The non-GMO food market will reach the value of US$144,322 million in 2031
DUBAI, DUBAI, UNITED ARAB EMIRATES, Jan. 14, 2022 /EINPresswire.com/ — Newly released non-GMO food market data analyzed by the IMF estimates that the non-GMO food market is enjoying a growth rate from 10.4% to gift. The market is expected to witness a significant growth rate of a CAGR of 13.2% to reach the value of US$144,322 million in 2031.
The global non-GMO food market will gain popularity as consumer demand grows due to changes in food trends like healthy eating, choosing natural food products, etc. This change is motivated by an increase in the number of health-related problems and awareness of the harmful consequences of the consumption of genetically modified foods.
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The rise of smart labels that facilitate instant access to product-specific information is another factor propelling the growth of transparent non-GMO food manufacturers globally. The market is expected to cross a market value of US$3.4 billion by the end of 2031.
“Favorable consumer trends and increasing government regulations will enable manufacturers to produce and promote non-GMO products. Advanced packaging and labeling technologies such as QR codes and RFID will help drive growth,” reveals the IMF report.
Key Findings from the IMF Non-GMO Food Market Survey
• Grains and cereals will represent a major market demand with a growth rate of 22% until 2029
• Bakery and confectionery products will generate lucrative opportunities with 19% growth.
• Indirect distribution channels will prevail in terms of market share and growth.
• North America and Latin America will cumulatively represent more than 50% of the global market value.
Explore the full Non-GMO Food Market Report with 96 Illustrative Figures, 84 Data Tables and Table of Contents. Also find detailed market segmentation at https://www.futuremarketinsights.com/askus/rep-gb-11088
Key Growth Drivers – Non-GMO Food Market
• The increase in purchasing potential and the reduction in production costs play a major role in the growth of the market for non-GMO food products.
• Advances in labeling and packaging practices will contribute significantly to demand.
• Rising consumer awareness and prevalence of plant-based vegan diets will aid in the growth of the market.
Main Barriers – Non-GMO Food Market
• Changing consumer preferences and economic conditions to demographic trends are a major challenge for manufacturers active in the non-GMO food market.
• The higher pricing of non-GMO food products is also a major challenge that limits the growth of the industry.
Competitive Structure Analysis – Non-GMO Food Market
The competitive landscape of the non-GMO food market remains moderately fragmented and competitive. Major producers are pushing for the establishment of distribution warehouses for efficient logistics, in addition to mapping future growth trajectories based on consumer income levels and the penetration of plant-based vegan diets.
Some of the major players in the non-GMO food market include, but are not limited to, Cargill Inc., The Hain Celestial Group Inc., Associated British Foods Plc, Nestle SA, General Mills Inc., Danone, Kraft Heinz and Co. Archer Daniels Midland.
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