Bioengineered Food Market
The bioengineered food market is estimated to be valued at USD 34.50 Bn in 2024, exhibiting a CAGR of 5.1% over the forecast period (2024-2031). Bioengineered foods are foods that have been genetically modified or engineered with techniques of biotechnology. With increasing population and changing climate conditions, bioengineered foods provide opportunities to enhance nutritional values, increase yields and make crops more resistant to threats like pests, diseases, or environmental stresses. Supporters argue that genetically engineered crops have potential to help meet the food demands of growing global population, reduce use of pesticides and fertilizers and improve farmer income. However, critics have concerns about their long-term impact on environment and possible risks to human health.
Market Dynamics:
The global bioengineered food market growth is driven by factors like growing world population, reducing availability of agricultural land, need to develop crops that can withstand climate change impacts, and yield more with lesser inputs. However, market growth can be restrained by risks of gene contamination, lack of laws, and proper labeling in many nations. Lack of acceptance by some consumers due to perceived health and environmental safety concerns also poses a challenge. While bioengineered foods promise benefits, they also face opposition from critics concerned about possible health and environmental risks from their long-term consumption. As research on their safety and impacts advances, the market potential of these novel foods will depend greatly on regulations and consumer acceptance in different regions. On the positive side, advancements in gene editing technologies like Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) have opened opportunities to efficiently modify plant genomes. This coupled with increasing regulations to ensure safety can help alleviate concerns and boost market opportunities going ahead.
Key Features of the Study:
- This report provides in-depth analysis of the global bioengineered food market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global bioengineered food market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Bayer AG, BASF SE, Syngenta AG, The Dow Chemical Company, DuPont de Nemours, Inc., Sakata, Groupe Limagrain, and KWS SAAT SE & Co. KGaA.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global bioengineered food market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global bioengineered food market
Market Segmentation
Market Segmentation
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