Increasing demand for bioengineered crops is predicted to drive growth in the global bioengineered food industry. Bioengineered crops are agricultural plants in which the DNA (Deoxyribonucleic Acid) has been transformed using bioengineering techniques. Consumer preference for nutritionally dense functional foods is growing all around the world. These reasons are projected to drive the global bioengineered food industry forward. Growing demand for and understanding of organic food is projected to stymie worldwide expansion. Adverse health impacts of bioengineered food, such as cancer development, pose a significant impediment to the global bioengineered food market's expansion. Major companies and government organisations are using inorganic growth methods such as product development and raising awareness about bioengineered foods, which is projected to drive growth in the global bioengineered food market.
Acording to Coherent Market Insights, Global Bioengineered Food Market was valued at US$ 33.4 Billion in 2021 in terms of revenue, exhibiting a CAGR of 8.1% during the forecast period (2022 to 2030).
Key Competitors in the Bioengineered Food Industry:
1. Bayer AG
Bayer Aktiengesellschaft, together its subsidiaries, operates as a life science company worldwide. It operates through Pharmaceuticals, Consumer Health, and Crop Science segments Bayer Aktiengesellschaft was founded in 1863 and is headquartered in Leverkusen, Germany. On October 18, 2022 Bayer and Ginkgo Bioworks closed deal creating Agricultural Biologicals Powerhouse.
2. BASF SE
BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF SE was founded in 1865 and is headquartered in Ludwigshafen am Rhein, Germany. On January 3, 2023 BASF’s vegetable seeds business and ASL, one of the most innovative melon breeding companies in the world, completed the acquisition of ASL by BASF.
3. Syngenta
AGSyngenta is an agriculture company provides products and solutions to help farmers achieve global food security for a growing population.Basel, Basel-Stadt, Switzerland, Europe. Founded in 2000. Syngenta Crop Protection acquires two bioinsecticides from UK-based biocontrol technology developer, Bionemamai. On Jan 26 2022. Syngenta Group acquires leading Biologicals Company, Valagro on October 2020
4. The Dow Chemical Company
Dow Inc., through its subsidiaries, engages in the provision of various materials science solutions for packaging, infrastructure, mobility, and consumer applications in the United States, Canada, Europe, the Middle East, Africa, India, the Asia Pacific, and Latin America. It operates through Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments. Dow Inc. was incorporated in 2018 and is headquartered in Midland, Michigan. Dow has increased research and development spending 75 percent, expanded greenhouse space, also by 75 percent, and made 14 acquisitions since 2007.
5. DuPont de Nemours, Inc.
DuPont de Nemours, Inc. provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The company was founded in 1902, headquartered in Delaware U.S. On July 1, 2021, DuPont completed the previously announced acquisition (the "Laird PM Acquisition") of the Laird Performance Materials business.On November 2, 2021, DuPont announced it has entered definitive agreements to acquire Rogers Corporation for cash, (the "Intended Rogers Acquisition"). The transaction is subject to approval by Rogers' shareholders, regulatory approvals and customary closing conditions. On November 2, 2021, DuPont announced that it has initiated a divestiture process (the "In-Scope M&M Divestiture Process") related to a substantial portion of its Mobility & Materials segment, (the "In-Scope M&M Businesses").
6. Sakata
Sakata Seed Corporation produces and sells vegetable and flower seeds, bulbs, plants, and agricultural and horticultural materials in Japan and internationally. It also engages in the publication of gardening literature; plant breeding; research and development, and technical consultation of consigned seed production; and designing, management, and contract construction of landscaping, greenhouse, and horticultural facilities. Sakata Seed Corporation was founded in 1913 and is headquartered in Yokohama, Japan. Sakata Seed America announced the sale of its onion seed breeding program to Zaad Holdings Limited (‘Zaad’), a subsidiary of Zeder, effective July 27, 2018.
7. Groupe Limagrain
Limagrain group is an international agricultural cooperative, specialist in # field seeds, vegetable seeds and cereal products. Headquartered in Ffrance. Founded in 1942.
8. KWS SAAT SE & Co. KGaA
KWS SAAT SE & Co. KGaA develops, produces, and distributes seeds for farmers in Germany, rest of Europe, North and South America, and internationally. It operates through four segments: Corn, Sugarbeet, Cereals, and Vegetables. KGaA was founded in 1856 and is headquartered in Einbeck, Germany.
*Definition-Biotechnology is the use of live creatures to generate goods with increased qualities and involves the use of genetic alteration, commonly known as "gene technology" or "genetic engineering". The rise of the food sector is likely to fuel the global bioengineered food market.
