Press release
Genetically Modified Feed Market 2024: Latest Trends and Future Opportunities Analysis to 2031
Genetically Modified Feed Market
"Genetically Modified Feed Market" in terms of revenue was estimated to be worth $95.29 billion in 2023 and is poised to reach $157.71 billion by 2031, growing at a CAGR of 6.69% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Genetically Modified Feed Market are:
* Increasing demand for enhanced livestock productivity
* Rising awareness about the benefits of genetically modified feed
* Advancements in biotechnology
The following are the primary obstacles to the Genetically Modified Feed Market's expansion:
* Including stringent regulatory frameworks
* Consumer skepticism regarding genetically modified organisms
* Concerns about potential environmental impact
Future expansion opportunities for the global Genetically Modified Feed Market include:
* Environmental sustainability
* Enhanced feed efficiency
* Improved nutrient content
Market Analysis:
The Genetically Modified Feed Market involves the production and sale of animal feed derived from genetically modified organisms (GMOs). These modified feeds are designed to enhance nutritional content, improve animal health, and increase overall agricultural productivity. The market plays a crucial role in modern livestock and poultry farming practices.
List of Prominent Players in the Genetically Modified Feed Market:
* Bayer AG,
* Syngenta,
* DuPont,
* Dow,
* Monsanto,
* BASF,
* Corteva Agriscience,
* R. Simplot Company,
* Okanagan Specialty Fruits Inc
Genetically Modified Feed Market Report Scope:
Report Attribute
Specifications
Market size value in 2023
USD 95.29 billion
Revenue forecast in 2031
USD 157.71 billion
Growth rate CAGR
CAGR of 6.69% from 2024 to 2031
Quantitative units
Representation of revenue in US$ Million, and CAGR from 2024 to 2031
Historic Year
2019 to 2023
Forecast Year
2024-2031
Report coverage
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments covered
By Source, Application, Form, Feed Type
Regional scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Recent Developments:
* In February 2022, Bayer AG, a German pharmaceutical and biotechnology company, announced its plans to launch its new genetically modified cotton seeds in India. It aimed to bring the high-yielding and herbicide-tolerant solution to the nation.
* In May 2022, Syngenta Switzerland launched VICTRATO, a novel seed treatment that targets damaging nematodes and diseases in crops. This, in turn, will help increase crop quality and yield.
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Genetically Modified Feed Market Dynamics:
Market Drivers: Increasing Demand for Enhanced Livestock Productivity
The increasing demand for enhanced livestock productivity is a key driver for the Genetically Modified (GM) feed market. Genetically modified feed offers improved nutritional content, disease resistance, and growth efficiency, leading to enhanced livestock performance. Farmers and livestock producers are embracing GM feed to meet the growing global demand for animal products, such as meat, milk, and eggs. The genetic modifications in the feed contribute to higher yields, improved feed conversion ratios, and overall better animal health. As a result, the adoption of GM feed is driven by the imperative to achieve greater agricultural efficiency and address the escalating need for high-quality animal products in response to the increasing population and changing dietary preferences.
Challenges: Concerns about Potential Environmental Impact
The Genetically Modified (GM) feed market faces a significant restraint due to concerns about its potential environmental impact. Critics worry that the cultivation and use of GM crops for animal feed may lead to unintended consequences such as the development of superweeds, loss of biodiversity, and contamination of non-GM crops. Additionally, there are fears that the introduction of genetically modified organisms into the ecosystem could disrupt natural ecosystems and harm beneficial insects. These environmental apprehensions have prompted regulatory scrutiny and public skepticism, posing challenges to the widespread acceptance and adoption of GM feed in animal agriculture. Addressing these concerns is crucial for the sustainable development of the GM feed market.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North America Genetically Modified Feed Market is likely to register a significant revenue share and to develop at a rapid CAGR in the near future. This is due to the region's advanced agricultural practices and increasing demand for high-quality livestock products. The adoption of genetically modified feeds, designed for improved animal nutrition and productivity, has gained traction among farmers. The United States and Canada are key contributors to this market, leveraging biotechnology to enhance feed efficiency and animal health. Regulatory frameworks and consumer perceptions play crucial roles in shaping the industry landscape. As North America continues to embrace innovative agricultural technologies, the GM feed market is expected to maintain steady growth, contributing to the overall advancement of the livestock sector in the region.
Segmentation of Genetically Modified Feed Market-
By Source-
* Crops
* Corn
* Soybean
* Cottonseed
* Canola
* Alfalfa
* Others
* Fruits & Vegetables
* Papaya
* Potato
* Eggplant
* Others
By Form-
* Pellets
* Crumbles
* Mash
* Meal/Cake
By Feed Type-
* Roughages
* Concentrates
By Application-
* Poultry
* Layer
* Broiler
* Turkey
* Others
* Swine
* Grower
* Starter
* Sow
* Cattle
* Dairy
* Calf
* Others
* Aquaculture
* Carp
* Trout
* Salmon
* Shrimp
* Others
* Pet food
* Dogs
* Cats
* Birds
* Fish
* Equine
* Others
By Region-
North America-
* The US
* Canada
* Mexico
Europe-
* Germany
* The UK
* France
* Italy
* Spain
* Rest of Europe
Asia-Pacific-
* China
* Japan
* India
* South Korea
* South East Asia
* Rest of Asia Pacific
Latin America-
* Brazil
* Argentina
* Rest of Latin America
Middle East & Africa-
* GCC Countries
* South Africa
* Rest of Middle East and Africa
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Media Contact
Company Name: InsightAce Analytic Pvt. Ltd
Contact Person: Diana D'Souza
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=genetically-modified-feed-market-2024-latest-trends-and-future-opportunities-analysis-to-2031]
Country: United States
Website: https://www.insightaceanalytic.com/
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Takii Seed
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