Key Market Driver in Bioengineered Food Industry 2024: Growing Demand for Sustainable Agricultural Practices On Market
Bioengineered Food Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Bioengineered Food Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The bioengineered food market1 has grown from $31.25 billion in 2023 to $34.53 billion in 2024, with a CAGR of 10.5%. This growth is due to the rising consumer interest in nutritional-rich functional foods, the increasing global population, greater awareness of food security, adaptation to climate change, and a higher demand for food production.
How Much Will the Global Bioengineered Food Market Grow, and What Is the Predicted Annual Growth Rate?
The bioengineered food market is projected to grow rapidly, reaching $52.01 billion by 2028, at a CAGR of 10.8%. Growth is driven by increasing demand for sustainable agricultural practices, investments in research, rising food demand, and growing bioengineered crop adoption. Trends include advances in genetic engineering, biotechnology, crop development, and AI-powered optimization.
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What Are The Top Drivers Contributing To The Growth Of The Bioengineered Food Market?
Growing demand for sustainable agricultural practices, amid concerns about environmental impact and food security, is expected to drive growth in the bioengineered food market. These practices align with bioengineered food by promoting efficient, environmentally-conscious production methods.
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Which Companies Are Leading Growth in the Bioengineered Food Market?
Major companies operating in the market are PepsiCo Inc., BASF SE, Unilever PLC, Bayer AG, Syngenta AG, General Mills Inc., Corteva Agriscience, DuPont de Nemours Inc., J.R. Simplot Corp., K&L Gates LLP, Sakata Seed Corporation, International Rice Research Institute, Rothamsted Research, Brattleboro Food Co-op., Okanagan Specialty Fruits Inc., GreenVenus LLC, AquaBounty Technologies Inc., Calyxt Inc., Nuseed Global, Norfolk Healthy Produce
What Are the Key Trends Defining the Bioengineered Food Market Size2?
Major companies in the market are focusing on the development of advanced products such as transgenic insect-resistant crops to boost crop yields while supporting sustainable agricultural practices. These genetically modified crops incorporate genes that provide resistance to insect pests, aiming to reduce reliance on chemical insecticides, enhance crop protection, and increase plant resilience to pests.
What Are The Key Segments Of The Global Bioengineered Food Market?
1) By Product Type: Vegetables, Fruits, Crops, Other Product Types
2) By Type Of Modification: Cellular Agriculture, Genetic Modification
3) By Technology: Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), Tissue Culture
4) By Trait: Disease Resistance, Herbicide Tolerance, Insect Resistance, Nutritional Enhancement
5) By Application: Food And Beverage, Animal Feed, Pharmaceuticals, Other Applications
Geographical Highlights: North America Leading Bioengineered Food Market
North America was the largest region in the bioengineered food market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Bioengineered Food Market Overview3?
Bioengineered food refers to food products genetically modified through biotechnology to introduce specific traits not found in nature. This process involves altering the DNA of plants, animals, or microorganisms to enhance qualities like pest resistance, improved nutritional value, or environmental resilience.
The Bioengineered Food Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Bioengineered Food Market Report: Trends, Opportunities, Strategies, and More
The Bioengineered Food Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into bioengineered food market size, bioengineered food market drivers and trends, bioengineered food global market major players, bioengineered food competitors' revenues, bioengineered food global market positioning, and bioengineered food market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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1 https://www.thebusinessresearchcompany.com/report/bioengineered-food-global-market-report
2 https://www.thebusinessresearchcompany.com/report/bioengineered-food-global-market-report
3 https://www.thebusinessresearchcompany.com/report/bioengineered-food-global-market-report
