Bioengineered Food Market, By Product Type (Crops, Vegetables, Fruits, and Others), By End User (Households, Food Service Industry, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).

Published In : Oct 2024

Code : CMI3714

Pages :140

Formats :

Excel and PDF

Industry : Food and Beverages

Key Takeaways from Analyst

Several factors are driving the demand for bioengineered foods like increasing population, changing dietary preferences, and need for higher crop yields. Consumer awareness about benefits of genetically modified or engineered foods is also increasing steadily over time. North America currently dominates this market due to presence of major players and more acceptance of biotech crops compared to other regions. However, Asia Pacific is expected to witness fastest growth in the forecast period thanks to rising income levels and growing health consciousness.

Regulatory hurdles around food safety and labeling requirements still pose challenges for wide adoption of bioengineered foods worldwide. Lack of understanding and misinformation among consumers about gene-editing technologies also restrains the market growth. On the positive side, innovations in gene-editing techniques like CRISPR are opening newer avenues by making genetic modifications more accurate and efficient.

Rising investments by companies as well as funding from government organizations to develop drought-resistant and nutrient-fortified crops provide ample opportunities.