The genetically modified animal products market size is expected to see rapid growth in the next few years. It will grow to “$0.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to climate change mitigation, focus on sustainable agriculture, improved disease resistance, regulatory support, biopharmaceutical production. Major trends in the forecast period include research in functional foods, genetically modified aquatic species, nutritional enrichment, ethical considerations and animal welfare, global research collaborations..
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Segmentation & Regional Insights
The genetically modified animal products market covered in this report is segmented –
1) By Form: Pellets, Crumbles, Mash, Meal Or Cake
2) By Feed Type: Roughages, Concentrates
3) By Trait: Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST)
North America was the largest region in the genetically modified animal products market in 2023. The regions covered in the genetically modified animal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing bioengineered food production is significantly contributing to the growth of the genetically modified animal products market. The use of bioengineering in food production refers to the manipulation of an organism’s genetic makeup to produce desired traits, such as increased yield or resistance to pests. This technology can be used to improve food crops, such as corn and soybeans, as well as animals used for food, such as cows and chickens. With the increase in population and demand for food, bioengineered foods have been proposed as a solution to help meet this demand and address issues such as food security and sustainability. In 2022, according to an article published by the United States Department of Agriculture, a US department responsible for agriculture regulations, stated that currently over 90% of corn, upland cotton, and soybeans grown in the United States are genetically modified varieties in the categorizes GE crops as herbicide-tolerant (HT), insect-resistant (BT), or stacked varieties that combine both HT and Bt traits. Therefore, the increasing bioengineered food production is significantly contributing to the growth of the genetically modified animal products market.
Key Industry Players
Major companies operating in the genetically modified animal products market are developing new technologies such as herbicide-tolerant trait technology to gain a competitive edge in the market. Herbicide tolerance refers to the genetic modification of a plant, typically a crop, to make it resistant to the effects of specific herbicides. For instance, in February 2023, Corteva, Inc., a US-based agricultural chemical company launched Optimum GLY canola, an advanced herbicide-tolerant trait technology designed for canola farmers. This proprietary glyphosate trait technology offers enhanced weed control and a broader window for herbicide application, providing farmers with greater flexibility for weed management. Canola, known for its protein and oil content, plays a crucial role in global food and energy demand.
The genetically modified animal products market report table of contents includes:
1. Executive Summary
2. Genetically Modified Animal Products Market Characteristics
3. Genetically Modified Animal Products Market Trends And Strategies
4. Genetically Modified Animal Products Market – Macro Economic Scenario
5. Global Genetically Modified Animal Products Market Size and Growth
……………….
31. Global Genetically Modified Animal Products Market Competitive Benchmarking
32. Global Genetically Modified Animal Products Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Genetically Modified Animal Products Market
34. Genetically Modified Animal Products Market Future Outlook and Potential Analysis
35. Appendix
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