The bioengineered food is genetically modified food which is produced from organisms. The bioengineered foods allow higher yield and also contains higher nutritional value. The global bioengineered food market is expected to grow with the CAGR of approximately 5% during the forecast period 2016-2023. The global bioengineered food market growth is driven by following factors:
- Increasing demand for nutritional and healthy food
- Decreases requirement of pesticides
- Rising yield production
- Increasing investment in biotech r & d
Global bioengineered food market is mainly driven by increasing approval of genetically modified or bioengineered food across the globe isadding meaning full growth in the global bioengineered food market. Thus, such features of bioengineered food is increasing its usage. According to International Science for the Acquisition of Agri-Biotech Application (ISAAA) the recently approved bioengineered food or genetically modified crops across the globe are: Recently, on April 26,2017, South Korea approved a new maize event (HT+IR) MON87427 x MON89034 x TC1507 x MON87411 x 59122for food use that is tolerant to glufosinate and glyphosate herbicides. According to ISAAA from January 2017 to April 2017 around 14 bioengineered food / GM crops approval got across the globe out of which around 7-8 was done by South Korea only. Hence, the increasing approval for the genetically modified crops or bioengineered food is adding gigantic growth opportunity for the global bioengineered food market. However, there are few factors such as high impact on soil fertility due to genetic pollution and lack of government regulation that are restricting the growth of the global bioengineered foodmarket. The high impact on soil fertility due to genetic pollution is one of the major factor that is restricting the growth of the global bioengineered foodmarket. Moreover, the increasing demand for bioengineered food from developing countries such as India, China, Brazil, etc. and increasing availability of genetically modified foods / bioengineered foodsis creating gigantic opportunity for the global bioengineered foodmarket. According to ISAAA, Brazil has granted a commercial approval for cotton eventsi.e. MON88701 (stacked HT) and GHB614 x T304-40 x GHB119 x COT102 (HT + IR). on April 20, 2017.
Source: OBRC Analysis.
The global bioengineered food market segments include type.
Type of bioengineered food includes:
- Animal Product
- Crops
- Fruits
- Vegetables
The report scope is widely categorized on the basis of its type which include animal products, crops, fruits and vegetables.
Geographically, the global bioengineered food market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America held largest market share of around 40%, in terms of revenue in 2016 in global bioengineered foodmarket.the growing demand for nutritional food and rising yield production is boosting the growth in the North America bioengineered food market. The growth in North America bioengineered food market is also driven by the presence of key players such as Dow Chemical Company (US), DuPont (US), Monsanto (US), WinField (US) etc. all such players are adopting various initiatives which is boosting the growth in the market. In December 2016, Monsanto share, owners has approved the Merger with the Bayer. The merger was worth around $66 billion and after the completion of merger Monsanto shareowners received around $128 per share. Hence, the growing strategic initiative by the key players across the globe is boosting the growth in the North Americabioengineered foodmarket. Asia Pacific is the fastest growing region in the global bioengineered foodmarket. The growth in the Asia Pacific region is mainly driven by the growing regulatory approvals for bioengineered food in the developing countriessuch as India, China, South Korea, Malaysia, etc.and growing production activity of bioengineered crops, fruits, vegetables, etc. In January 2017, Malaysia has approved a cotton event for feed and food use GHB614 (HT) and China has approved cotton event COT102 (IR)and soybean event MON87769 (PQ) and MON87708 (stacked HT) for food use. Hence, increasing approval for the development of bioengineered foodin the developing countries is boosting the growth in the Asia Pacific bioengineered food market.
The global bioengineered food market is segmented into type. The type segment further segmented into animal product, crops, fruits and vegetables. The crops segment held the largest market share in global bioengineered food market type segment. Growing biotech crop such as soya, cotton, maize etc. across the globe is attributing towards the largest share of the crop segment. According to ISAAA, Maize global biotech hectare (land used for bioengineered food production) was valued at 53.6 million hectares in 2015 which has raised to 60.6 million hectares in 2016. Hence, the increasing production of genetically engineered food or bio engineered food across the globe is driving the growth in the global bioengineered food market.
The major market players of the global bioengineered food market are:
- BASF GMBH (US)
- BAYER CROP SCIENCE (GERMANY)
- DLF-TRIFOLIUM (DENMARK)
- DOW CHEMICAL COMPANY (US)
- DUPONT (US)
- MONSANTO (US)
- OTHERS
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. On March 2017, FMC Corporation and DuPont has entered into an agreement. The FMC has made agreement to acquire the DuPont Crop Protection Business. The acquisition allows the FMC to broadleaf global crop protection portfolio R&D capabilities of DuPont.
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- Covers details analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, competitive landscape analysis of major players of voice communication segment market.
- Identify, understand, and the strength, opportunities, challenges and threat of the bioengineered food market.
- Report includes detailed analysis of different segments such as type.
- The report includes market estimation, forecast and analysis for the year 2016-2023
- Detailed analysis of various the regulatory policies which are affecting the global bioengineered food market.
- Detailed patent analysis for bioengineered food market
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At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global bioengineered food market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis, patent analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the bioengineered food market, with giving extensive SCOT analysis of key companies.
Key Findings of the global bioengineered food market.
- Increasing production of bioengineered food is the key driving factor that is boosting the growth in the market.
- North America held highest revenue share in 2016.
- Crop type segment held the large revenue share in 2016 due to increasing production of GM crops across the globe.
- Product development is the key strategy adopted by players of bioengineered food market
