Bioengineered Foods Market

Market overview: 

Market overview: 

The global Bioengineered Food Market was valued at $20.7 billion in 2023. It is expected to reach $90 billion by the end of 2032, growing at a CAGR of 15.5% over the forecast period. This increase reflects their increases in importance in international food systems. Several factors drive this growth. An upsurging population demands more food production, and bioengineered crops offer advantages, for instance, higher yields and better pest resistance, for making available the resources required for the food security of a fast-growing population.

Besides, concerns about sustainability make bioengineered foods more attractive since they would require less water and pesticide application. There is a growing consumer awareness of the added benefits, including longer shelf life and less food wastage, possibly with better nutrition. Advancing biotechnology promises even more efficiency and sustainability. However, challenges also lie ahead.

The regulatory landscapes are very different around the world, which provides a lot of complexity for expansion into those markets. Secondly, consumers are concerned about safety and long-term effects, which require transparencies of information and education. Lastly, ownership over genetic information and possible environmental risks raise ethical concerns that have to be openly discussed and developed responsibly. The next will provide a broad overview to introduce our in-depth analysis of the bioengineered food market.

In 2023, Bioengineered Food Market Size was valued at USD 20.7 Billion and is expected to reach USD 90 Billion by the end of 2030 with a CAGR of 15.5% 

Bioengineered Foods Market

Size, by Product, - (USD Billion)

Bioengineered crops

Bioengineered livestock

Bioengineered microorganisms

Other Products

The Market will Grow

At the CAGR of:

17.7%

The Forecast Market

Size for in USD:

$90 billion

Growth Driver

The Increase in World Population

Led by the growing global population, food demand is currently peaking and agriculture will face a challenge to produce more with less on due to the shrinking arable land owing for increased urbanization a climate change. Greater crop yields per acre and less food waste taking are some promising outcomes of biotechnology. It helps in increasing yield, hastening the growth period and resisting pests as well decreasing food insecurity such that biofortification improves nutritional content. 

They reduce the environmental footprint of agriculture (saving a lot on chemical inputs and all). Yet issues like mixed public attitudes, fears around safety and red tape persist. Public attitudes in Bioengineered Food contexts are critically influenced by culture and misinformation, which build up the regulatory framework that operates on a country basis. The key, then will be how to allay the fears espoused in that study by educating consumers about safety and benefits while ensuring proper regulation. Biotechnology is poised to address these challenges, and can assist in meeting the increasing demand for food globally and contribute to global food security as well as a better life on earth.

Key players:

1. Monsanto (Germany)

2. DowDuPont (USA)

3. Syngenta (Switzerland)

4. BASF SE (Germany)

5. The Scotts Miracle-Gro Company (USA)

6. Merck KGaA, Darmstadt (Germany)

7. Evogene Ltd. (Israel)

8. DuPont Pioneer (USA)

9. KWS SAAT SE & Co. (Germany)

10. Sakata Seed Corporation (Japan)

11. Genus plc (UK)

12. Intrexon Corporation (USA)

13. Bogor Life Science Center (Indonesia)

14. Arcadia Biosciences, Inc. (USA)

15. Cellectis S.A. (France)

16. Caribou Biosciences Inc. (USA)

17. Cibus Global Inc. (USA)

18. Yield10 BioSciences Inc. (USA)

19. Benson Hill Inc. (USA)

20. Pairwise Plants (USA)

Recent Development:

May 28, 2024: World Seed Congress 2024: Bayer advances genome-editing initiatives for nutrition enhanced vegetables

05 May 2017: Syngenta shareholders accept ChemChina offer; China National Chemical Corporation (ChemChina) today announced the provisional interim results for ChemChina’s offer to acquire Syngenta.

Evogene and The Kitchen FoodTech Hub by Strauss Group Established Finally Foods Ltd. – Revolutionizing Protein Production in Plants for the Food Industry

Bioengineered Foods Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

17.7%

The Forecast Market

Size for in USD:

$90 billion

Market Segmentation

By Type:

• Bioengineered crops

• Bioengineered livestock

• Bioengineered microorganisms

By Application:

• Food production

• Nutritional enhancement

• Industrial uses

By Trait

• Herbicide Tolerance

• Insect Resistance

• Disease Resistance

• Drought Tolerance

By Technique

• Traditional Breeding Methods

• Modern Biotechnology Methods

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Bioengineered Foods Market TO (USD BN)

CAGR OF

17.7%

Bioengineered Foods Market

90 billion%

Region Analysis

Globally, North America represents the largest market for Bioengineered Food Market and is expected to provide substantial growth opportunities for Bioengineered Food seed companies in all its sectors. The largest markets for Bioengineered Food agricultural seeds are North and South America, with the latter controlling those viewing that technology on a global scale. The figure was significantly high considering almost all of the soybean and about 70% maize grown in these areas are Bioengineered Food. The U.S demand specifically for corn and soy bean products has a profound impact on what acres are planted, which fields get seed treatment from chemicals to pesticides.

Asia Pacific is projected to be the fastest growing market for Bioengineered Food crops and a future perspective can help agricultural business grow in developing economies. Eggplant production in Bangladesh illustrates the successful testing of this technology, which was first deployed as a field crop during 2013-14 with resulting significant yield increases. Vietnam also started planting Bioengineered Food maize and had increased the planted area noticeably by 2017. In the coming years, promising launch of different features in crops other than what is available now will continue to provide impetus for Bioengineered Food seeds market growth across this region.

Market trends:

Precision Fermentation: The Future of Customized and Sustainable Food Production

Precision fermentation is revolutionizing the food industry by developing novelty and customized ingredients produced by genetically engineered microbes. These microbes encode certain DNA sequences to make several types of proteins, flavors, and enzymes. This technology has been most impactful in alternative protein development, including plant-based meat and dairy variants that can match up with their animal-based counterparts in taste and texture. Besides that, it allows for the reproducibility of natural flavors, the feasibility of rare ingredients, and sustainability with lower costs; thus, a vital driver toward clean-label and allergen-free foods.

Precision fermentation has quite a bright future in matching personalized dietary needs and preferences with more sustainable food production. This technology represents a platform that, with less reliance on conventional agriculture, addresses the growing diversified and specialized food products requirements in an extremely friendly manner concerning environmental impact. Yet challenges persist, including high costs of production and consumer education regarding trusting the safety and benefits of foods made from biotechnology. As the technology improves, it will definitely continue to shape the future in developing a more sustainable food industry that is tailored-made.

Bioengineered Foods Market TO (USD BN)

CAGR OF

17.7%

Bioengineered Foods Market

90 billion%

Market Opportunities 

The biotech food market has vast potentials, but no company will be able to benefit from these emerging opportunities unless it becomes responsive to the consumers and substantially survives the change in the marketplace. Following is some of the key areas to consider:

Biotech Foods Innovation: Produce new biotech food products, including replacement protein sources, which would have better taste and improved texture. This would include biotechnology plant-based meats that mimic conventional animal products as closely as possible, fruits, and vegetables bioengineered for nutritional enhancement or shelf-life extension.

Precision Fermentation for Personalization: Precision fermentation enables the personal building of food ingredients to their value addition to cater to particular food needs or preferences. These could be allergen-free food, health probiotics targeting specific conditions, or nutritional solutions personalized to the individual niche consumer bioengineered food.

Crops from biotechnology have become attractive to the people interested in sustainability. There has been an increase in demand for crops with increased yields, resistant to drought or particular pests and diseases. Such innovations will fall in line with organic farming practices whereby one gets crops with minimal resource use and reduced dependence on chemical fertilizers and pesticides.

Companies that consider transparency vital in labelling and also transparently communicate their practices in biotechnology build trust. Educate the public on the benefits and safety of biotech foods to win a competitive advantage in the marketplace.

Addressing Special Consumer Needs: Foods that address a variety of allergies and intolerances, and many different kinds of diets, have become increasingly demanded by consumers. Biotechnology can help provide gluten-free grains, lactose-free dairy products, and healthier fats and oils that meet the demands of health-oriented consumers.

Biotech foods may be further used to enhance functionality, including vitamin and mineral-fortified crops, or food enhanced with antioxidants. An added trend is in the development of biotech foods designed for targeted health benefits-for example, digestive or gut health-which is of growing interest to the health-conscious consumer.

Smoothing Food Production Processes: Biotechnology will make it possible to smoothen the chain of food production, reduce food wastes, and enhance food security to meet the food requirements of the increasing human population. In turn, this will contribute positively to efficiency and sustainability within companies by adding value to the steadiness of food supply.

Market Restraints:

Lack of transparency and labelling: 

Lack of transparency and inconsistent labelling practices have prevented the growth of this marketplace. In fact, in most regions, biotech foods are not required to meet any standard ingredient labelling; that creates confusion among consumers and mistrusts for those foods. Poor information about the ingredients and genetic alteration raises uncertainty since consumers often are not in a good position to make choices. This ambiguity adds to a feeling of deception, whereby consumers perceive that food manufacturers of biotech food are not being open about their products.

Besides that, the regulatory gap also plays a significant role because the labelling standard of biotech foods is significantly different across countries. There are those regions where labelling is not necessarily mandatory, while others necessitate specific regulations over them. This inconsistency hampers consumer confidence and further slows down market adoption. These issues can be eliminated if the labelling is proper, ingredient information is improved, and proper communication takes place by both the biotech food producers and consumers. With this in place, greater transparency will breed trust and thereby enhance the products' acceptance in the biotech food industry.

Conclusion

In conclusion Globally, the Bioengineered Food Market is expected to grow on a large scale due to increasing population worldwide along with an enhanced requirement of food and sustainable agricultural practices. Bringing our food system to the next level of productivity, biotech enables downstream benefits in terms of yield increases and higher nutritional contents as well eco-efficiency. Nevertheless, a number of patients will have to face different regulatory environments, doubts about consumer safety and question marks around genetic information being used against them. The transparency, consumer education and innovative product development are going to play a major role in the acceptance of bioengineered foods into the global market.