New FMI Report Explores Impact of COVID-19 Outbreak on Non-GMO Food Products Market
The global non-GMO food products
market is poised to
grow at an exponential 12% CAGR through the forecast period (2019 - 2029).
According to a new study by Future Market Insights (FMI), the market for
non-GMO food products is largely influenced by changes in consumer demand and
easier access to superior farming technologies.
"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.
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.
About the Report
This report offers
global, regional, and national level analysis on the latest trends in the
industry influencing the non-GMO food products market. The study provides
actionable insights on the non-GMO food products market on the basis of product
type (grain and cereals, bakery and confectionary, beverages, dairy products,
infant food, condiments, dressing, and oil, and others), distribution channel
(direct sales/B2B and indirect sales/B2C), across 30 countries spanning seven
key regions (North America, Latin America, Europe, APEJ, Japan, Oceania, and
MEA).
About Future Market
Insights (FMI)
Future Market Insights
(FMI) is a leading provider of market intelligence and consulting services,
serving clients in over 150 countries. FMI is headquartered in London, the global financial capital,
and has delivery centres in the U.S. and India. FMI's latest market research
reports and industry
analysis help businesses navigate challenges and take critical decisions with
confidence and clarity amidst breakneck competition.
Contact:
Abhishek Budholiya
Unit No: AU-01-H Gold
Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
MARKET ACCESS DMCC
Initiative
For Sales Enquiries: sales@futuremarketinsights.com
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