(I-BusinessNews.Com, June 11, 2021 ) Non-GMO Food Market size was valued at $ 1.25 Billion by 2020, and is anticipated to grow at a CAGR of 13.8% during the forecast period 2021-2026. The Non-GMO Food Market growth rate is attributed to an increase in the number of health-conscious consumers and is anticipated to bring new opportunities. Non-GMO means non-genetically modified organisms, they are novel organisms created in a laboratory using genetic engineering techniques. Consumers and scientists and environmental groups have cited many environmental and health risks with foods containing GMOs. GMO food products consumption has led to diseases such as gastrointestinal disorders, organ damage, cancer and infertility, with the rising awareness in the people regarding the consumption of GMO is anticipated to be a major cause of shift over non-GMO food products and is poised to drive the growth of the market. The natural, organic and healthy non-GMO cereals is poised to grow the opportunity for Non-GMO food market in the forecast period of 2021-2026.
Inserting genes into the DNA of a food plant is random and this can disrupt the functionality of other genes and create novel proteins which are never in the food supply and can create toxin and allergies in the foods. Premium pricing of non-GMO food products is a major problem predicted to restrain the growth of non-GMO food market during the forecast period 2021-2026.
Non-GMO Food Market Segment Analysis – By Product
On the basis of product, cereals & grains segment held the highest segmental revenue share in 2020. This can be attributed to the fact that Increasing demand for whole grain products as a source of fiber and carbohydrates is projected to be the major factor driving the segment. GMO-free cereals, in particular, are anticipated to be the highest-consumed product.
On the contrary, meat & poultry product segment is anticipated to witness significant gains along the forecast period 2021-2026 owing to high product demand across the globe. The bakery products segment is also anticipated to witness significant growth over the coming years owing to increasing demand for healthy, organic bakery products.
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Non-GMO Food Market Segment Analysis – By Distribution Channel
On the basis of distribution channel, hypermarkets & supermarkets segment accounted for the largest segmental revenue of the Non-GMO Food market in 2020 owing to better brand visibility, and the availability of a wide range of products and brands.
However, the food specialty store is poised to hold the highest growth rate with a CAGR of 13.96% over the forecast period 2021-2026. This is attributed to the fact that major companies are expanding production facilities in developing economies to capitalize on benefits such as lower labor costs, as well as set-up costs, etc. The expansion of distribution channels and the growing popularity of e-commerce platforms is also poised to significantly support market growth.
Non-GMO Food Market Segment Analysis – By Geography
North America is the major region dominating the Non-GMO Food market with a market share of 42.16% in the year 2020 owing the rising consumption of animal-rich protein sources. The U.S. was the leading producer of cereals and grains in 2018 and is anticipated to maintain its dominant position in the coming years.
However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to the fact that China is one of the fastest-growing economies in Asia-Pacific with a substantial percentage of the population. Also, rapidly expanding manufacturing sector in Asia-Pacific owing to the initiatives, such as ÂMade in ChinaÂ and ÂMake in IndiaÂ, is projected to contribute to the market growth. mussels.
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Non-GMO Food Market Drivers
Increasing Acceptance of Non-GMO Labelled Foods Around the Globe
The Non-GMO Food market is poised to receive upswing owing to increasing health awareness among consumers and the rising adoption of vegetarian and vegan lifestyles particularly in the developed regions such as North America and Europe, are stimulating the demand for foods that are formulated using organic and non-GMO ingredients such as grains, seeds, and fruits. The popularity of organic food products is poised to rise during the forecast period and subsequently boost the growth of the non-GMO foods market. Moreover, with the increasing advertising cost and various health initiatives undertaken by the government and various global companies, the market is also anticipated to grow in the developing regions such as Asian countries particularly in China and Japan, where consumers have started to consume clean food and beverage, during their regular consumption of food.
Non-GMO Food Market Challenges
Premium pricing of non-GMO food products
Despite several drivers, premium pricing of non-GMO food products is one of the major problems and is to act as a restrain, and further challenge the growth of non-GMO food market forecast period 2021-2026.
Non-GMO Food Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Non-GMO Food Market. In 2019, Non-GMO Food Market share is fragmented by the top ten players present in the market. Non-GMO Food Market top 10 companies are myÂs Kitchen Inc, Hain Celestial, NatureÂs Path Foods, Organic Valley, UNFI, Chiquita Brands International Inc, United Natural Foods Inc, Specialty Food Associations, Inc, BLUE DIAMOND GROWERS, Cargill, Incorporated and others.
In October 2016, Cargill, Inc. for the first time took the step to gain Non-GMO Project Verification for three of its food ingredients and thereby, announced Non-GMO Project Verified ingredients collaboration between most-recognized non-GMO seal and supply-chain leader to boost non-GMO ingredient availability.
North America dominated the Non-GMO Food Market with a share of 42.16% in the year 2020.
The factors such as rising awareness in masses towards negative implications caused by the consumption of genetically-modified food products are amongst the major factor projected to impel growth of Non-GMO Food Market.
The shift towards healthier diet choices and lifestyle and increasing awareness about non-GMO foods owing the various health complications associated with beet sugar and other artificial ingredients are the key factors owing the growth in the segment during forecast period 2021-2026
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