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The Genetically Modified Feed Market Size is valued at USD 95.29 Billion in 2023 and is predicted to reach USD 157.71 Billion by the year 2031 at a 6.69 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The global demand for animal protein, including meat, dairy, and eggs, has been increasing due to population growth and rising incomes, particularly in emerging economies.
- Advances in biotechnology have enabled the development of genetically modified crops with improved nutritional profiles, resistance to pests and diseases, and better yields.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Genetically modified feed is designed to improve livestock health, increase productivity, and reduce the environmental impact of animal agriculture.
Genetically modified feed is those generated from creatures, animals or plants whose genetic structure has been altered so that they no longer appear natural. Genetically modified feed is employed in beverage, food processing, and other industries. Consumer taste preferences, as well as the need for nutritionally dense foods, are positively affecting demand for genetically modified crops. Furthermore, the variety of applications in the food and beverage industry will likely drive the growth of the genetically modified food market. Government restrictions on consuming genetically modified feed or crops are a significant impediment to market growth.
The increased demand for nutrient-dense meals and product innovation propels the genetically modified food business forward. In the coming years, the market's revenue will most likely be driven by research and development of genetically modified feed that will aid in offering a healthy lifestyle. The modification is intended to improve nutritional value and food taste and to reduce allergic reactions to specific food products. These qualities have propelled the market forward over the years and are expected to continue beyond the projection period. Furthermore, severe government limits on pesticides or hazardous, poisonous substances in farm products are expected to propel the market.
Competitive Landscape
Some major key players in the Genetically Modified Feed Market:
- Bayer AG,
- Syngenta,
- DuPont,
- Dow,
- Monsanto,
- BASF,
- Corteva Agriscience,
- R. Simplot Company,
- Okanagan Specialty Fruits Inc
- Others
Market Segmentation:
The genetically modified feed market is segmented on the crop, route of administration and end-use. Based on crop, the market is segmented into crops {corn, soybean, canola, cottonseed, alfalfa}, fruits & vegetables {papaya, potatoes, eggplant}). Based on form genetically modified feed market is segmented into pellets, crumble, mash, and meal/cake. Based on the feed type, the genetically modified feed market is segmented into roughages and concentrates. Based on application, the market is segmented into poultry {layer, broiler, turkey}, swine {grower, starter, sow}, cattle {calf, dairy}, aquaculture {carp, trout, salmon, shrimp}, pet foods {dogs, cats, birds, fish}, equine).
Based On The Source, The Crop Segment Is A Significant Contributor To The Genetically Modified Feed Market.
The market's leading segment is the crop. Farmers' production and adoption of genetically modified crops are essential contributors to global market expansion. Furthermore, reduced pesticide and crop protection agent prices to preserve these crops during farming encourage farmers to adopt GMO crops, encouraging GMO feed outreach.
The Poultry Segment Witnessed Growth At A Rapid Rate.
The poultry segment grabbed the highest revenue share and is estimated to hold that position during the anticipated time. Rising demand for bird-based products in many parts of the world will promote the development of the poultry sector and, as a result, raise demand for poultry feed, facilitating the growth of the poultry application. Rising consumer health consciousness, combined with an increasing preference for protein-rich food products, is primarily driving the poultry industry in India. Furthermore, increased exposure to foreign cuisines, changing consumer dietary habits, and growing acceptance of non-vegetarian or eggetarian diets drive demand for broiler meat and eggs.
The North American Genetically Modified Feed Market Holds A Significant Regional Revenue Share.
The North American genetically modified feed market is expected to register the highest market share in revenue soon. Agriculture is a significant sector in the United States, and maize and soybean crop production is increasing in North America. Furthermore, North America is the world's top exporter of genetically engineered crops. As a result, the market in this region's revenue is expanding. The rising disposable income and a growing population of people interested in the genetically modified feed are driving the growth of the sector in the region. In addition, Asia Pacific is projected to grow rapidly in the global genetically modified feed market. Favorable foreign direct investments, beneficial trade policies in the domestic feed manufacturing industries, and advancements in the agriculture sector are poised to accelerate the region's genetically modified feed market expansion.
Recent Developments:
- In February 2022, Bayer AG, a German pharmaceutical and biotechnology company, announced its plans to launch its new genetically modified cotton seeds in India. It aimed to bring the high-yielding and herbicide-tolerant solution to the nation.
- In May 2022, Syngenta Switzerland launched VICTRATO, a novel seed treatment that targets damaging nematodes and diseases in crops. This, in turn, will help increase crop quality and yield.
Genetically Modified Feed Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 95.29 Billion |
|
Revenue Forecast In 2031 |
USD 157.71 Billion |
|
Growth Rate CAGR |
CAGR of 6.69 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Source, Application, Form, Feed Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Bayer AG, Syngenta, DuPont, Dow, Monsanto, BASF, Corteva Agriscience, J.R. Simplot Company, Okanagan Specialty Fruits Inc, others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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