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The Genetically Modified Food market size is projected to increase by USD 46.8 billion at a CAGR of 7.07% between 2023 and 2028. The agricultural industry is experiencing significant growth due to increasing global population demands for crop production and a rising consumer trend toward nutritional and functional foods. In response, biotechnology companies are innovating by producing genetically altered crops with enhanced nutritional value, improved resistance to pests and diseases, and increased yield. For instance, genetically modified (GM) seeds and crops like Golden Rice, which contains higher levels of Vitamin A, and GM soybeans with enhanced protein content, cater to the nutritional needs of a growing population. Furthermore, GM crops with resistance to herbicides and pests increase agricultural productivity and reduce the need for synthetic fertilizers and pesticides, contributing to sustainable farming practices. This fusion of technology and agriculture is revolutionizing the industry and addressing the challenges of feeding a growing population while ensuring food security and sustainability.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The herbicide tolerance (HT) segment will account for a significant share of market growth during the forecast period. HT can be defined as the ability of a plant to withstand exposure to specific herbicides, which are chemicals used to control weeds. One of the key features of herbicide-tolerant food products is that they can be sprayed with herbicides without being damaged or killed, enabling farmers to control weeds and increase crop yields more effectively. Some of the broad-spectrum herbicides, such as glyphosate and glufosinate, which have been grown commercially since the 1990s, are tolerated by the products. Moreover, there are currently so many products with tolerance to different types of herbicides on the market or in research. This, in turn, is expected to drive the growth of the HT segment which in turn will drive the global market during the forecast period.
The market share growth by the vegetables segment will be significant during the forecast period. One of the dominating segments in the global market with a major market share is genetically modified vegetables. Factors such as the growing food industry across the world, coupled with increasing consumer expenditure on fresh food products such as vegetables, are significantly contributing to the growth of the genetically modified vegetables segment.
The vegetable segment was valued at USD 34.90 billion in 2018
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As there is an increase in the vegan population, simultaneously, there is a significant rise in the demand for vegetables. One of the key factors driving the growth of the vegetable segment is the increasing awareness of the advantages of eating healthy foods in developed and developing markets. Genetically modified vegetables are available to customers through both offline and online retail channels. There is an increasing preference for online channels as online channels allow consumers to shop from home at their own convenience and provide a wide variety of genetically modified vegetables, including exotic vegetables such as tomatoes, potatoes, and baby corn, which are not easily available at offline stores. Hence such factors are expected to growth of the vegetable segment which in turn will drive the global market during the forecast period.
APAC is estimated to contribute 35% to the growth of the global market during the forecast period
Get a glance at the Genetically Modified Food Market Share of various regions View PDF Sample
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Some of the key reasons which drive the growth of the market in North America are technological advancements and growing urbanization. For instance, The market is dominated by the US, with an 83.66% share, followed by Canada and Mexico. In 2021 and 2022, herbicide-tolerant soybean acreage increased slightly to 95%. Herbicide-tolerant cotton acreage expanded from approximately 10% in 1997 to 56% in 2001 before reaching a high of 94% in 2021. There has been a significant transition in the market in North America due to mergers and acquisitions as well as rapid research and development activities and the advancement and adoption of agricultural biotechnology at a greater level. Hence, such factors are expected to drive the global market during the forecast period.
The market involves the modification of edible organisms such as plants and animals to enhance traits like shelf life and nutrition. Genetic engineering techniques like recombinant DNA technology enable the development of traits such as herbicide tolerance and insect resistance in crops like soybeans and corn. Stacked traits, including herbicide resistance and insect resistance, offer better characteristics and contribute to nutrition-rich foods. This market addresses various conditions through the manipulation of genetic structure in living organisms and microorganisms, providing solutions to agricultural challenges while navigating ethical and regulatory considerations. The market harnesses gene technology to develop transgenic crops with traits like herbicide resistance and insecticide resistance, as seen in products such as herbicide resistant soybeans and canola. These advancements aim to enhance crop yield and resilience, addressing agricultural challenges effectively.
The genetically modified (GMO) food market is experiencing significant growth due to escalating demands for increased crop production and the rising preference for nutritional and functional foods. Farmers and food producers are increasingly turning to genetically altered crops to enhance yield, improve resistance to pests and diseases, and add desirable nutritional properties.
Furthermore, this trend is driven by the global population's growing needs for sustainable and efficient food production systems, as well as consumers' increasing awareness of the health benefits associated with consuming GMO foods. As a result, the GMO food market is poised for continued expansion in the coming years.
Premium pricing of non-genetically modified food products is expected to have a positive impact on the market in the coming years. Even though the majority of the population is more health-conscious and there is a growing concern about the health aspects of food products, the purchasing decision of non-genetically modified food products is often based on price.
For instance, over half of the consumers in the US have concerns about genetically modified food products, but they are not aware of the health effects. It is anticipated that there will be a shift in consumer preference for these products with the continuous increase in the pricing of non-genetically modified food products. One of the key reasons for this is that the pricing is reasonable, and the health effects are unclear to most consumers. Hence, the adoption of premium pricing of non-genetically modified food products will drive the growth of the global market during the forecast period.
An increase in demand for organic food products will be a major challenge for the global market during the forecast period. Factors such as a rise in the number of health-conscious individuals, growing environmental concern, and government support toward awareness and the use of organic products are driving the increasing demand for organic food products.
Additionally, some of the benefits of organic food products are they are free from synthetic pesticides and genetic modification, and petroleum-based fertilizers. Furthermore, factors such as growing concerns for improving health and rising consumer awareness about organic food benefits are driving the demand for organic food products among consumers when compared to these products. One of the major factors which fill the demand of health-conscious customers is the increase in the distribution to the retail sector. For instance, popular supermarket chains such as Wal-Mart and Costco in the US are expanding their offerings of organic food. Hence, such factors are expected to hinder the global Market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is fuelled by the demand for nutrition-rich foods and innovations in genetic engineering techniques. Genetically modified crops like soybeans, maize, and oilseed rape offer better characteristics, addressing global demand for cost-effective, nutrition-dense food. Despite controversies and public concerns regarding safety and ethics, genetically modified foods promise solutions to food security challenges and poverty reduction. Innovations such as CRISPR technologies and gene stacking enable the development of crops with enhanced traits, including insecticide resistance and drought tolerance. However, concerns persist over potential health risks, environmental effects, and the need for rigorous safety tests to ensure allergenicity and toxicity. With ongoing advancements, the market faces the challenge of balancing consumer choice with safety and ethical considerations. The global market is seeing advancements in trait types, including insecticide-resistant soybeans and GM seeds, while also incorporating crops like sweet potato.
Moreover, the market is shaped by advancements in genetic engineering techniques, targeting organisms such as plants and animals to enhance traits like shelf life, flavor, and texture. Prominent drivers include the quest for cost-effectiveness and the pursuit of a healthy lifestyle with potential health benefits such as cancer prevention. However, concerns over gastrointestinal discomfort, allergies, and the presence of toxic substances persist. Innovative products like genetically modified crops, including herbicide-resistant soybeans and insecticide-resistant corn, cater to various needs in agriculture and food production. Public concern regarding food safety and labeling underscores the importance of transparent communication and responsible gene manipulation practices. Despite controversies, genetically modified foods continue to evolve, offering solutions to global challenges while addressing consumer preferences and nutritional needs.
Furthermore, the market encompasses various aspects of genetic manipulation and food production, addressing concerns and opportunities. Innovations like genome editing and recombinant DNA technology allow for the modification of genetic structure in organisms, including agricultural biotechnology crops and livestock. Techniques such as microinjection and electroporation facilitate the introduction of desired traits, such as herbicide resistance in soybeans and insecticide resistance in corn. Despite advancements, issues like health concerns and labeling persist, emphasizing the need for transparent communication. The market also caters to various nutritional needs, with modified crops enriched with iron, vitamins, and essential nutrients. However, concerns over allergens and toxins necessitate rigorous safety assessments to mitigate health risks. In addressing global challenges, genetically modified foods continue to evolve, offering solutions while navigating ethical and regulatory landscapes.
Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.07% |
Market growth 2024-2028 |
USD 46.8 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
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 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market condition forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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