Genetically Modified Feed Market to reach over USD 152.94 billion by the year 2030 - InsightAce Analytic

Global genetically modified feed market is estimated to reach over USD 152.94 billion by 2030, exhibiting a CAGR of 6.08% during the forecast period.

NEW JERSEY, NJ, USA, November 28, 2022 /EINPresswire.com/ -- Insight Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Genetically Modified Feed Market (By Type (Crop {Corn, Soybean, Canola, Cottonseed, Alfalfa}, Fruits & Vegetables {Papaya, Potatoes, Eggplant}), By Form (Pellets, Crumble, Mash, Meal/cake), By Feed Type(Roughages and Concentrates), By End use (Poultry {Layer, Broiler, Turkey}, Swine {Grower, Starter, Sow}, Cattle {Calf, Dairy}, Aquaculture {Carp, Trout, Salmon, Shrimp}, Pet Foods {Dogs, Cats, Birds, Fish}, Equine))- Market Outlook and Industry Analysis 2030"

The global genetically modified feed market is estimated to reach over USD 152.94 billion by 2030, exhibiting a CAGR of 6.08% during the forecast period.

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Genetically modified feeds are high in nutrients and quality and are commonly fed to cattle and animals to improve their health and nutrition. Customer desire for meat products has recently increased, boosting market expansion. GMO feed is closely monitored by governments worldwide to ensure the quality of the cultivation and integration process. Government safety standards requiring the usage of non-GMO crops may prove to be a big impediment. Nonetheless, further technological developments and customer demand for meat products may motivate farms to use GMO feeds to improve the food supply. Globally increasing food demand will drive the genetically modified feed sector trends. International help to impoverished nations and advances in food solutions will increase demand for genetically modified feeds. They have improved qualities such as high nutritional content, longer shelf life, sweet flavour, and better texture when prepared as food. These qualities are essential drivers supporting the global genetically modified food industry's growth, which is projected to continue soon. The cost-effectiveness of genetically modified feeds is estimated to facilitate market growth over the forecast period. However, the odd flavour associated with genetically modified food compared to non-genetically modified food is a significant factor that may limit market expansion in the long run.

Key Prominent Players in the Genetically Modified Feed Market:
Bayer AG
Syngenta
DuPont
Dow
Monsanto
BASF
Corteva Agriscience
J.R. Simplot Company
Okanagan Specialty Fruits Inc

Market Dynamics:
Drivers-
The growing demand for nutrient-dense foods, combined with product innovation, is fuelling the expansion of the genetically modified food sector. The market's revenue is likely to be driven in the upcoming years by research and development of genetically modified feed that would aid in providing a healthier lifestyle. The change is made to improve nutritional value and food taste and prevent allergic reactions to certain food products. These characteristics have been driving the market ahead throughout the years, and this is projected to continue beyond the projection period. Furthermore, severe government limits on pesticides or hazardous, poisonous substances in farm products are expected to propel the market.

Challenges:
Stringent government rules aimed at increasing the use of non-GMO crops in food processing are a major impediment to market growth. Because government officials actively monitor the manufacturing process and restrict the supply and penetration of these products, the industry frequently faces opposition to expanding outside local markets. The odd taste associated with genetically modified food, compared to non-genetically modified food, is a significant factor that may limit market growth during the projection period. The COVID-19 epidemic posed a threat to the industry's prospects. Because governments were primarily concerned with COVID-19 vaccination licensing, GMO feed advances were halted or delayed, upsetting the supply chain.

Regional Trends:
The North American genetically modified feed market is estimated to hold a major share of the market over the upcoming years. The region is home to many genetically modified agricultural growing sites. It feeds production enterprises, which help to expedite the spread of safe food and are heavily focused on animal husbandry. These elements will allow the region to maintain its dominance in the global market. Besides, Asia Pacific had a substantial share in the genetically modified feed market. Consumer preference for animal-based protein sources encourages animal-rearing practices, resulting in feed demand. Furthermore, modern feed makers in the region will hasten market advancement.

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Recent Developments:
• In February 2022-Bayer AG, a German pharmaceutical and biotechnology corporation, revealed plans to market its new genetically modified cotton seeds in India. It aimed to provide the nation with a high-yielding, herbicide-tolerant answer.
• In May 2022-Syngenta Switzerland introduced VICTRATO, a revolutionary seed treatment that targets damaging nematodes and diseases in crops.

Segmentation of Genetically Modified Feed Market-
By Deployment
By Source
• Crops
o Corn
o Soybean
o Cottonseed
o Canola
o Alfalfa
o Others
• Fruits & Vegetables
o Papaya
o Potato
o Eggplant
o Others
By Form
• Pellets
• Crumbles
• Mash
• Meal/Cake
By Feed Type
• Roughages
• Concentrates
By Application
• Poultry
o Layer
o Broiler
o Turkey
o Others
• Swine
o Grower
o Starter
o Sow
• Cattle
• Dairy
o Calf
o Others
• Aquaculture
o Carp
o Trout
o Salmon
o Shrimp
o Others
• Pet food
o Dogs
o Cats
o Birds
o Fish
• Equine
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
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