Non-GMO Food Market Analysis, Size, Share, Trends, Demand, Growth, Opportunities and Forecast 2029
The global non-GMO food market USD 577.74 billion in 2020. The market value is estimated to rise from USD 623.96 billion in 2021 to USD 1,231.13 billion in 2028 at a CAGR of 10.20% during the projected timeline. Shifting inclination of consumers towards healthier foods is a major factor driving the market growth. The healthy-eating trend has gained significant momentum during COVID-19 and will continue to create new opportunities for market players worldwide, states Fortune Business Insights™ in its report titled “Non-GMO Food Market, 2021-2028”.
Non-GMO (Genetically Modified Organisms) Foods are formulated with ingredients derived from genetically engineered organisms. These foods offer significant health benefits, which is why they are increasingly becoming popular among the masses. Besides a range of health benefits, these foods are highly sustainable and eco-friendly. A significant percentage of consumers are choosing environmentally-friendly products, which is boosting non-GMO food production across the globe.
COVID-19 Impact
Market Demand Soars as Health and Immunity gain Importance
Health, immunity, and wellbeing gained ample significance amid the COVID-19 pandemic, which aided non-GMO food market growth globally. The vast majority of individuals were seen opting natural food ingredients as they looked to improve their personal health. However, movements on restriction, supply chain uncertainty, and other factors created several roadblocks for the market between 2020 and 2021.
Segments
Based on type, the market is segmented into fruits & vegetables, cereals & nuts, meat & poultry products, dairy products, processed food, beverages, and others.
By distribution channel, the market is classified into specialty stores, hypermarkets/supermarkets, online retail stores, and others.
In terms of geography, the market is broken down into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraints, opportunities, and potential challenges for the market.
- Comprehensive insights into the global as well as regional developments.
- List of key industry players.
- Major strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Increasing R&D to Advance Non-GMO Food Market Landscape
As more consumers switch towards sustainable foods, the non-GMO food market is swiftly moving from being a niche market to a mainstream market within the food & beverage sector. The market is fueled by the rising number of certified non-GMO processors.
Rising R&D investments in the field will further support the market developments. Both the market players and research organizations are actively funding research and development projects to introduce innovative products to the market. For instance, Nature’s Path introduced a new keto line of cereal and granolas in September 2021. These products are non-GMO, 100% organic, gluten-free, dairy-free, plant-based, and do not contain artificial flavors or sweeteners.
However, the availability of a wide range of alternative and presence of competing labels acts as a restraint to the market expansion.
Regional Insights
North America to Lead Market Share Led by Growing Sustainable Food Demand
North America is slated to dominate the non-GMO food market share during 2021-2028. The regional trends will be influenced by the explosive growth in the demand for sustainable food products. Increased awareness towards personal health as well as the environment are key factors influencing customers and their purchasing decisions.
Europe will record substantial growth in the market, led by growing sales of non-GMO food products across the retail sector. Favorable policies by the respective governments to encourage the production and consumption of such products will positively influence the regional market.
Meanwhile, the market in Asia Pacific will grow at a notable CAGR during the projected period, driven by growing consumer interest in sustainable products, rising purchasing powers, and growing awareness towards non-GMO foods.
Browse In-depth Summary of This Research Insight@
https://www.fortunebusinessinsights.com/non-gmo-food-market-106359
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