Increasing Acceptance Of Bio-engineered Crops Is Driving The Global Genetically Modified Food Market At 5.85% Of Cagr By 2027.

Triton Market Research presents their Global Genetically Modified Food market report, segmented on the basis of Food type (crops, vegetables, fruits and animal products) and by Geography (North America, Europe, Asia Pacific, Latin America, and Africa).

The report discusses industry value chain analysis, Porter's 5 Force Analysis, drivers, restraints, vendor profiles, global market size, forecasts & analysis (2019-2027).

Triton Market Research expects the Global Genetically Modified Food market to witness a compound annual growth rate (CAGR) of around 5.85% over the forecast period of 2019-2027. 

Genetically modified crops contribute the highest revenue to the global genetically modified food market. Some examples of genetically modified crops have been successfully introduced into the market, which include GM-corn, soybean, canola, sugar beet, and cotton. The increasing production of bio-engineered crops is being boosted by the growing use of biotechnology in crop production.

The use of genetically modified food is gaining approval from governments all across the world. Of all the geographies analyzed by Triton Market Research, it is estimated that the Asia-Pacific genetically modified food market is likely to grow at a significant CAGR between 2019-2027. High market demand is currently being witnessed from China. Provincial government approval for the commercial production of GM crops can be credited to the market expansion in the region.

However, globally, the acceptance of genetically modified food varies from region to region. Every county has its own set of rules and regulations for cultivating these crops. For instance, in the US, the approval and release of GMO are made through the Plant Protection Act issued by the Animal and Plant Health Inspection Service (APHIS) agency and Environmental Protection Agency. Similarly, the European regulatory system has regulated that the GMOs cultivated in the region have to obtain approval before they are commercialized. Before market introduction, they must be marked safe for human and animal consumption and should not pose any threat to the environment.

Adhering to several such regulations, many companies have managed to establish themselves in the global genetically modified food market. These companies are increasingly carrying out research and development as their primary strategy to introduce a new product launch in the market. For instance, BASF had decided to refocus its plant biotechnology research portfolio and also will restructure its Plant Science operations.

Similarly, Limagrain Cereal Seeds (LCS) has decided to develop two of the five most popular winter wheat varieties in Europe—T158 and LCS Mintin 2017.   Other key market players profiled by Triton Market Research include Dlf-Trifoliuz, Bayer Ag, Dow-Dupont, Kwssaat Se, Monsanto Company, Winfield Solutions Llc, Okanagan Specialty Fruits Inc. (Osf), Metahelix Life Sciences Limited, Aquabounty Technologies Inc., J.R. Simplot and Syngenta.