The Genetically Modified Animal Products by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Genetically Modified Animal Products, The genetically modified animal products market size has grown rapidly in recent years. It will grow from $0.03 billion in 2023 to $0.04 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased food demand, improved livestock productivity, nutritional enhancement, reduced environmental impact, efficient feed conversion.
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.
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.
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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)
Top Major Players:
- Bayer AG
- Syngenta AG
- Pioneer Hi-Bred International Inc.
- Dow Inc.
- Monsanto Company
North America was the largest region in the genetically modified animal products market in 2023.
Product innovations are a key trend gaining popularity in the genetically modified animal products market. Major companies operating in the genetically modified animal products market are introducing new innovative genetically modified animals and products to strengthen their position in the market. For instance, In October 2021, Clara Foods, (EVERY Company), a US-based food technology company introduced the world’s first animal-free egg protein, EVERY ClearEgg™, The innovative product is produced from a genetically modified yeast strain and the protein is highly soluble and nearly invisible, making it ideal for use in food and beverage products. The company plans to expand its product platform and offer a variety of functionalities with its egg protein portfolio in the future.
The genetically modified animal products market report table of contents includes:
1. Executive Summary
2. Genetically Modified Animal Products Market Characteristics
3. Global 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
…….
26. Global Genetically Modified Animal Products Market Competitive Benchmarking
27. Global Genetically Modified Animal Products Market Competitive Dashboard
28. Key Mergers and Acquisitions In Genetically Modified Animal Products Market
29. Genetically Modified Animal Products Market Future Outlook and Potential Analysis
30. Appendix
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