Genetically Modified Food Market size is set to grow by USD 40.6 billion from 2022 to 2027. High demand for crop production drives the market- Technavio

NEW YORK, June 28, 2023 /PRNewswire/ -- The genetically modified food market size is estimated to grow by USD 40.6 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.58%. The growth momentum will progress during the forecast period. North America is estimated to account for 32% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, Some of the key reasons which drive the growth of the genetically modified food market are technological advancements and rapid urbanization. For instance, The market is dominated by the US, with an 83.66% share, followed by Canada and Mexico. In 2021 and 2022, herbicide-tolerant soybean acreage increased slightly to 95%. Herbicide-tolerant cotton acreage expanded from approximately 10% in 1997 to 56% in 2001 before reaching a high of 94% in 2021. Due to mergers and acquisitions as well as rapid research and development activities, there has been a significant transition in the genetically modified food market in North America and the advancement and adoption of biotechnology at a greater level. Therefore such factors are anticipated to fuel the global genetically modified food market during the forecast period. For more insights on the historic period (2017 to 2021), and forecast market size (2023 to 2027) - Request a sample report

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Genetically Modified Food Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (vegetables, crops, fruits, and animal products), product type (herbicide tolerance (HT), insect resistance (IR), stacked traits (ST)), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

• The market share growth by the vegetables segment will be significant during the forecast period. One of the dominating segments in the market with a major market share is genetically modified vegetables. Elements such as the growing food industry across the globe, coupled with rising consumer expenditure on fresh food products such as vegetables are majorly contributing to the growth of the genetically modified vegetable segment. As there is an upsurge in the vegan population, simultaneously there is a considerable rise in the demand for vegetables. The significant factor propelling the growth of the vegetable segment is the rising awareness of the advantages of eating healthy foods in developed and developing markets. Genetically modified vegetables are available through both offline and online retail platforms. There is a rising preference for online channels as online channels give consumers to shop from home at their own convenience and provide a broad variety of genetically modified vegetables, including exotic vegetables such as tomatoes, potatoes, and baby corn, which are not readily available at offline stores. Therefore, these factors are expected to growth of the vegetable segment, which in turn will fuel the global genetically modified food market during the forecast period.

Insights on the market contribution of various segments, including country and region-wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Genetically Modified Food Market – Market Dynamics
Key factor driving market growth

High demand for crop production is the major factor notably driving genetically modified food market growth. One of the major reasons for the significant growth of the genetically modified food market is due to aspects such as these crops producing higher yields, resisting pests and diseases, and tolerating environmental stresses, which can help farmers to grow more food with fewer resources. For instance, according to the Food and Agriculture Organization (FAO) of the United Nations, global food production needs to increase by 70% by 2050 to meet the needs of the growing population. Thus, with minimal water and other resources, farmers will need to produce more food on the same amount of land. Therefore, there will be a growing adoption of genetically modified crops to improve the output by farmers, which in turn will fuel the GMO Food Market growth during the forecast period.

Leading trends influencing the market 

Premium pricing of non-genetically modified food products is expected to have a positive impact on the genetically modified food market growth in the future years. However, the majority of people are more health-conscious, and there is a rising concern about the health factors of food products. The purchasing decision of non-genetically modified food products is usually based on their costs. For instance, over half of the consumers in the US have concerns about genetically modified food products, but they are not aware of the health effects. It is expected that there will be a shift in consumer choice for genetically modified food products with the continuous increase in the pricing of non-genetically modified food products. The major causes for this are that the pricing is fair, and the health effects of genetically modified food are not clear to most consumers. Therefore, the adoption of premium pricing of non-genetically modified food products will fuel the growth of the global Genetically Modified (GMO) Food Market during the forecast period.

Major challenges hindering the market growth

An increase in demand for organic food products will be a major challenge that may impede the global genetically modified food market during the forecast period. A rise in the number of health-conscious individuals, growing environmental concerns, and government support toward awareness and the use of organic products are fueling the rising demand for organic food products. Further, some of the advantages of organic food products are they are free from synthetic pesticides and genetic modification and petroleum-based fertilizers. Similarly, aspects such as rising concerns for enhancing health and growing consumer awareness about organic food advantages are propelling the demand for organic food products among consumers when compared to genetically modified food products. The significant factor which fills the demand of health-conscious customers is the growth in the distribution of genetically modified food to the retail sector. For instance, popular supermarket chains such as Wal-Mart and Costco in the US are expanding their offerings of organic food. Therefore such factors are anticipated to impede the market during the forecast period.

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What are the key data covered in this Genetically Modified Food Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the global genetically modified food market between 2023 and 2027
• Precise estimation of the size of the global genetically modified food market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the genetically modified food market industry across North America, APAC, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of global genetically modified food market vendors

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Related Reports:

The genetically modified (GM) seeds market is estimated to grow at a CAGR of 10.69% between 2022 and 2027. The size of the market is forecast to increase by USD 18.38 billion. This report extensively covers market segmentation by product (corn, soybean, cotton, canola, and others), type (herbicide tolerance and insect tolerance), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The rise in the adoption of biofuels is notably driving the market growth. 

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global genetically modified food market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global genetically modified food market 2017 - 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.3 Product Type Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Vegetables - Market size and forecast 2022-2027
• Exhibit 34: Chart on Vegetables - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Vegetables - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Vegetables - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Vegetables - Year-over-year growth 2022-2027 (%)

• 6.4 Crops - Market size and forecast 2022-2027
• Exhibit 38: Chart on Crops - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Crops - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Crops - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Crops - Year-over-year growth 2022-2027 (%)

• 6.5 Fruits - Market size and forecast 2022-2027
• Exhibit 42: Chart on Fruits - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Fruits - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Fruits - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Fruits - Year-over-year growth 2022-2027 (%)

• 6.6 Animal products - Market size and forecast 2022-2027
• Exhibit 46: Chart on Animal products - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Animal products - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Animal products - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Animal products - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Type 
• Exhibit 50: Market opportunity by Type ($ billion)
• Exhibit 51: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Product Type

• 7.1 Market segments 
• Exhibit 52: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Product Type - Market share 2022-2027 (%)

• 7.2 Comparison by Product Type 
• Exhibit 54: Chart on Comparison by Product Type
• Exhibit 55: Data Table on Comparison by Product Type

• 7.3 Herbicide tolerance (HT) - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Herbicide tolerance (HT) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Herbicide tolerance (HT) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Herbicide tolerance (HT) - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Herbicide tolerance (HT) - Year-over-year growth 2022-2027 (%)

• 7.4 Insect resistance (IR) - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Insect resistance (IR) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Insect resistance (IR) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Insect resistance (IR) - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Insect resistance (IR) - Year-over-year growth 2022-2027 (%)

• 7.5 Stacked traits (ST) - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Stacked traits (ST) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Stacked traits (ST) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Stacked traits (ST) - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Stacked traits (ST) - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product Type 
• Exhibit 68: Market opportunity by Product Type ($ billion)
• Exhibit 69: Data Table on Market opportunity by Product Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 111: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ billion)
• Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 BASF SE 
• Exhibit 123: BASF SE - Overview
• Exhibit 124: BASF SE - Business segments
• Exhibit 125: BASF SE - Key news
• Exhibit 126: BASF SE - Key offerings
• Exhibit 127: BASF SE - Segment focus

• 12.4 Bayer AG 
• Exhibit 128: Bayer AG - Overview
• Exhibit 129: Bayer AG - Business segments
• Exhibit 130: Bayer AG - Key news
• Exhibit 131: Bayer AG - Key offerings
• Exhibit 132: Bayer AG - Segment focus

• 12.5 Cibus 
• Exhibit 133: Cibus - Overview
• Exhibit 134: Cibus - Product / Service
• Exhibit 135: Cibus - Key offerings

• 12.6 Corteva Inc. 
• Exhibit 136: Corteva Inc. - Overview
• Exhibit 137: Corteva Inc. - Business segments
• Exhibit 138: Corteva Inc. - Key news
• Exhibit 139: Corteva Inc. - Key offerings
• Exhibit 140: Corteva Inc. - Segment focus

• 12.7 FMC Corp. 
• Exhibit 141: FMC Corp. - Overview
• Exhibit 142: FMC Corp. - Product / Service
• Exhibit 143: FMC Corp. - Key offerings

• 12.8 Groupe Limagrain Holding 
• Exhibit 144: Groupe Limagrain Holding - Overview
• Exhibit 145: Groupe Limagrain Holding - Business segments
• Exhibit 146: Groupe Limagrain Holding - Key offerings
• Exhibit 147: Groupe Limagrain Holding - Segment focus

• 12.9 JK Agri Genetics Ltd. 
• Exhibit 148: JK Agri Genetics Ltd. - Overview
• Exhibit 149: JK Agri Genetics Ltd. - Product / Service
• Exhibit 150: JK Agri Genetics Ltd. - Key offerings

• 12.10 KWS SAAT SE and Co. KGaA 
• Exhibit 151: KWS SAAT SE and Co. KGaA - Overview
• Exhibit 152: KWS SAAT SE and Co. KGaA - Business segments
• Exhibit 153: KWS SAAT SE and Co. KGaA - Key offerings
• Exhibit 154: KWS SAAT SE and Co. KGaA - Segment focus

• 12.11 Rasi Seeds P Ltd. 
• Exhibit 155: Rasi Seeds P Ltd. - Overview
• Exhibit 156: Rasi Seeds P Ltd. - Product / Service
• Exhibit 157: Rasi Seeds P Ltd. - Key offerings

• 12.12 Sakata Seed Corp. 
• Exhibit 158: Sakata Seed Corp. - Overview
• Exhibit 159: Sakata Seed Corp. - Business segments
• Exhibit 160: Sakata Seed Corp. - Key offerings
• Exhibit 161: Sakata Seed Corp. - Segment focus

• 12.13 Stine Seed Co. 
• Exhibit 162: Stine Seed Co. - Overview
• Exhibit 163: Stine Seed Co. - Product / Service
• Exhibit 164: Stine Seed Co. - Key offerings

• 12.14 Syngenta Crop Protection AG 
• Exhibit 165: Syngenta Crop Protection AG - Overview
• Exhibit 166: Syngenta Crop Protection AG - Product / Service
• Exhibit 167: Syngenta Crop Protection AG - Key offerings

• 12.15 Tata Sons Pvt. Ltd. 
• Exhibit 168: Tata Sons Pvt. Ltd. - Overview
• Exhibit 169: Tata Sons Pvt. Ltd. - Business segments
• Exhibit 170: Tata Sons Pvt. Ltd. - Key offerings
• Exhibit 171: Tata Sons Pvt. Ltd. - Segment focus

• 12.16 Terranova Seeds Australia 
• Exhibit 172: Terranova Seeds Australia - Overview
• Exhibit 173: Terranova Seeds Australia - Product / Service
• Exhibit 174: Terranova Seeds Australia - Key offerings

• 12.17 UPL Ltd. 
• Exhibit 175: UPL Ltd. - Overview
• Exhibit 176: UPL Ltd. - Business segments
• Exhibit 177: UPL Ltd. - Key news
• Exhibit 178: UPL Ltd. - Key offerings
• Exhibit 179: UPL Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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