- The genetically modified organism food market has increased in recent years because of the nutritional value those items offer, according to Research Nester.
- The market research firm predicted the global GMO food market will rise at a compound annual growth rate of 3.2% by the end of 2021.
- It’s also expected that production of GMO crops will grow from 112 million tons in 2015 to approximately 130 tons by 2021.
Despite the growth GMO foods have seen in recent years, analysts say there’s still a long way to go until they become the norm. Controversy surrounding GMOs may keep the ingredients from ever becoming the default go-to — especially considering that in the next few years, all products containing GMOs will be specifically labeled.
Domestic demand for non-GMO and organic products continues to outpace supply, leaving manufacturers to struggle with sourcing these ingredients.
People also have concerns about the safety of consuming GMO crops. The NPD Group released a report last year that showed while most U.S. consumers are informed about genetically modified organisms and their benefits in food production, 76% give pause on consuming them.
In the U.S, 86% of corn, 93% of soybean and 90% of cotton are genetically engineered, according to the report.
Currently, there are 64 countries around the world that require GMO label on the food products. The U.S. law was signed in July, and is slated to go into effect in 2018.