Global genetically modified (GMO) food market is anticipated to showcase a tremendous CAGR of 3.2% during the forecast period i.e. 2016-2023. Additionally, growing number of population with hectic lifestyle and introduction of high nutrition food are believed to intensify the growth of genetically modified (GMO) food. Moreover, the global genetically modified (GMO) food market is projected to account for 130 Million tons by the end of 2021.
In terms of geography, North America region captured the largest market of global genetically modified (GMO) food in 2014 aided by U.S. Moreover, rapid urbanization along with growing awareness regarding genetically modified (GMO) food products in this region is predicted to trigger the market of genetically modified (GMO) food. Moreover, in the U.S, 86% of corn, 93% of soybean and 90% of cotton are genetically engineered. Apart from this, Europe imports approximately 60 GM products from other countries, especially maize, soy bean, cotton and sugar beet. In addition to this, seventeen new genetically modified food items have been given a green signal to be imported in Europe.
Rising Health Consciousness
Growing concerns among the consumers regarding health and fitness is one the major factor which is projected to flourish the growth of genetically modified (GMO) food market. Moreover, growing awareness regarding the benefits of genetically modified (GMO) foods is also believed to bolster the market of genetically modified (GMO) food.
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Swift expansion of urban region along with wide availability of genetically modified (GMO) food products are anticipated to fuel the growth of genetically modified (GMO) food market across the globe. Furthermore, increased production capacity with limited existing resources along-with very less or no use of pesticide is also boosting the market of genetically modified (GMO) food.
Although, government legislations regarding the GMO food and damage to beneficial insects and soil fertility coupled with genetic pollution are believed to dampen the market of genetically modified (GMO) food across the globe.
The report titled “Global Genetically Modified (GMO) Food Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global genetically modified (GMO) food market in terms of market segmentation by type, by trait and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global genetically modified (GMO) food market which includes company profiling of Syngenta Switzerland, Monsanto US, Sakata Japan, Bayer Crop Science Germany, DuPont US, Bayer Crop Science Germany, Sakata Japan, BASF Gmbh, Group Limagrain France.. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global genetically modified (GMO) food market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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