, genetic modification, and petroleum-based
fertilizers, are in high demand. Major retailers like Wal-Mart
and Costco in the US, as well as the restaurant industry in
developed countries, are expanding their organic food offerings.
Government support, including subsidies, financial aid, and
research programs, is also driving the growth of organic farming.
This trend is expected to increase the demand for agricultural
biologicals and organic manures, essential for organic farming.
Consequently, the rise in organic food consumption may hinder the
expansion of the genetically modified food market during the
forecast period.
- The GMO food market faces challenges in winning consumer
acceptance due to health concerns. Prominent drivers include health
benefits, such as increased nutritional value and reduced pesticide
use. However, potential health risks, like cancer and
gastrointestinal discomfort, linked to GMOs create skepticism.
Allergies are another concern, with some consumers wary of
consuming foods with altered DNA. Innovative GMO products, like
beverages and food processing, offer opportunities for growth.
Techniques used in genetic engineering, like gene guns,
electroporation, microinjection, and Agrobacterium, enable the
introduction of desired traits, such as herbicide tolerance, insect
resistance, and stacked traits. Soybeans, cotton, maize, oilseed
rape, and tobacco are common GMO crops, with techniques like gene
stacking and Crispr technologies driving advancements. Companies
like Origin Agritech, Monsanto, COODETEC, Nidera, and Sensako lead
the market, focusing on nitrogen-fixing crops, animal feed, and
addressing food waste and biofuel demand. Haploid induction
techniques are also gaining traction to improve crop
productivity.
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Segment Overview
This genetically modified (gmo) food market report extensively
covers market segmentation by
- Type
- 1.1 Vegetables
- 1.2 Crops
- 1.3 Fruits
- 1.4 Animal products
- Product Type
- 2.1 Herbicide tolerance (HT)
- 2.2 Insect resistance (IR)
- 2.3 Stacked traits (ST)
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Vegetables- Genetically modified vegetables offer
advantages such as faster growth and higher yields, making them
valuable in meeting the increasing food demand. These modifications
also provide resistance to pests and diseases, reducing the need
for chemical pesticides and minimizing crop losses. Additionally,
genetically modified vegetables can withstand extreme weather
conditions, enhancing their resilience to climate change. The
global vegetable market is expected to grow due to factors like the
expanding food industry, rising consumer expenditure, and
increasing health consciousness. The vegetable segment is
particularly driven by the growing vegan population and the demand
for exotic vegetables. Consumers in both developed and developing
nations have higher disposable incomes, leading to increased
demand. Genetically modified vegetables are accessible through
offline and online retail channels, with the latter gaining
popularity due to the convenience and wide variety of offerings,
including exotic vegetables. The growing disposable income,
especially in emerging economies, and the demand for exotic
vegetables will fuel the growth of the vegetable segment in the
global genetically modified food market.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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reports
The global plant-based protein products market is witnessing
robust growth due to rising health consciousness and increasing
veganism trends. Key players are innovating to meet the demand for
sustainable and nutritious alternatives. Similarly, the global
non-GMO food market is expanding as consumers seek healthier and
more natural food options. The demand for transparency and food
safety is driving this market, with significant contributions from
major food brands and organic producers. Both markets are poised
for substantial growth, driven by consumer preferences and evolving
dietary trends.
Research Analysis
The genetically modified (GMO) food market refers to the
production and consumption of nutrition-rich foods derived from
organisms with altered genetic structures. This involves the use of
genetic modification techniques, such as gene technology and
recombinant DNA technology, to introduce better characteristics
into plants and animals. Edible organisms, including soybeans,
cotton, corn, canola, and sweet potato, are commonly modified to
enhance traits like herbicide tolerance, insect resistance, and
stacked traits. These modifications aim to improve conditions for
farmers, such as increased shelf life and resistance to pests,
while maintaining or enhancing the nutritional value of the food.
Microorganisms are also used in the production of GMO foods through
various genetic engineering techniques. The result is a diverse
range of transgenic crops and herbicide resistant soybeans,
insecticide resistant soybeans, and other GMO foods that offer
improved characteristics for farmers and consumers alike.
Market Research Overview
The Genetically Modified (GM) food market encompasses a wide
range of nutrition-rich foods derived from genetically modified
organisms (GMOs), including plants and animals. These edible
organisms exhibit better characteristics under specific conditions,
such as longer shelf life, sweet flavor, and better texture, making
them highly sought-after in today's global market. The demand for
GM foods continues to grow due to their health benefits, which
include combating diseases like cancer and gastrointestinal
discomfort, as well as addressing allergies caused by pesticides
and toxic substances. Innovative products in the GM food market
include beverages, food processing techniques, and taste
preferences. Genetic engineering techniques, such as gene guns,
electroporation, microinjection, Agrobacterium, transgenic,
cis-genic, and sub-genic methods, are used to introduce desirable
traits like herbicide tolerance, insect resistance, and stacked
traits into agricultural crops, animal feed, and even food waste
reduction. Trait types include nitrogen fixing crops, haploid
induction techniques, and gene stacking, among others. Companies
like Origin Agritech, Monsanto, COODETEC, Nidera, Sensako, and
others are at the forefront of this industry, driving food security
through genome editing, gene technology, and the development of
living organisms and microorganisms using recombinant DNA
technology. GM foods extend beyond crops to include transgenic
soybeans, corn, canola, sweet potato, rice, and even human vaccines
for infectious diseases like hepatitis B. The future of the GM food
market holds exciting possibilities, with the advent of CRISPR
technologies and the development of iron-fortified bananas and
vitamin-enriched rice.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Vegetables
- Crops
- Fruits
- Animal Products
- Product Type
-
- Herbicide Tolerance (HT)
- Insect Resistance (IR)
- Stacked Traits (ST)
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
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trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
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With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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