Global Genetically Modified Food Market Overview:
Genetically modified food also known as genetically engineered foods or bioengineered foods are produced from plants or animals whose DNA has been altered through genetic engineering. Genetic modification is a special set of gene technology that alters the genetic machinery of such living organisms as animals, plants, or microorganisms. It helps to the introduction of new traits as well as greater control over traits.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Demand for Innovative Products
Market Growth Drivers:
Demand for Nutritious Food Items with Long Shelf Life and Increasing Demand for High-Yielding Crops
Challenges:
Lack of Awareness about the Benefits of GMO
Restraints:
Damage to Beneficial Insects and Soil Fertility
Opportunities:
Growing Demand for Food Due To Increasing World Population and Rising Demand for Healthy Food Products
Competitive Landscape:
Manufacturers focus on research and development to create new GM food products with unique properties that differentiate them from existing products. Companies may also partner with academic institutions and research organizations to access cutting-edge technology and expertise.
Some of the key players profiled in the report are Monsanto (United States), DuPont (United States), Syngenta (Switzerland), Bayer (Germany), BASF Gmbh (Germany), Groupe Limagrain (France), KWS SAAT SE & Co. KGaA (Germany) and ACH Food Companies, Inc. (United States). Analyst at AMA Research see Global Players to retain maximum share of Global Genetically Modified Food market by 2028. Considering Market by Crop, the sub-segment i.e. Corn will boost the Genetically Modified Food market.
Latest Market Insights:
In 2019, DowDuPont spun off its agriculture division into a separate publicly traded company called Corteva Agriscience. Corteva Agriscience is one of the leading producers of genetically modified seeds and crop protection products.
In May 2022, an innovative seed treatment called VICTRATO was introduced by Syngenta Switzerland to combat harmful nematodes and illnesses that affect crops. In turn, this will contribute to improving crop quality and output.
The regulatory bodies involved in genetically modified foods include the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), and the U.S. Department of Agriculture (USDA). Moreover, the European country is regulated by The European Food Safety Authority (EFSA) is responsible for assessing the safety of genetically modified food in the EU.
What Can be Explored with the Genetically Modified Food Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Genetically Modified Food Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Genetically Modified Food
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Genetically Modified Food market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Genetically Modified Food market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Genetically Modified Food Manufacturers, Research Institutes, Distributors, Government Bodies & Associations and End-user.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.