September 2023
Genetically Modified Feed Market (By Source: Crops, Fruits & Vegetables; By Form: Pellets, Crumbles, Mash, Meal/Cake; By Feed Type: Roughages, Concentrates; By Application: Poultry, Swine, Cattle, Dairy, Aquaculture, Pet food, Equine, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global genetically modified feed market size was USD 95.44 billion in 2023, calculated at USD 100.72 billion in 2024 and is expected to reach around USD 163.49 billion by 2033, expanding at a CAGR of 5.53% from 2024 to 2033. The rising demand for nutrient-rich food across the world is driving the growth of the genetically modified feed market.
The genetically modified feed market is one of the most important industries of the biotechnology industry. This industry mainly deals with developing hybrid crops to sustain the increasing demand for food across the world. There are several types of sources that mainly include crops such as corn, soybean, cottonseed, canola, alfalfa, and some others. The forms of genetically modified feed mainly include pellets, crumbles, mash, and meal/cake. There are two feed types: roughages and concentrates. Genetically modified feed has several applications, including poultry, swine, dairy, cattle, pet foods, and others. This industry is expected to grow exponentially with the growth in the genetic engineering sector.
Report Coverage | Details |
Market Size by 2033 | USD 163.49 Billion |
Market Size in 2023 | USD 95.44 Billion |
Market Size in 2024 | USD 100.72 Billion |
Market Growth Rate from 2024 to 2033 | CAGR of 5.53% |
Largest Market | North America |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Source, Form, Feed Type, Application, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Rising demand for GM feed for additional nutrient value
Food habits around the world have changed rapidly with the advancements in the biotechnology sector and its related fields. Nowadays, the demand for multi-nutrient-based food products is increasing. The developments in genetically modified crops have allowed the development of food products with numerous benefits that provide several advantages for people. For instance, the demand for genetically modified soybeans and corn has increased as they provide added benefits that are not found in conventional soybeans or corn.
Moreover, several companies are engaged in research and development of genetically modified crops with added nutritional value to grab maximum customer attention. Thus, the growing demand for GM feed due to its added value is expected to drive the growth of the genetically modified feed market.
Side effects and testing methodologies
The application of genetically modified feed has gained traction in recent times. Although there are several advantages to genetically modified crops, there are also several problems associated with them. Firstly, the testing methodologies of some genetically modified crops are not conducted at various levels of testing that make them suitable for commercial use. Secondly, there are several side effects associated with genetically modified food products, including allergic reactions, antibiotic resistance, immune suppression, and others. Thus, the absence of proper testing methodologies, along with side effects associated with the consumption of genetically modified food, is likely to restrain the growth of the genetically modified feed market during the forecast period.
Integration of AI in genetic engineering
The applications of AI have increased rapidly in the fields of genetic engineering due to its ability to provide accurate results and processing methodologies associated with it. Recently, the integration of AI has been done in genetic engineering to get superior outcomes and the development of protein-based crops. Thus, the growing integration of AI technology in bioinformatics research activities is expected to create ample growth opportunities for genetically modified feed market players in the future.
The crops segment held the largest market share in 2023 and is expected to continue its dominance during the forecast period. The crops segment is divided into several types, including corn, soybean, cottonseed, canola, alfalfa, and others. The demand for genetically modified crops has increased due to the increase in population across the world, boosting market growth. Also, genetically modified crops come with several benefits, including high nutrition, less pesticide use, disease and drought resistance, faster growing of crops, and some others, which are likely to drive the growth of the genetically modified feed market.
The fruits and vegetables segment is expected to grow at a significant rate during the forecast period. This segment mainly consists of genetically modified papaya, potato, eggplant, and some others. The growing advancements in gene cloning technologies and the rising demand for nutrient-rich vegetables are driving the market growth. Moreover, the rising emphasis of government organizations on developing genetically modified vegetables and fruits with added benefits is likely to drive the growth of the genetically modified feed market.
The pellets segment dominated the market in 2023. The growing developments in the palletization processes, along with the rising focus on sustainability, are driving the market growth. Moreover, the rising application of pellets in power generation, industrial heating, commercial and domestic heating, and some others has driven the market growth. Also, the growing demand for wood pellets for clean energy generation is likely to boost the growth of the genetically modified feed market.
The meal/cake segment is expected to grow with the highest CAGR during the forecast period. The growing demand for soya de-oiled cake as an organic supplement, along with its usage in the poultry industry as a protein and micronutrient, is driving the market growth. Moreover, the shortage of soy feed across several countries such as India, Canada, the U.S., and some others has increased the import activities for genetically modified soy meal/cake, thereby driving the growth of the genetically modified feed market.
The concentrates segment held the largest share of the market in 2023. The growing demand for genetically modified concentrates due to their high protein content and less fiber is driving the market growth. Moreover, the rising application of concentrates such as genetically modified oil cakes, cereal grains, and cotton seeds for cattle feeds has driven the growth of the genetically modified feed market. Also, the ongoing research and developmental activities related to the research and development of genetically modified feeds are boosting the market growth to some extent.
The roughages segment is expected to grow at the fastest rate during the forecast period. The demand for cattle rearing as a primary occupation across the world has increased the demand for genetically modified roughages, thereby driving the market growth. Moreover, the rising application of roughages in animal feed ingredients, along with the increasing demand for genetically modified roughages as they improve the rumen function in cattle, is boosting the growth of the genetically modified feed market.
The poultry segment dominated the market in 2023 and is expected to continue its dominance during the forecast period. The growing demand for broiler chicken as a meat product across the world has driven market growth. Moreover, the rising application for egg-related items has increased the demand for genetically modified eggs, thereby driving market growth. Also, the rising demand for genetically modified ducks, turkeys, and geese due to their additional nutritional values has boosted the growth of the genetically modified feed market.
The cattle segment is expected to grow in the market during the forecast period. The growing demand for dairy products such as milk, ghee, and paneer across the world has increased the demand for genetically modified cattle, thereby driving the market growth. Moreover, the growing trend of precision livestock farming, along with rising demand for cattle meat in Western countries, has driven the market growth. Also, rising advancements in genetic engineering, along with developments of transgenic cattle with superior qualities, are likely to drive the growth of the genetically modified feed market.
North America held the largest genetically modified feed market share in 2023. The market's growth in the North American region is mainly driven by rising government investment in developing the biotechnology sector in countries such as the U.S., Canada, Mexico, and others. The rising developments in genetic engineering, along with advancements in technologies related to biotechnology, are driving the market growth in this region. Also, there are several research institutes related to the research and development of genetically modified feed, which in turn has driven the market growth. Moreover, the rising awareness of people regarding genetically modified crops increases the demand for genetically modified feeds, thereby driving market growth.
Moreover, the presence of several local market players such as Monsanto, Stine Seed, Corteva, and some others are constantly engaged in developing genetically modified feeds and adopting several strategies such as launches, joint ventures, and business expansions, which in turn drives the growth of the genetically modified feeds market in this region.
Asia Pacific is expected to be the fastest-growing region during the forecast period. The growing demand for dairy products and broiler chicken has boosted the market growth. Also, rising investments by new startup companies for developing genetically modified crops along with growing interest of people towards genetically modified brinjal, banana, tomato, and maize in India, Japan, China, Singapore, Australia, Thailand, and others is driving the market growth.
Also, the government of several countries such as India, China, Japan, and others have increased their emphasis on developing genetically modified crops with added nutritional value, which in turn drives the market growth. For instance, in December 2022, the government of India urged several biotech research institutions to develop genetically modified seeds for 13 important crops, including rice, wheat, and sugarcane, with improved yield and quality.
Moreover, there are several local companies such as Maharashtra Hybrid Seed Company (MAHYCO), JK Agri Genetics, Origin Agritech Ltd, Kanematsu Corporation, and some others are constantly engaged in developing home dialysis systems and adopting several strategies such as launches, joint ventures, and acquisitions, which in turn drives the growth of the genetically modified feeds market in this region.
Segments Covered in the Report
By Source
By Form
By Feed Type
By Application
By Geography
If you have questions about this insights, please email at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
September 2023