Genetically Modified Animal Products Global Market Report 2024

The genetically modified animal products market size has grown rapidly in recent years. It will grow from $0.03 billion in 2023 to $0.04 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth observed in the historical period can be attributed to factors such as increased food demand, improved livestock productivity, nutritional enhancement in animal products, a focus on reducing environmental impact, and the achievement of efficient feed conversion in genetically modified animal products.

The genetically modified animal products market size is expected to see rapid growth in the next few years. It will grow to ' $0.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be attributed to factors such as climate change mitigation, a heightened focus on sustainable agriculture, improved disease resistance in genetically modified animals, regulatory support, and the utilization of genetically modified animals in biopharmaceutical production. Major trends expected in the forecast period include increased research in functional foods, the development of genetically modified aquatic species, nutritional enrichment of animal products, growing attention to ethical considerations and animal welfare, and a rise in global research collaborations in the field of genetic modification in animal products.

The significant increase in bioengineered food production is a major driver of growth in the market for genetically modified animal products. Bioengineering in food production involves manipulating an organism's genetic makeup to achieve specific traits, such as enhanced yield or resistance to pests. This technology is applied not only to improve food crops such as corn and soybeans but also to animals used for food consumption, such as cows and chickens. As the global population expands and the demand for food rises, bioengineered foods are being considered as a solution to address challenges such as food security and sustainability. In 2022, the United States Department of Agriculture reported that over 90% of corn, upland cotton, and soybeans grown in the United States are genetically modified varieties, categorized as herbicide-tolerant (HT), insect-resistant (BT), or stacked varieties combining both HT and Bt traits. Consequently, the surge in bioengineered food production significantly contributes to the growth of the genetically modified animal products market.

The growing demand for animal-based food products is anticipated to drive the future growth of the genetically modified animal products market. Genetic modification allows for increased production efficiency, improved disease resistance, and enhanced quality in animals used for food, meeting the rising global demand for protein. Economic factors, regulatory support, and evolving consumer acceptance further drive the adoption of genetically modified animal products as a viable solution to address the challenges posed by a growing population and changing food preferences. According to the Food and Agricultural Organization, the global meat supply is projected to reach 374 Mt by 2030, with a projected 14% increase in global consumption of meat proteins by 2030 compared to 2020. This includes expected growth in protein availability from beef, pork, poultry, and sheep meat. Thus, the escalating demand for animal-based food products is a key factor propelling the growth of the genetically modified animal products market.

A prominent trend in the genetically modified animal products market is the focus on product innovations by major companies. These companies are introducing new and innovative genetically modified animals and products to enhance their market position. For instance, Clara Foods (EVERY Company), a U.S.-based food technology company, introduced EVERY ClearEgg in October 2021, which is the world's first animal-free egg protein. Produced from a genetically modified yeast strain, this highly soluble and nearly invisible egg protein offers diverse functionalities for use in various food and beverage products.

Major companies in the genetically modified animal products market are also investing in new technologies, such as herbicide-tolerant trait technology, to gain a competitive advantage. Herbicide tolerance involves genetically modifying plants to make them resistant to specific herbicides. Corteva, Inc., a U.S.-based agricultural chemical company, launched Optimum GLY canola in February 2023, showcasing advanced herbicide-tolerant trait technology designed for canola farmers. This proprietary glyphosate trait technology provides enhanced weed control and a broader herbicide application window, giving farmers greater flexibility in weed management for canola cultivation.

In December 2022, LightJump Acquisition Corporation, a publicly traded company based in Germany specializing in acquisitions, merged with Moolec Science Ltd for $504 million. Through this merger, the combined companies aim to trade under the ticker 'MLEC' on the Nasdaq Capital Market, focusing on product innovation and expanding their diverse portfolio. Moolec Science Ltd., a UK-based food ingredient company, utilizes genetically modified plants to produce proteins typically found in animals, aligning with the evolving landscape of genetically modified animal products.

Major companies operating in the genetically modified animal products market report are Bayer AG, Syngenta AG, Pioneer Hi-Bred International Inc., Dow Inc., Monsanto Company, BASF SE, Corteva Inc., J.R. Simplot Company, Okanagan Specialty Fruits Inc., Klein Wanzlebener Saatzucht SE & Co. KGaA, Stine Seed Company, Biocytogen Pharmaceuticals (Beijing) Co. Ltd., Ligand Pharmaceuticals Inc., Omeros Pharma corporation, Brightseed Inc., Phylos Bioscience Inc., Pairwise Plants Inc., Biome Makers Inc., Medicinal Genomics Crop., Sakata Seed America Inc., AquaBounty Technologies Inc., Genus plc, Intrexon Corporation, Recombinetics Inc., Trans Ova Genetics LC, Revivicor Inc., Xenotransplantation Company, Transposagen Biopharmaceuticals Inc., InVitria Inc., Novozymes A/S, ViaGen Pets, Taconic Biosciences Inc.

North America was the largest region in the genetically modified animal products market in 2023. The regions covered in the genetically modified animal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the genetically modified animal products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary forms of genetically modified animal products are pellets, crumbles, mash, and meal or cake. Pellets are small, cylindrical-shaped pieces of compressed feed typically crafted from a blend of grains, such as corn and soybeans. Various types of feed may contain genetically modified traits such as herbicide tolerance (HR), insect resistance (IR), and stacked traits (ST). These modifications aim to enhance the efficiency and productivity of animal farming.

The genetically modified animal products market research report is one of a series of new reports that provides genetically modified animal products market statistics, including genetically modified animal products industry global market size, regional shares, competitors with genetically modified animal products market share, detailed genetically modified animal products market segments, market trends, and opportunities, and any further data you may need to thrive in the genetically modified animal products industry. This genetically modified animal products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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