About Bioengineered Foods
Genetically modified foods are food derived from organisms, plants, or animals whose genetic structure has been altered so that it doesn’t seem natural. For instance, the introduction of another genetic material from another organism of the same species is called genetic modification. These attributes are what is driving the market forward over the years, and this is expected to continues even after the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Bioengineered Foods market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bayer AG (Germany), BASF SE (Germany), Syngenta AG (Switzerland), The Dow Chemical Company (United States), DuPont de Nemours, Inc.(United States), Groupe Limagrain (France) and KWS SAAT SE & Co. KGaA (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Bioengineered Foods market by Type (Vegetables, Fruits, Crops and Others), Application (Animal Feed, Proteins, Livestock and Others) and Region.
On the basis of geography, the market of Bioengineered Foods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Trait, the sub-segment i.e. Herbicide Tolerance (HR) will boost the Bioengineered Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Genetically modified foods have many health benefits attributed to consumption
Market Growth Drivers:
The demand for bioengineered food is increasing due to its various benefits such as less use of pesticides
Challenges:
Unintentional transfer of engineered genes to wild plants or disruption of ecosystems are potential risks.
Restraints:
Adverse health effects of bioengineered food such as the development of cancer
Opportunities:
Rising concerns regarding the nutritive value of food
In March 2020, the U.S. Food and Drug Administration, in collaborated with the U.S. Environmental Protection Agency and the U.S. Department of Agriculture, today launched a new initiative to help consumers better understand foods created through genetic engineering, commonly called GMOs or genetically modified organisms.
Health Canada and the Canadian Food Inspection Agency (CFIA) share the responsibility for food labelling policies under the Food and Drugs Act. Health Canada's responsibilities for food labelling fall within the Department's mandate to safeguard health and safety, while CFIA leads the federal program to develop general food labelling policies and regulations. In particular, the CFIA is responsible for protecting consumers from misrepresentation and fraud with respect to food labelling, packaging and advertising, and for prescribing basic food labelling and advertising requirements.
Key Target Audience
Bioengineered Foods Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.