(MENAFN- MarketersMEDIA) 2019 Analysis and Review Non-GMO Food Products Market by Distribution Channel - Direct Sales and Indirect Sales for 2019 - 2029
Dubai, United Arab Emirates - April 7, 2021 /MarketersMedia/ —
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.
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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.
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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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Contact Info:
Name: Abhishek Budholiya
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Organization: Future Market Insights
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Source: MarketersMedia
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