According to a new research report by Global Market Insights Inc., the genetically modified feed market is slated to surpass USD 135 billion by 2030.
Constantly increasing food demand across the globe will accelerate the genetically modified feed industry trends. International affairs to aid poverty-stricken nations, along with developments in food solutions, will boost the demand for genetically modified feeds. For instance, according to FDA, GMO crops offer several benefits, mainly making food more affordable and accessible for consumers. The USAID works with partner nations to use genetic engineering for improving staple crops.
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Government safety norms to use non-GMO crops may emerge as a major restraining factor. Nevertheless, continuous advancements and consumer demand for meat products may encourage growers to adopt GMO feeds for better food availability.
Growing awareness regarding stereotypes to push the demand for GMO vegetables
Based on source, the report classifies the genetically modified feed market into crops (canola, corn, cottonseed, soybean, alfalfa) and fruits & vegetables (potatoes, papaya, eggplant). The fruits & vegetables segment will depict substantial demand through 2030 due to the increasing penetration of GMO feeds in vegetable cultivation as a result of mounting consumer awareness and clarification of false misconceptions associated with GMO-based products, such as them being hazardous upon consumption. Moreover, GMO vegetables are extensively fed to equine and cattle because of their low cost and easy availability, which will further improve the market outlook.
Crumbles form segment to depict significant CAGR
The report identifies that genetically modified feed in crumbles form will showcase considerable demand through 2030. The segment growth is attributed to the ease in the digestion of these feeds by animals post-consumption at a global level. The GMO feed market size from crumbles form was more than 60 million tons in 2021 and is expected to surpass 80 million tons by the end of the forecast period.
High nutrition and reasonable cost to accelerate concentrates feed type market expansion
Concentrates will account for a significant revenue share in the genetically modified feed market by 2030 owing to their quality of providing nutrients that forage lacks. Also, they have proven themselves to be highly economical as compared to any other feed type. As a result of its cost-effectiveness, consumers, especially in the dairy industry, opt for concentrates feed type that allows them to increase the nutrient content of milk at a reasonable rate, thereby boosting its sales.
Browse key industry insights spread across 400 pages with 387 market data tables & 8 figures & charts from the report, “Genetically Modified Feed Market Size By Type (Crop, Fruits & Vegetables), Form (Pellets, Crumble, Mash, Meal/cake), Feed Type(Roughages and Concentrates), End use (Poultry, Swine, Cattle, Aquaculture, Pet Foods, Equine), Industry Analysis Report, Regional Outlook, Traits Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market 2022- 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/genetically-modified-feed-market
Increasing demand for dairy products to push cattle application segment demand
The market size from cattle application will exceed USD 28 billion in revenue by 2030. The growing consumer inclination towards dairy products is attributed to the rich calcium content for infants and children for initial development, the dairy application will contribute heavily to the overall market expansion. In the western region, cattle are also a popular source of meat and are preferred largely in local cuisines, which has promoted cattle rearing demand. Moreover, the majority of cattle feed contains GMO crops as the base, driving the GMO feed market growth.
Europe to become a leading regional ground
Europe genetically modified feed market will be valued at over USD 23 billion by 2030. Consumer preference for animal-based sources of protein promotes animal rearing practices, generating feed demand. In addition, the presence of advanced feed manufacturers in the region will further accelerate the market progress.
Latin America genetically modified feed market is broadly spread across countries such as Brazil, Mexico, and Argentina. The region supports foreign direct investments as well as certain trade policies that are favorable for feed manufacturing industries and advancements in the agricultural sector. As per the report, the LATAM GMO feed market size will exhibit considerable growth through 2030.
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Acquisitions to remain a pivotal growth strategy
The competitive landscape of the genetically modified feed industry is inclusive of Dow, Bayer, BASF, Syngenta, DuPont, and Monsanto. These companies engage mainly in product innovation and strategic acquisitions & collaboration to strengthen their market position in the coming years.
