After a detailed analysis, Triton Market Research has constitutively analyzed that the genetically modified foods market is projected to display an upward trend in terms of revenue and is estimated to grow at a CAGR of 5.85% during the forecasting years of 2019-2027. The market was assessed to be worth $22716.84 million in the year 2018 and is predicted to generate a revenue of approximately $37450.77 million by the year 2027. Genetically modified food is generated from the altered DNA of animals and plants through genetic engineering techniques and the organisms utilized in the process are termed as GMO.

Genetic engineering consists of procedures for direct manipulation of the genomics of an organism. There are several techniques for modifying the genes of an entity; for instance, transforming the DNA of other organisms. This is not similar to the traditional process, which involved selecting specific breeding plants and animals to achieve the required qualities. In the US, genetically modified foods are being manufactured and utilized sine 1994. One of the prominent examples is the introduction of "Flavr Savr" tomatoes that are engineered to grow slower than their required time.

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Genetic engineering can be equipped for several purposes. Presently, by using this technique, a large variety of soy and corn are developed in the United States to achieve resistance from herbicides. This eases the task of spraying the field with weed killers. Some other kinds of crops are modified to resist pests. Genetic engineering conceivably helps to create crops that can endure drought or help in producing vegetables, fruits, etc., that are more nutritious, healthy and beneficial.

Scientific evidence has proven that genetically modified foods have no health risk than other normal foods. However, GM foods have been into controversy. Some debate that genetically modified crops depend on the growing usage of herbicides that have a disturbing quantity of chemical or reference problems as GMOs are patented and owned by big companies, which has resulted in arguing over GMOs being labeled or strictly regulated.

In spite of all the criticisms and hindrances, the demand for the GMO foods market is rising in recent years due to its nutritional value. But, the GMO foods market is in its early stage and has a long way to penetrate further into every shelf of the market. Since the demand for GMO foods is rising continuously, stacked traits which is a mix of more than one transgene is expected to see the highest increase when compared to insect resistance (IR) and herbicide tolerance (HT).

The genetically modified foods market report from Triton has discussed the market definition and key insights regarding the industry as well as the evolution and transition of genetically modified foods. Also, industry components, regulatory framework, market opportunity insights, market attractiveness matrix, vendor scorecard, Porter's five force analysis, key impact analysis, industrial player positioning and key market strategies have been studied.

The key market drivers such as the surging demand for healthy food, high demand for crop yield, increase in the genetically modified crop plantations and the reduction in the use of pesticides have been analyzed further in the report. The industry is facing stiff market restraints like the negative impact on soil fertility and stringent government regulations which are obstructing the growth of the market globally.

Key opportunities like the increasing investments in biotechnology research & development, growing adoption of genetically modified foods in developing geographies, rise in the production of GM foods and the technological developments can be leveraged by the industry to boost the growth over the projected period. However, despite the multiple growth avenues, the lack of public awareness is one of the key challenges obstructing the market growth.

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Geographies covered in the genetically modified foods market are:

• North America: the United States and Canada

• Europe: Regional Analysis

• Asia-Pacific: China, Philippines, India, Australia, Pakistan and rest of Asia-Pacific

• Latin America: Brazil, Argentina, Paraguay, Uruguay, Bolivia and rest of Latin America

• Africa: South Africa and rest of Africa

The genetically modified foods market, in this report, has been segmented into:

• By food type:

o Crops

• Corn

• Soybean

• Canola

• Sugar beet

• Cotton

• Other crops

o Vegetables

o Fruits

o Animal products

The key players in the genetically modified foods market are Takii & Co., Ltd., Okanagan Specialty Fruits, Inc. (OSF), DLF-Trifolium, KWS SAAT SE, Dow-DuPont, BASF SE, Syngenta, Bayer AG, Stine Seed, Group Limagrain, J.R. Simplot, Monsanto Company, Metahelix Life Sciences Limited, AquaBounty Technologies, Inc. and WinField Solutions, LLC.

The strategic analysis for each of these companies in the genetically modified foods market has been covered in detail. The company market share helps to dive into the information about the key market players in this industry and their hold on the market.



