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Global Genetically Modified (GMO) Food Market Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Genetically Modified (GMO) Food Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Genetically Modified Food (GMO) Overview

Since, times the genetically modified food have been approved by FDA for the consumption, there has been a lot of debate over the food for its safety for humans. Despite of all criticism and hindrances, the GMO food market has started picking up in recent years due to the nutritional value it offers. However, the GMO food market is in its nascent stage and has a long way to go to reach on every shelf in the market. As, the demand for GMO food is on a continuous rise, stacked traits, a mix of more than one transgene, is expected to see the highest growth when compared to Herbicide Tolerance (HT) and Insect Resistance (IR).The global genetically modified organism’s food market will 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 112million tons in 2015 to 130million tons in the year 2021.

Market Size and Forecast

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. Furthermore, in Asia-Pacific region the countries are witnessing a strong growth in GDP figures in recent years. India and China are projected to be the emergent countries for the genetically modified food market. CLICK TO DOWNLOAD FREE SAMPLE REPORT

Market Segmentation

By Type

On the basis of type the genetically modified organism’s food market is segmented into:

  • Vegetables
  • Crops
  • Animal products
  • Fruits

By Trait

Based on the type of traits, GMO food market is studied on:

  • Herbicide Tolerance (HR)
  • Insect Resistance (IR)
  • Stacked Traits (ST)

By Region

On the basis of region the genetically modified organism’s food market can be segregated into:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and challenges

A global demand for increased production capacity with limited existing resources along-with very less or no use of pesticide is the major factor that is projected to drive the demand for the GMO food in near future. In addition to this, 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.

 Top Featured Companies Dominating the Market

  • Syngenta Switzerland
  • Monsanto US
  • Sakata Japan
  • Bayer Crop Science Germany
  • BASF GmbH
  • DuPont US
  • Groupe Limagrain France
  • Dow Chemical Company
  • KWS SAAT SE and
  • Others

 


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