What Has Been the Progress and Growth of the Bioengineered Food Market in Recent Years?
The bioengineered food market has seen considerable growth due to a variety of factors.
• The market size of bioengineered food has experienced swift growth in the previous years. The market is projected to surge from $34.53 billion in 2024 to $38.32 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%.
The remarkable growth in the past period can be directly linked to consumers' preference for nutrition-dense functional food, a surge in the global population, growing consciousness about food security, adjustment to climate change, and a soaring demand for increased food production.
How Does the Forecast Look for the Bioengineered Food Market?
The bioengineered food market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the bioengineered food market is projected to experience swift expansion. The market value is anticipated to reach $57.51 billion by 2029, with a compound annual growth rate (CAGR) of 10.7%.
This growth during the forecasted period can be associated with increased demand for ecologically sustainable agricultural methods, a surge in research and development investments, growing food needs, an upsurge in the demand for bioengineered crops, and an increase in yield production. Expectations for the forecast period include advancements in genetic engineering and biotechnology, continued research and development activities, innovative crop growth processes, the creation of bioengineered foods, and the application of artificial intelligence (AI) in the design and optimization processes.
What Are The Leading Drivers Of Growth In The Bioengineered Food Market?
The escalating need for sustainable farming methods is anticipated to spur the expansion of the bioengineered food market in the future. These sustainable farming techniques meet current food and fiber needs whilst securing them for future generations. Rising anxiety about environmental damage, a desire to conserve biodiversity, and a push for food security amid climatic changes, are all factors contributing to this demand for sustainable agriculture. Such practices foster and augment bioengineered food usage by advocating for environmentally benign, efficient, and conscious food production procedures. For example, as reported by the Department for Environment, Food, and Rural Affairs, a government department in the UK, the UK witnessed a total of 509 thousand hectares of land being farmed organically in 2022. This marked an increase of 0.4% from 2021. Consequently, the escalating demand for sustainable agricultural practices is propelling the expansion of the bioengineered food market.
How Are The Segments Defined Within The Global Bioengineered Food Market?
The bioengineered foodmarket covered in this report is segmented –
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
Subsegments:
1) By Vegetables: Genetically Modified (GM) Tomatoes, GM Corn, GM Potatoes, GM Peppers
2) By Fruits: GM Apples, GM Bananas, GM Strawberries
3) By Crops: GM Soybeans, GM Cotton, GM Rice, GM Canola
3) By Other Product Types: Bioengineered Meat, Bioengineered Dairy Products, Bioengineered Grains
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What Trends Are Shaping The Bioengineered Food Market?
In the bioengineered food industry, leading companies are placing an emphasis on creating superior products such as genetically modified food that is resistant to insects. This is aiming to not only enhance crop yields, but also advocate for sustainable farming methods. Transgenic insect-resistant food involves genetically altering crops to include genes that make the plants resistant to harmful insects, which should reduce reliance on chemical insecticides, safeguard crops, and boost yields through enhanced pest resistance. In January 2024, the Nigerian Federal Government approved the commercial introduction of TELA maize variants, including SAMMAZ 72T to SAMMAZ 75T, which are designed to withstand key pests like stemborer and fall armyworm. These varieties, capable of withstanding erratic rainfall, can produce up to 10 tons per hectare in the right conditions. This is significantly higher than the nation's average of 6 tons for comparable hybrids. The variants are fit for a variety of environments, including rain forests, guinea, and Sudan savannas. They are crafted to reduce losses in maize production caused by pests. Consequently, this advancement could prevent the waste of millions of metric tons of maize, bolstering food security throughout Africa.
Who Are the Key Players In The Bioengineered Food Market?
Major companies operating in the bioengineered food marker 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 Is The Most Dominant Region In The Bioengineered Food Market?
North America was the largest region in the bioengineered food market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioengineered food marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
