GMO Feed Market size to exceed $135bn by 2030

GMO Feed Market size is estimated to surpass USD 135 billion by 2030, according to a new research report announced by Global Market Insights Inc.
 

The report identifies the rising consumption of meat across North America and strong penetration in the animal feed industry as the chief GMO feed industry drivers. In the United States, for instance, meat consumption reached 264 pounds per person by 2020 and is projected to increase supported by economic growth in the country. The increasing need for meat will help augment the demand for genetically modified feed worldwide.
 

Healthy features of fruits to increase GMO fruits & vegetables industry share

With respect to source, the study segregates the GMO feed market into crop (corn, soybean, canola, cottonseed, alfalfa) and fruits & vegetables (papaya, potatoes, eggplant). The global genetically modified feed industry size from the fruits & vegetables segment is primed to cross USD 5 billion by 2030. Genetically modified fruits are disease resistant, which aids in the prevention of pathogenic losses for farmers and enhances their earnings. This factor will boost the interest of farmers and end-users in GMO fruits, which will propel the overall market demand.
 

Easy availability to push meal or cake form segment growth

The report further cites notable uptake of GMO feed in the form of meal or cake, especially for animal farming. The oil manufacturing industries majorly opt for meal or cake feeds as they are easily available and are most preferred due to their high nutrient content that benefits animal health. Product demand will rise primarily in APAC and North America. The GMO feed market from the meal/cake form segment was recorded at over USD 25 billion in 2021 and is projected to exceed USD 40 billion by 2030.
 

Roughages segment to benefit from wide applicability

The report classifies the genetically modified feed market into roughages and concentrates. Roughages segment was over 150 million tons in 2021 and is expected to contribute more than 200 million tons by the end of the assessment period. The surging usage of roughage feed is on account of its health benefits, such as assistance in improving animal digestion and promoting gut health. Additionally, it aids in preventing certain risk factors for heart disease and managing animal weight, which will further contribute to the positive market inclination worldwide for GMO feed.
 

Browse key industry insights spread across 400 pages with 387 market data tables & 8  figures & charts from the report, “Genetically Modified Feed Market Size By Type (Crop {Corn, Soybean, Canola, Cottonseed, Alfalfa}, Fruits & Vegetables {Papaya, Potatoes, Eggplant}), By Form (Pellets, Crumble, Mash, Meal/cake), By Feed Type(Roughages and Concentrates), By End use (Poultry {Layer, Broiler, Turkey}, Swine {Grower, Starter, Sow}, Cattle {Calf, Dairy}, Aquaculture {Carp, Trout, Salmon, Shrimp}, Pet Foods {Dogs, Cats, Birds, Fish}, Equine), Industry Analysis Report, Regional Outlook, Traits Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market 2022- 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/genetically-modified-feed-market
 

High customer demand for pork to augment swine application segment

The demand for GMO feed in swine farming will remain high in the coming years. The GMO feed market from the swine application segment will record a valuation of over USD 25 billion by 2030. Product utilization for swine application is foreseen to observe a significant rise owing to its efficient conversion rates of feed to meat. Several countries rely on swine production to meet their national food demand and thus, require GMO feed. The segment growth will further be driven by significant government spending on food management projects.
 

Asia Pacific emerges as a prominent revenue pocket for genetically modified feed industry

Asia Pacific GMO feed market will display the highest growth rate of over 6% through the study timeline. The region may emerge as a prominent hub for this industry backed by heavy product demand in the airless tires market owing to soarin disposable income in the APAC region. Furthermore, increasing application in the manufacturing, construction, agriculture, fishery, and food industries with high involvement of safety footwear will also stimulate regional market progress.
 

Product innovation to remain a key growth strategy

The strategic landscape of the GMO feed market is expected to witness a series of product innovations and strategic acquisitions & partnerships by industry players. For instance, in 2020, Bayer AG, a pharmaceutical and biotechnology company, launched its new enhanced small-sized corn variety called Vitala under its pilot project for Mexico. The shorter branches of corn makes it suitable for extreme weather conditions and the new variety also requires minimal land, nitrogen, and water to grow. This innovation helped the company expand its customer base. Some of the key genetically modified feed market players included in the report are DuPont, Dow, BASF, Bayer, Syngenta and Monsanto.