PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515378
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515378
Genetically Modified Feed Market size was valued at USD 94,789.76 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Genetically modified feeds, renowned for their nutrient-rich composition, are predominantly utilized in livestock and animal husbandry to enhance the health and nutritional value of the animals. The burgeoning consumer inclination towards meat products has emerged as a significant catalyst for market expansion. Governments worldwide closely monitor the production and integration of GMO feeds to uphold quality standards. In the United States, for instance, the U.S. Food and Drug Administration (FDA) is key in ensuring the safety of both GMO and non-GMO animal feeds. Specifically, the Center for Veterinary Medicine is entrusted with overseeing this regulatory responsibility, ensuring compliance with stringent safety protocols throughout the cultivation and utilization of GMO feeds.
Genetically Modified Feed Market- Market Dynamics
Shift towards the adoption of genetically modified feed across various livestock and poultry sectors to propel market demand
The growth of the genetically modified feed market can be ascribed to the heightened awareness among stakeholders regarding the manifold benefits offered by genetically modified feed. With a deeper understanding of its potential to enhance animal health and productivity, there is a notable shift towards the adoption of genetically modified feed across various livestock and poultry sectors. This awareness catalyzes the market's growth as more farmers and producers recognize the value proposition it presents. Moreover, the imperative to meet the ever-increasing global demand for animal-derived products serves as a driving force behind the market's expansion. As population growth and rising disposable incomes propel the demand for meat, dairy, and other animal-based products, there arises a pressing need to optimize production efficiency. Genetically modified feed emerges as a solution to this challenge, offering a means to boost yields and ensure a sustainable supply of high-quality animal products to meet consumer demands worldwide. Consequently, the convergence of heightened awareness and the imperative to fulfil global dietary needs synergistically propels the growth of the genetically modified feed market.
Genetically Modified Feed Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on source segmentation, crops were predicted to show maximum market share in the year 2023
Based on application segmentation, poultry was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Genetically Modified Feed Market is segmented based on Form, Source, Feed Type, Application, and Region.
The market is divided into two categories based on source: crops and fruits & vegetables. As of 2023, the crops segment holds the largest share of the market. The widespread cultivation and adoption of genetically modified crops by farmers, particularly in North America, play a pivotal role in driving global market expansion. Moreover, the availability of cost-effective pesticides and crop protection agents incentivizes farmers to embrace GMO crops, further bolstering the outreach of GMO feed.
The market is divided into six categories based on application: poultry, swine, cattle, aquaculture, pet foods, and equine. The poultry segment is poised to witness significant growth throughout the assessment period. The escalating demand for poultry-based products across various regions fuels the expansion of the poultry industry, consequently driving the demand for poultry feed and fostering growth within the poultry application segment.
Genetically Modified Feed Market- Geographical Insights
With a presence in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa, this market boasts a truly global footprint. Specific countries within these regions create further market divisions. Geographically, the global genetically modified feed market is segmented into Europe, Asia Pacific, North America, the Middle East & Africa, and Latin America. North America is anticipated to maintain dominance in the market throughout the forecast period. The region boasts numerous genetically modified crop cultivation sites and feed manufacturing industries, facilitating the widespread availability of safe food and placing a significant emphasis on animal husbandry. These factors contribute to North America's continued prominence in the global market.
In the Genetically Modified (GM) Feed Market, major players deploy strategic initiatives such as partnerships, product innovation, and regulatory compliance to fortify their market standing. Collaborations with agricultural bioFeed Type firms, seed developers, and livestock producers afford companies access to genetically modified feed ingredients tailored to specific animal nutrition requirements, including enhanced growth rates, disease resistance, and nutrient efficiency. These partnerships stimulate innovation in feed ingredient development, integrating traits like herbicide tolerance and insect resistance to augment crop yields and curtail production costs. Furthermore, ongoing product innovation ensures companies offer a diverse array of GM feed options compatible with various livestock species and production systems. Adherence to regulatory guidelines and safety standards remains paramount to maintaining consumer trust and market access for GM feed products. Thus, continuous efforts in compliance and transparency in labeling and traceability are imperative. Through strategic partnerships, product innovation, and regulatory compliance, companies in the Genetically Modified Feed Market uphold their market leadership, foster innovation, and contribute to global food security and sustainability objectives.
In June 2021, Paine Schwartz Food Chain Fund IV announced the sale of Verisem BV ("Verisem"), an integrated global seed production company, to Syngenta's vegetable seeds business ("Syngenta"), a part of the Syngenta Group. Syngenta, a global leader in agricultural science and innovation headquartered in Switzerland, stands to bolster its offerings in the agricultural sector through this acquisition.
GLOBAL GENETICALLY MODIFIED FEED MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Bayer CropScience.
BASF SE.
Syngenta.
DowDuPont.
R. Simplot Co.
JK Agri Genetics Ltd.
Maharashtra Hybrid Seed Company (MAHYCO)
Calyxt Inc.
Others