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Food Biotechnology Market 2019 By Industry Growth & Regional Forecast

Author : Rahul Sankrityayan | Published Date : 2019-06-28 

Global Market Insights, Inc. has announced the launch of Food Biotechnology Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Increasing technological advancements in food industry will drive the food biotechnology market. Shifting consumer focus towards food quality, taste, nutrition and shelf life will support demand for genetically modified plants and animals. Changing climatic conditions and farming loss are expected to support production of genetically modified crops. Growing concern pertaining to usage of pesticides and herbicides for the crop yield will support penetration of innovative technologies over the projected timeframe.

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Rising concern pertaining to global food insecurity in developing countries with rising population will propel the food biotechnology market. As per FDA, area under biotech crop production increased by 4.7 million hectares in 2017 due to higher commodity prices for consumable products and increasing demand in developing economies. India, Brazil, Pakistan, Mexico, Colombia, etc. have increased the area under genetically modified crop production to meet the rising demand with growing population.

Changing dietary patterns and growing demand for processed items has urged the food & beverage manufacturers to improve the nutritional content in their products. Global processed-food industry is estimated to be valued over USD 3.2 trillion in 2018 and 80% of agricultural products in the developed countries get processed and packaged. Strong demand for high-quality functional ingredients by food processing companies will create lucrative opportunities for food biotechnology market players over the forecast period.

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Rapid expansion of beverage sector will also provide new growth opportunities in the food biotechnology market share. Fermentation is the key process used in beverage and bakery industry, thus creating new avenues for industry participants. Emerging middle-class consumers in developing economies with rapid urbanization is anticipated to propel implementation of biotechnology solutions in beverage sector. Increasing demand for high-quality & premium beverages accompanied rising disposable income will support manufacturers investment in new product development.

Food Biotechnology Market, By Type

  • Transgenic crops
  • Synthetic biotechnology derived products

Food Biotechnology Market, By Application

  • Animals
  • Plants
  • Others (micro-organisms)

Transgenic crop is expected to observe growth over 9% in terms of revenue up to 2025. Factors such as low labor & production cost, reduced application of chemical inputs and better economic gains are among the key factors that will positively influence the segment growth. In addition, growing subcontract agreements between private firms and the farmers to boost genetically modified crops production, will foster overall food biotechnology market over the forecasted timeframe.

North America food biotechnology market is anticipated to hold over 29% share in 2018. U.S. is the largest producer of genetically modified crops for commercial purpose, thus supporting overall regional growth. More than 93% of the corn, soy and cotton cultivated in the country are genetically modified. About 70% of the processed food in the U.S. are manufactured using genetically modified ingredients. In addition, increasing demand for processed and packaged products owing to busy lifestyle will foster the regional food biotechnology market share.

Global food biotechnology market is competitive in nature due to the presence of large multinational and regional players. Key industry participants include BASF SE, Bayer Crop Science AG, AquaBounty Technologies, Dow AgroSciences LLC, ABS Global, Arcadia Biosciences, BDF Ingredients Zuchem, Camson Bio Technologies Ltd and Monsanto. New product development, mergers and acquisition, geographical expansion are few strategies adopted by the participants.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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