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Bioengineered Food Market- 2017-2027

Definition of Market/Industry:

The expansion of the food industry is expected to drive growth of the bioengineered food market across the globe. Demand for bioengineered food in the food industry is also increasing which is contributing to the market growth. According to India Brand Equity Foundation (IBEF), the food industry in India was valued at US$ 39.71 billion in 2017, which increased to US$ 65.4 billion in 2018 witnessing CAGR of 11%.  

Statistics:

The bioengineered food market was valued at US$ 31.23 Bn in 2018, and is expected to reach US$ 62.43 Bn by the end of 2027, exhibiting a CAGR of 8.0% during the forecast period (2019 to 2027).

Drivers:

The rising demand for bioengineered crops is expected to boost growth of the bioengineered food market across the globe. Bioengineered crops are plants used in agriculture wherein the DNA has been modified by using bioengineering techniques. Bioengineering is the technique of simple addition, manipulation, or deletion of a single trait in an organism to create a desired change.

Statistics:

Figure 1. Global Bioengineered Food Market Share (%), By Region, 2018

Bioengineered Food  | Coherent Market Insights

Market Restraints

The increasing demand and awareness regarding organic food is expected to hamper the growth of the global bioengineered food market during the forecast period.

Market Opportunities

Key players are focusing on new product launches to gain a dominant market share in the bioengineered food market at a global level.

For instance, in June 2017, The Dow Chemical Company launched its new bioengineered (genetically modified) ‘Enlist corn’ in China, and announced its availability in the U.S. and Canada in 2018. Dow’s Enlist corn is engineered to combat weeds which are resistant to the widely used herbicide glyphosate, which is the main ingredient in Monsanto’s popular Roundup herbicide. This is expected to boost consumer demand and thereby help the company in increasing its customer base.

Market Trends/Key Takeaways

Key players and government organizations are adopting inorganic growth strategies such product development and taking initiatives to increase awareness regarding bioengineered food, which is expected to boost growth of the global bioengineered food market. For instance, in March 2020, the U.S. Food and Drug Administration (FDA) collaborated with the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Agriculture to launch a new initiative to help customers understand the bioengineered foods which have been created by making use of genetic engineering.

Figure 2. Global Bioengineered Food Market Share (%), By Product Type, 2018

Bioengineered Food  | Coherent Market Insights

Based on product type, the global bioengineered food market is segmented into vegetables, fruits, crops, and others (animal products, etc.). In 2018, crops segment accounted for 57% of the revenue share.

Competitive Section:

Company Names 

  • Bayer AG
  • BASF SE
  • Syngenta AG
  • The Dow Chemical Company
  • DuPont de Nemours, Inc.
  • Sakata
  • Groupe Limagrain
  • KWS SAAT SE & Co. KGaA

Recent Developments

Bayer AG

  • In May 2016, the company acquired the American agrochemical company, Monsanto. This acquisition helped the company in expanding its integrated agriculture business in the U.S. and Europe. Moreover, Monsanto was one of the largest suppliers of bioengineered seeds, which was an added advantage for Bayer AG.

The global bioengineered food market is expected to exhibit a CAGR of 8.0% over the forecast period owing to rising awareness about various benefits offered by bioengineered foods. For instance, increasing yield for food crops is important to fulfil the growing demand for food across the globe. Bioengineered crops offer higher yield in terms of various food crops such as soybean, cotton, sugar beets, and corn among others which can be a solution to meet demand for food worldwide.

Among product type, the global bioengineered food market is segmented into vegetables, fruits, crops and others (animal products, etc.). The crops segment accounted for the maximum share in 2018 owing to the government approvals for bioengineered crops such as cotton across the globe. For instance, in October, 2018, the U.S. government permitted consumption of bioengineered cotton in the U.S. The U.S. Food and Drug Administration (FDA) also announced the approval for bioengineered cotton in the same year. The governing means that cottonseed could be made available as food for people and all kinds of animals.

Among regions, Asia Pacific is expected to account for a significant market share during the forecast period owing to increasing government support for bioengineered crops in emerging economies such as India and China. In December 2019, according to data published by China’s Agriculture Ministry, the government of China approved a new strain of bioengineered (genetically modified) soybeans imports from the U.S. The approved variety is an insect-resistant soybean from the company Dow AgroSciences LLC. The Chinese government approved a new type of bioengineered papaya, and renewed permits for 10 crop varieties which include canola and corn.

Furthermore, key players are adopting inorganic growth strategies such as product launches and product development in order to expand their share in the global bioengineered food market. For instance, in 2015, an India-based company, Mahyco, launched the first bioengineered brinjal in the market. This crops got approval from the Genetic Engineering Approval Committee (GEAC). This brinjal has been developed in collaboration with the Indian Institute of Vegetable Research, Varanasi, Tamil Nadu Agriculture University, Coimbatore, University of Agricultural Sciences, Dharwad, Cornell University, USA, and the University of Philippines.

Key features of the study:

  • This report provides in-depth analysis of the global bioengineered food market and provides market size (US$ Billion) and cumulative annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global bioengineered food market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Bayer AG, BASF SE, Syngenta AG, The Dow Chemical Company, DuPont de Nemours, Inc., Sakata, Groupe Limagrain and KWS SAAT SE & Co. KGaA.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding their future products launches, technology upgradation, market expansion, and marketing tactics
  • The global bioengineered food market report caters to various stakeholders in this industry including investors, suppliers, bioengineered food manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the bioengineered food market

Detailed Segmentation:

  • Global Bioengineered Food Market, By Product Type:
    • Vegetables
    • Fruits
    • Crops
    • Others (Animal Products, etc.)
  • Global Bioengineered Food Market, By Region:
    • North America
      • U.S.
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Canada
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
    • Europe
      • U.K.
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Germany
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Italy
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • France
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Russia
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Rest of Europe
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
    • Asia Pacific
      • China
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • India
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Japan
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • ASEAN
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Australia
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • South Korea
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Rest of Asia Pacific
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
    • Latin America
      • Brazil
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Argentina
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Mexico
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Rest of Latin America
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
    • Middle East & Africa
      • Middle East
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)
      • Africa
        • By Product Type:
          • Vegetables
          • Fruits
          • Crops
          • Others (Animal Products, etc.)  
  • Company Profiles
    • Bayer AG*
      •  Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BASF SE
    • Syngenta AG
    • The Dow Chemical Company
    • DuPont de Nemours, Inc.
    • Sakata
    • Groupe Limagrain
    • KWS SAAT SE & Co. KGaA

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Bioengineered Food Market, By Product Type, 2017- 2027 (US$ Bn)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Vegetables   
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
    • Fruits  
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
    • Crops  
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
    • Others (Animal Products etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
  5. Global Bioengineered Food Market, By Region, 2017- 2027 (US$ Bn)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2026 (%)
      • Y-o-Y Growth Analysis, For Region, 2018 - 2026
    • North America
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
    • Latin America
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
    • Europe
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
    • Asia Pacific
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
    • Middle East & Africa
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Middle East
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
        • Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027   (US$ Bn)
  6. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Bayer AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • BASF SE   
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Syngenta AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Dow Chemical Company    
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • DuPont de Nemours, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sakata
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Groupe Limagrain  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • KWS SAAT SE & Co. KGaA     
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 40 market data tables* and 20 figures* on "Bioengineered Food Market” - Global forecast to 2027.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users