The global genetically modified food market garnered a market value of USD 109,173.6 million in 2023 and is expected to accumulate a market value of USD 196,516.8 million by registering a CAGR of 6.5% during the forecast period. The growth of the genetically modified food market can be attributed to the increasing demand for nutrition-rich foods from all age groups. The need for genetically modified food registered a CAGR of 5.8% in the historical period 2018 to 2022.
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.
| Data Points | Key Statistics |
|---|---|
| Genetically Modified Food Market Value (2023) | USD 109,173.6 million |
| Genetically Modified Food Market Value (2033) | USD 196,516.8 million |
| Genetically Modified Food CAGR (2023 to 2033) | 6.5% CAGR |
If the organism is edible, then it becomes genetically modified food. The new organism with a modified genetic structure has better characteristics than the unmodified one since it becomes more adaptable to conditions in which the unmodified species isn’t.
When prepared as food, they have better properties such as high nutritional value, longer shelf life, sweet flavor, and better texture. These properties are significant factors fueling the growth of global genetically modified food, and this is expected to continue over the foreseeable period.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global demand for genetically modified food is projected to increase at a CAGR of 6.5% during the forecast period between 2023 and 2033, reaching a total of USD 196,516.8 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 5.8%.
The cost-effectiveness of genetically modified foods is expected to facilitate the growth of the market during the forecast period. However, the unusual taste associated with genetically modified food as compared with non-genetically modified food is a strong factor that might restrain the market’s growth over the forecast period.
Furthermore, the increasing demand for nutrition-dense food, along with the innovation of different food products, favors the growth of the genetically modified food market. In the upcoming years, research and development of genetically modified food that will help offer a healthy lifestyle is expected to drive the market's revenue.
Growing consumers’ demand for healthy food products driving the growth of genetically modified foods
Genetically modified foods have many health benefits attributed to consumption. Unlike non-genetically modified food, genetically modified food does not cause cancer; neither does it cause gastrointestinal discomfort. The genetic structure of modified food products is such that it doesn’t affect the health of humans.
The alteration is carried out to enhance nutritional value, enhance food taste, and prevent allergies to some food products. These attributes are driving the market forward over the years, which is expected to continue even after the forecast period.
Besides, government stringent regulations on the usage of pesticides or harmful toxic substances in farm products is another factor slated to drive the market forward since most pesticides often remain on plants as residue and this hurts the health of humans
Manufacturers Focusing on Innovative Products
Since genetically modified food can be used in the production of various food products, this has given it an edge in the global market. Genetically modified food is used in beverages, food processing, and many others. Changing taste preferences of consumers, along with the requirement for nutritionally rich foods, is positively influencing the demand for genetically modified foods.
Furthermore, the diversity in the application in the food and beverage industry is a significant factor expected to promote the growth of the genetically modified food market during the forecast period and aftermath.
Principal Consultant
Genetically Modified Foods Market Restraints
Government stringent rules on the consumption of genetically modified food or crops are a strong force hampering market growth. For instance, there are three agencies in the United States, such as the Environmental Protection Agency (EPA), the United States Department of Agriculture, and the Food and Drug Administration, regulating transgenic crops based on different perspectives.
Each key player in the industry has confirmed its genetically modified crop from each body. The demand for non-GMO food and organic crops is restraining the growth of the genetically modified food market.
Maize and corn bolstering the growth of genetically modified food
North America is the largest market for global genetically modified foods in terms of revenue, and it’s expected to remain dominant over the foreseeable period. Agriculture is a major industry in the USA Production of maize and soybean crop is on the rise in the North American region. Moreover, North America is also the largest exporter of genetically modified crops. This, in turn, is increasing the revenue for the market in this region.
The rise in demand for modified food products and the increasing adoption of biotech crops is fuelling demand for genetically modified foods in the region. Thus, North America is expected to possess a 33.8% market share in the genetically modified food market.
Inclination towards nutrition-rich foods boosting the growth of genetically modified foods
Europe is another region contributing to the market of genetically modified foods. The agriculture industry in France produces a variety of genetically modified foods. This, in turn, is helping the food and beverage industry to invent different food products. This is slated to record a healthy CAGR with countries like France, Germany, and Italy.
In addition, increasing disposable income, coupled with the growing population size of individuals requesting genetically modified food, fueling the industry’s growth within the region. Thus, Europe is expected to hold a 39.4% market share of the genetically modified food market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Corn flour and bakery food products increasing demand for genetically modified food
Genetically modified maize is expected to hold the dominant share among different types of genetically modified foods. This is owing to the vast production of the same in North America, Europe, and the Asia Pacific.
In addition, a variety of food products made from corn, such as bakery products and corn flour, contributes to the growth of genetically modified foods. Thus, genetically modified maize is expected to possess a 40% market share of the genetically modified food market in 2022.
Key genetically modified food market start-ups are Brightseed, Corteva Agriscience, Phylos Bioscience, Pairwise, Biome Makers, and Medicinal Genomics.
Key players in the genetically modified food market are Monsanto USA, DuPont US, Syngenta Switzerland, Bayer Crop Science Germany, Sakata Japan, BASF Gmbh, and Group Limagrain:
Recent Developments:
The primary consumer for genetically modified food is the food and beverage industry.
Some of the key genetically modified food market players are Monsanto, DuPont Pioneer, Bayer CropScience, and BASF.
The market is estimated to secure a valuation of US$ 109,173.6 million in 2023.
The market is estimated to reach US$ 196,516.8 million by 2033.
The food and beverage industry holds high revenue potential in the genetically modified food market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Maize 5.2. Soybean 5.3. Canola 5.4. Cotton 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Trait 6.1. Herbicide Tolerance (HT) 6.2. Insecticide Resistance (IR) 6.3. Stacked Traits (ST) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. DuPont 17.2. Syngenta 17.3. Bayer Crop Science 17.4. Sakata 17.5. BASF Gmbh 17.6. Group Limagrain 17.7. KWS SAAT SE 17.8. Dow Chemical Company 17.9. Jivo Wellness Pvt. Ltd. 17.10. Ambar Protein Industries 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Food and Beverage Insights
View Reports
Genetically Modified Food Market
