Bioengineered Food Market

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• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
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BIOENGINEERED FOOD MARKET ANALYSIS

• Bioengineered Food Market, by Product Type
  (Vegetables, Fruits, Crops, and Others (Animal
  Products, etc.)), and by Region (North America,
  Latin America, Asia Pacific, Europe, and Middle
  East and Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2019 - 2027

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• Definition of Market/Industry
• The expansion of the food industry is expected to
  drive growth of the bioengineered food market
  across the globe. Demand for bioengineered food
  in the food industry is also increasing which is
  contributing to the market growth. According to
  India Brand Equity Foundation (IBEF), the food
  industry in India was valued at US 39.71 billion
  in 2017, which increased to US 65.4 billion in
  2018 witnessing CAGR of 11.  
• Statistics
• The bioengineered food market was valued at US
  31.23 Bn in 2018, and is expected to reach US
  62.43 Bn by the end of 2027, exhibiting a CAGR of
  8.0 during the forecast period (2019 to 2027).
• Drivers
• The rising demand for bioengineered crops is
  expected to boost growth of the bioengineered
  food market across the globe. Bioengineered crops
  are plants used in agriculture wherein the DNA
  has been modified by using bioengineering
  techniques. Bioengineering is the technique of
  simple addition, manipulation, or deletion of a
  single trait in an organism to create a desired
  change.

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• Market Restraints
• The increasing demand and awareness regarding
  organic food is expected to hamper the growth of
  the global bioengineered food market during the
  forecast period.

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Figure 1. Global Bioengineered Food Market Share
(), By Region, 2018
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• Market Opportunities
• Key players are focusing on new product launches
  to gain a dominant market share in the
  bioengineered food market at a global level.
• For instance, in June 2017, The Dow Chemical
  Company launched its new bioengineered
  (genetically modified) Enlist corn in China,
  and announced its availability in the U.S. and
  Canada in 2018. Dows Enlist corn is engineered
  to combat weeds which are resistant to the widely
  used herbicide glyphosate, which is the main
  ingredient in Monsantos popular Roundup
  herbicide. This is expected to boost consumer
  demand and thereby help the company in increasing
  its customer base.

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Figure 2. Global Bioengineered Food Market Share
(), By Product Type, 2018
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• Market Trends/Key Takeaways
• Key players and government organizations are
  adopting inorganic growth strategies such product
  development and taking initiatives to increase
  awareness regarding bioengineered food, which is
  expected to boost growth of the global
  bioengineered food market. For instance, in March
  2020, the U.S. Food and Drug Administration (FDA)
  collaborated with the U.S. Environmental
  Protection Agency (EPA) and the U.S. Department
  of Agriculture to launch a new initiative to help
  customers understand the bioengineered foods
  which have been created by making use of genetic
  engineering.

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• Based on product type, the global bioengineered
  food market is segmented into vegetables, fruits,
  crops, and others (animal products, etc.). In
  2018, crops segment accounted for 57 of the
  revenue share.
• Competitive Section
• Company Names 
• Bayer AG
• BASF SE
• Syngenta AG
• The Dow Chemical Company
• DuPont de Nemours, Inc.
• Sakata
• Groupe Limagrain
• KWS SAAT SE Co. KGaA
• Recent Developments
• Bayer AG
• In May 2016, the company acquired the American
  agrochemical company, Monsanto. This acquisition
  helped the company in expanding its integrated
  agriculture business in the U.S. and Europe.
  Moreover, Monsanto was one of the largest
  suppliers of bioengineered seeds, which was an
  added advantage for Bayer AG.

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