Research Nester has recently announced its latest research on “GMO Food Market : Global Demand Analysis & Opportunity Outlook 2023”, after studying the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation.
Global genetically modified organism’s food market is projected to grow at a compound annual growth rate (CAGR) of 3.2% by the end of 2021. The production of genetically modified crops will increase from 112 million tons in 2015 to 130 million tons in the year 2021.
North America was the largest market for genetically modified food market in the year 2014. Currently in the U.S, 86% of corn, 93% of soybean and 90% of cotton are genetically engineered. However, in Canada only four kinds of GM crops are grown; corn, soy, canola, sugar beet.
At present, Europe imports approximately 60 GM products from other countries, especially maize, soy bean, cotton and sugar beet. In addition to that, Seventeen new genetically modified food items have been given a green signal to be imported in Europe. Citing, the reforms in the region and demand for GMO foods, Europe is expected to become one of the net imported of the GMO foods in near future.
Spiked demand for nutritious food items with long shelf life is yet another reason to help GMO food market to expand in coming 7-8 years of time.
However, genetic pollution creation in the soil is the major setback for GMO food producers; government regulations to be met very strictly to grow GMO food. Further, lack of awareness amongst people and socially not accepted factor are projected to dampen the global genetically modified food market in coming years.
To know more about this research, kindly visit https://www.researchnester.com/reports/global-genetically-modified-gmo-food-market-analysis-opportunity-outlook-2021/117