Genetically Modified Food Market Share

North America Market Statistics

On the basis of geographical analysis, the genetically modified (GMO) food market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America industry is poised to hold largest revenue share by 2036, on the back of increasing cultivation of soybean and corn, rise in adoption of biotech crops, and growing demand for modified food products produced in the region. The United States was the largest producer of maize in 2020, amounting to more than 360 million thousand tons.

Europe Market Analysis

Furthermore, Europe is evaluated to be the second largest shareholder in the genetically modified (GMO) food market during the forecast period accounting to the intensifying number of imports of genetically modified food products in this region, especially cotton, maize and sugar beet.

APAC Market Analysis

However, Asia Pacific’s market is expected to witness the highest growth in the future, which can be credited to the intensifying implementation of new technologies for cultivation and the surge in population growth in the region.

Frequently Asked Questions (FAQ)

Growing demand for nutritional foods and increasing R&D activities in biotechnology are the major growth drivers for market.

The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 â€“ 2029.

Stringent government regulations regarding approval of genetically modified food and toxic residuals of genetically modified crops are estimated to hamper the market growth.

Asia Pacific region is estimated to provide more growth opportunities to the market owing to the implementation of new technologies for crop production.

The major players in the market are BASF SE, Bayer AG, Syngenta Crop Protection AG, Sakata Seed America, and others.

Genetically Modified Food Market Share