global bioengineered food market is expected to increase with an annual
growth rate of ~5% from 2016-2023, according to the report of Occams
Business Research and Consulting Pvt. Ltd. The growth of the global
bioengineered food market is mainly attributed to the increasing number of
] approvals of
bioengineered food in many countries, among other factors.
The report also mentioned, according to
around 92% of the U.S.
load/biotech-crop-annual-update-maize-2016.pdf> corn crops' seeds were
bioengineered in 2015, along with 94% of the
load/biotech-crop-annual-update-soybean-2016.pdf> soybean crops. Canadian
Biotechnology Action Network also reported that in 2015, around 80% of the
corn and 60% of soybeans produced in Canada were bioengineered.
Other key findings in the report include:
* Increasing production of bioengineered food is the key driving
factor that is boosting the growth in the market.
* North America held highest revenue share in 2016.
* Crop type segment held the large revenue share in 2016 due to
increasing production of
crops across the globe.
* Product development is the key strategy adopted by players of
bioengineered food market.