Non-GMO Food Products Market to reach the value of US$ 144,322 Mn in 2031
January 14, 2022
DUBAI, DUBAI, UNITED ARAB EMIRATES, January 14, 2022 /EINPresswire.com/ -- Newly released data from the non-GMO food products market analyzed by FMI estimates that the non-GMO food products market enjoys a growth rate of 10.4% at present. The market is expected to witness a prominent growth rate of a CAGR of 13.2% to reach the value of US$ 144,322 Mn in 2031.
The worldwide non-GMO food products market will gain traction as consumer demand grows due to changes in dietary trends like healthy eating, opting for natural food products, etc. This change is driven by an increase in the number of health-related issues and raising awareness of the harmful consequences of eating genetically modified foods.
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Rise of smart labels that facilitate instant access to product specific information is another factor that is propelling the growth for transparent non-GMO food manufacturers globally. The market is anticipated to cross a market value of US$ 3.4 Bn 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 labelling technologies such as QR codes and RFID will aid growth," reveals the FMI report.
Key Research Findings of FMI's Non-GMO Food Products Market Study
• Grains and cereals will account for major market demand with a growth rate of 22% through 2029
• Bakery and confectionary 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 account for more than 50% of the overall market value.
Explore the complete non-GMO food products market report with 96 illustrative figures, 84 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11088
Key Growth Drivers - Non-GMO Food Products Market
• Rising purchase potential and lower costs of production play a major role in the growth of the non-GMO food products market.
• Advances in labeling and packaging practices will contribute significantly to the demand.
• Rising consumer awareness and the prevalence of vegan, plant-based diets, will contribute to market growth.
Key Impediments - Non-GMO Food Products Market
• Changes in consumer preferences, and economic conditions to demographic trends is a key challenge to manufacturers active in non-GMO food products market.
• Premium pricing of non-GMO food products is also a major challenge restricting the growth of the industry.
Competition Structure Analysis - Non-GMO Food Products Market
The competition landscape of non-GMO food products market remains moderately fragmented and competitive. Key producers are pushing for establishment of distribution warehouses for effective logistics, in addition to mapping future growth trajectories on the basis of consumer income levels and the penetration of vegan, plant based diets.
Some of the key players in the non-GMO food products market include, but are not limited to Cargill Inc., The Hain Celestial Group Inc., Associated British Foods Plc, Nestle S.A., General Mills Inc., Danone, Kraft Heinz, and Archer Daniels Midland Company.
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