The Global Genetically Modified Foods market or bioengineered foods market is estimated to grow at 5.10% CAGR during 2018-2026. The base year considered for the study is 2017 and the forecast period is between 2018 and 2026. Several factors that are responsible for the growth of this market include;

• Growing number of undernourished populace augmenting the demand for nutritional and healthy food
• Rise in genetically modified crops area & plantation
• Genetically modified foods production reduces the need for pesticides
• Rising demand for crop yield
• Increasing investment in the field of biotechnology research and development
• Rising approvals of genetically modified foods across geographies

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The number of undernourished people in the world were estimated to be at xx million in 2016. Thus, rising population of undernourished people is also expected to raise the demand for healthy and nutritional food. This is a major driver for the genetically modified food market. Moreover, with the reduction in pesticides usage, the original nutritional state of food is maintained and this pushes the adoption of genetically modified food.

Crops are expected to lead the food type segment of the global genetically modified foods market by capturing the largest market share of over xx% in 2017. Moreover, Crops market is anticipated to rise at a CAGR of xx% during the forecast period. The growing use of biotechnology in crop production is boosting the market for genetically modified crops. A significant rise in the global production of genetically modified crops such as soya, cotton, maize etc. has aided the global genetically modified foods market. According to International Service for The Agri-Biotech Application (ISAAA), the value of maize global biotech hectare (land used for GM food production) was xx million hectares in 2015, which increased to xx million hectares in 2016 globally. Hence, the increasing production of genetically engineered crops across the globe is driving the growth in the global genetically modified crops market for the forecast period.

The global genetically modified food market growth is restricted by factors such as toxic residues from genetically modified crops that negatively impacts the soil fertility, & stringent government regulations. Also, low consumer awareness is another major challenge in this market.

The Global Genetically Modified Foods market has been segmented on the basis of genetically modified food type & by crop type:

Food Type is sub-segmented into:

• Crops
• Vegetable
• Fruits
• Animal products

Crop Type sub-segmented into:

• Corn
• Cotton
• Soya Bean
• Canola
• Sugar beet
• Other Crops

The report scope is widely characterized on the basis of genetically modified food that includes crops, fruits, vegetables, and animals. Furthermore, genetically modified seeds and crop protection systems as a company products, have also been considered for revenue calculation. However, the report scope excludes products obtained from alternative technologies such as selective breeding and mutation breeding.

Geographically, the global genetically modified foods market has been segmented on the basis of five major regions, which includes:

• North America (United States, and Canada),
• Europe
• Latin America (Brazil, Argentina, Paraguay, Uruguay, Bolivia and Rest of Latin America),
• Asia-Pacific (China, India, Philippines, Pakistan, Australia and Rest of Asia Pacific),
• Africa (South Africa & Rest of Africa)

North America leads the global genetically modified foods market by capturing the largest market share of over xx% in 2017. The dominant position of North America in the global genetically modified foods market is attributed to the fact that the United States & Canada are the leading producers of Genetically Modified crops across the globe. The United States is at the forefront in terms of commercialization and development of genetically modified food. Major biotech crops such as Soybean, cotton and maize have achieved an adoption of about xx% in terms of production. Increasing approval of new bioengineered food such as Biotech Salmon by the FDA in 2015, Non-browning Arctic® Apples by The Canadian Food Inspection Agency (CFIA) in 2016 and others have provided major stimuli to the growth of the genetically modified foods in North America. On the other hand, the Asia Pacific genetically engineered food market is expected to rise with the highest CAGR of over xx% over the forecast period. Asia Pacific bioengineered food market is primarily driven by the rising population in the region. Also, the adoption of new technologies in the agriculture sector to meet the requirements of the growing population, coupled with increasing adoption of GM crops are driving the growth in this region.

The global genetically modified foods market has been segmented on the basis of food type, which includes animal product, crops, fruits, and vegetables. Further, the genetically modified crops sub-segment is divided into field crops. This report focuses on five GM field crops namely, corn, soybean, canola, cottonseed and sugar beet.

The major players in the Genetically Modified Foods market are;

• BASF SE
• Bayer AG
• Syngenta AG
• Monsanto
• KWS SAAT SE
• And others.

Market share of the companies in the genetically modified food market was calculated by considering the market revenue of key players, product portfolio extensiveness, research and development spending, geographical presence, venture capitalist investments in the companies and strategies adopted in the past 3 years (2015-2017). For Instance, in June 2017, Dow Chemical Company has launched its new GMO corn ‘Enlist corn’. It is widely used as herbicide glyphosate, which is the main ingredient in Monsanto’s popular Roundup herbicide. Also, in October 2017, BASF decided to acquire the part of Bayer AG’s agricultural products business with $xx billion. This deal promises to be the start of a long and expensive journey into genetically-modified seeds.

Key findings of the Genetically Modified Foods market:

• North America accounts for the largest market share of the overall Genetically Modified Food Market
• The genetically modified food approvals has played a crucial role in the advancement of global genetically modified foods market
• Genetically modified food is quickly gaining acceptance due to advantages such as high crop yield, more nutritional values, insect resistance, resistance to fungal and bacterial diseases and increased shelf life
• Asia-Pacific is the fastest growing regional market. China & India are the key contributors to the growth of the Asia Pacific market.
• New advancements in genetic engineering of foods can significantly lead to the development of new and improved varieties with better yield, along with more tolerance to abiotic and biotic stresses and increased nutritional profile.