Leading Companies Consolidating Their Presence in the Bioengineered Food Market

The bioengineered food sector is on a trajectory of significant expansion, driven by technological advancements and growing demands in agriculture and food production. As global challenges such as climate change and food security intensify, this market is set to play a crucial role in shaping sustainable and resilient food systems for the future.

Projected Market Size and Growth of the Bioengineered Food Market
The bioengineered food market is anticipated to experience rapid growth, reaching a valuation of $62.69 billion by 2030. This represents a robust compound annual growth rate (CAGR) of 10.5%. The surge in market size during the forecast period is largely fueled by increased demand for crops that can withstand climate change, a heightened emphasis on ensuring food security, broader deployment of precision breeding methods, growing investments in alternative protein sources, and wider acceptance of bioengineered food products. Key trends expected to influence this market include the expanded application of CRISPR-based crop development, a focus on enhancing nutritional traits, greater adoption of cellular agriculture technologies, commercialization growth, and a stronger focus on yield stability.

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Leading Players Steering the Bioengineered Food Market
Several prominent companies dominate the bioengineered food landscape, including BASF SE, Bayer AG, Syngenta AG, Corteva Agriscience, DuPont de Nemours Inc., J.R. Simplot Corp., Sakata Seed Corporation, International Rice Research Institute, Rothamsted Research, Okanagan Specialty Fruits Inc., GreenVenus LLC, AquaBounty Technologies Inc., Calyxt Inc., Nuseed Global, Norfolk Healthy Produce, Monsanto (Bayer Crop Science), KWS SAAT SE, Dow AgroSciences, Pairwise, and Arcadia Biosciences.
A notable development in August 2023 saw Italy-based Cora Seeds acquire the onion and pumpkin programs from KWS SAAT SE & Co. KGaA. This strategic acquisition aims to strengthen Cora Seeds' portfolio and expand its footprint within the agricultural sector, particularly in vegetable seed breeding. KWS SAAT SE & Co. KGaA, headquartered in Germany, is known for providing advanced breeding methods such as genome editing for bioengineered foods.

Important Trends Shaping the Bioengineered Food Market
Leading companies are focusing on developing innovative products like transgenic insect-resistant crops designed to enhance yields and promote sustainable farming. These genetically modified crops carry genes that provide resistance to insect pests, reducing the need for chemical insecticides, improving crop protection, and increasing resilience against pests.
For example, in January 2024, the Nigerian Federal Government approved the commercial release of TELA maize varieties, including SAMMAZ 72T, 73T, 74T, and 75T. These maize strains are engineered to resist major pests such as the stemborer and fall armyworm. Additionally, they are drought-tolerant, making them well-suited for regions with inconsistent rainfall. Under optimal conditions, these varieties can yield up to 10 tons per hectare, outperforming the national average of 6 tons for comparable hybrids. They are adaptable across diverse ecological zones including rain forests, guinea, and Sudan savannas, and aim to significantly reduce maize losses due to pests-thereby bolstering food security throughout Africa.

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Detailed Market Segmentation and Forecast in the Global Bioengineered Food Industry
This report segments the bioengineered food market along several key lines:
1) Product Type - including vegetables, fruits, crops, and other product categories
2) Type of Modification - covering cellular agriculture and genetic modification
3) Technology - such as CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) and tissue culture
4) Trait - including disease resistance, herbicide tolerance, insect resistance, and nutritional enhancement
5) Application - spanning food and beverage, animal feed, pharmaceuticals, and other uses

Further breakdown includes:
- Vegetables: GM tomatoes, eggplant, potatoes, and peppers
- Fruits: GM apples, bananas, and strawberries
- Crops: GM soybeans, cotton, rice, and canola
- Other products: bioengineered meat, dairy products, and grains

This comprehensive segmentation highlights the diverse range of innovations and product types driving the bioengineered food market forward.

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This release was published on openPR.