Global Non-GMO Foods Market 2017-2021
About Non-GMO Foods
The global non-GMO foods market is growing at a steady pace. The increase in the number of health-conscious people and increasing demand for non-GMO food products by middle class families are the primary reasons for the growth of the market. The rising demand for organic food products has also increased the demand for non-GMO food products from consumers. However, premium pricing of non-GMO food products is expected to act as one of the major barriers for the growth of the global non-GMO foods market. The increased adoption of non-GMO seeds by farmers and the growing number of food companies in the non-GMO food sector are expected to fuel the global non-GMO foods market positively during the forecast period.
Technavio’s analysts forecast the global non-GMO foods market to grow at a CAGR of 16.23% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global non-GMO foods market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of haircare products to individual consumers and salons.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Non-GMO Foods Market 2017-2021
Technavio recognizes the following companies as the key players in the global non-GMO foods market: Amy's Kitchen, Hain Celestial, Nature's Path Foods, and Organic Valley.
Other Prominent Vendors in the market are: Albert's Organics, Beijing Green Yard Development, Chiquita Brands, Shanghai Food, Shanghai Green Life Agri-Tech Company, United Natural Foods, Vert Living Natural Market, and YMT Organic Farm.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is new non-GMO certification alternatives. One of the major trends emerging in the global non-GMO foods market is the emergence of various non-GMO certification alternatives other than the Non-GMO Project certification. In 2013, Natural Food Certifiers launched new non-GMO product verification program called GMO Guard. It is offering the certification as a more cost-effective proposition than the Non-GMO Project. In 2015, USDA's Agricultural Marketing Service used its Process Verified Program to develop testing and verification process to confirm that the products developed by any company are not genetically modified. Products verified by Agricultural Marketing Service bear the red, white, and blue USDA Process Verified shield. In September 2015, NSF International launched its NSF Non-GMO True North certification, and it is offered in addition to Non-GMO Project verification. The certification utilizes global and domestic GMO labeling regulations such as EU and Vermont GMO labeling requirements.”
According to the report, one driver in market is new product launches. Another growth driver of the market is the new product launches by the players in the market. The players are coming up with new non-GMO food products due to the increasing demand for non-GMO food products among the consumers. It is estimated that there are about 2,000 new non-GMO product launches in the US every year, and it is expected to increase during the forecast period. La Brea Bakery, Los Angeles, which is a small baking company, has announced that all the ingredients used by it for making bread will be non-GMO by the end of 2016. In December 2015, Flavorchem Corp introduced new line of non-GMO Project verified flavors such as cocoa, coffee, orange, lime, peppermint, and lemon. In August 2015, Kashi launched new breakfast line consisting of five products and the products are organic and Non-GMO Project verified. The new line is aimed at providing a new approach of healthy breakfast eating to the consumers with blended wholegrains, sprouts, nut, and seeds.
Further, the report states that one challenge in market is premium pricing. Premium pricing of non-GMO grocery and food products is acting as one of the major growth barrier for the global non-GMO foods market. Though there is a rise in the global health-conscious population, the purchasing decision for non-GMO foods is often based on price. It is estimated that more than 65% of all primary grocery shoppers were not willing to pay a higher price for non-GMO foods, whereas only 11% of other primary grocery shoppers were willing to pay more. More than half of the US consumers have some level of concern about GMO foods, but when asked about it, many primary grocery shoppers were unclear. This may be a reason for their unwillingness to pay a higher price for non-GMO foods. It is expected that 4 out of 10 primary grocery shoppers either feel that they buy non-GMO foods most of the time while the same ratio of consumers is not sure.
Amy's Kitchen, Hain Celestial, Nature's Path Foods, Organic Valley, Albert's Organics, Beijing Green Yard Development, Chiquita Brands, Shanghai Food, Shanghai Green Life Agri-Tech Company, United Natural Foods, Vert Living Natural Market, YMT Organic Farm.
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