The Genetically Modified Fruits by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Genetically Modified Fruits, The genetically modified fruits market size has grown rapidly in recent years. It will grow from $0.07 billion in 2023 to $0.08 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased crop yield, pest and disease resistance, extended shelf life, improved nutritional value, weather adaptability.
The genetically modified fruits market size is expected to see rapid growth in the next few years. It will grow to $0.12 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to investments in research and development, regulatory changes and market approvals, consumer acceptance and preferences, sustainability and resource efficiency, climate adaptability. Major trends in the forecast period include advancements in biotechnology, sustainability and resource efficiency, enhanced nutritional content, extended shelf life, consumer awareness and acceptanc, regulatory changes and policies.
The constantly developing global food demand is significantly contributing to the growth of genetically modified fruits. The global food demand is increasing mainly due to rising population, and the deterioration of natural resources. Food security for the expanding population must be ensured by sustainable food production methods. Due to weather restrictions and insect pests, most nations must import their food supplies, making food security appear challenging. However, the process of obtaining food security will be made easier by genetically modified crops’ resilience to climatic stress and increased yields. For example, in December 2022, according to a US-based financial agency IMF’s research estimates, an additional $5 billion to $7 billion in spending is required to support disadvantaged households in the 48 nations most impacted by the higher import prices for food and fertilizer. It will need an additional $50 billion to end severe food insecurity. Hence, increasing food demand is significantly contributing to the growth of the market for genetically modified fruits.
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The genetically modified fruits market covered in this report is segmented –
1) By Type: Vegetables, Crops, Fruits, Animal Products
2) By Trait: Herbicide Tolerance (HR), Insect Resistance (IR), Stacked Traits (ST)
3) By Application: Poultry, Swine, Cattle, Dairy, Aquaculture, Pet food, Equine, Other Applications
Top Major Players:
North America was the largest region in the genetically modified fruits market in 2023.
Major companies operating in the genetically modified fruits market focusing on strategic investments. Strategic investments are investments made by a corporation with the goal of increasing its success over time. For instance, in October 2022, Inari, a US-based seed gene editing startup, raised $124 million Series E round. Inari plans to use the extra funds to accelerate product development on the path to commercialization.
The genetically modified fruits market report table of contents includes:
1. Executive Summary
2. Genetically Modified Fruits Market Characteristics
3. Global Genetically Modified Fruits Market Trends And Strategies
4. Genetically Modified Fruits Market – Macro Economic Scenario
5. Global Genetically Modified Fruits Market Size and Growth
…….
26. Global Genetically Modified Fruits Market Competitive Benchmarking
27. Global Genetically Modified Fruits Market Competitive Dashboard
28. Key Mergers and Acquisitions In Genetically Modified Fruits Market
29. Genetically Modified Fruits Market Future Outlook and Potential Analysis
30. Appendix
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