The influx of cutting-edge technologies together with the growing appeal towards environment-friendly lifestyles will drive the demand for food products using biotechnology. The rapid industrialization has resulted in the dearth of land space for agriculture, hampering the quantity of plant production. There is a growing need to mitigate the instances of food loss while ensuring good quality & safety as well as upgrading the efficiency of food quality management.
Food biotechnology can be referred to as the incorporation of technology in the production, and processing of food items. It deals with food fermentation & brewing and is widely deployed to enhance the genes in processing raw food materials besides the manufacturing of high-quality agricultural products and food additives. It is also associated with biotechnologies like enzyme engineering, and protein engineering as well as the cultivation of plant and animal cells to access food functional ingredients.
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As per a recent research report, the global food biotechnology market size will exceed an annual valuation of USD 45 billion in revenue share by 2025.
Demand for transgenic food biotechnology products
A surge in adoption of transgenic food biotechnology is observed over the years. This can be owed to the rising demand for genetically modified (GM) foods as they are cost-friendly and offer enhanced yields and reliability. These food items are sourced from organisms whose genetic materials are unnaturally modified with the introduction of genes from different organisms. Moreover, genetically modified crops are gaining wide preference as they exhibit resistance against plant diseases and herbicides.
On a further note, genetic modification in food technology is largely deployed to alter the nutrient content of food, enhance the efficiency of food production systems as well as limit the allergenic potential.
Higher scope across animal agriculture
Food biotechnology is witnessing an increasing demand in animal application. This can be attributed to the incursion of various technologies like genetic engineering (GE), genetic modification, recombinant DNA techniques, transgenics, and cloning in animal agriculture. This has resulted in better productivity, and consistency, along with the introduction of new food components, fibers, and medical products. Furthermore, transgenic animals are massively employed in human health applications like biopharmaceuticals as well as in the generation of organs, tissues, and cells for xenotransplantation.
Growth from strategic collaborations
Solution providers in food biotechnology are focusing on company acquisitions, partnerships, and mergers to gain a positive edge over their competitors while widening their footprint across the globe albeit the present COVID-19 pandemic. For instance, BASF SE, in September 2019, acquired Isobionics, a leading aroma biotech firm, and inked a cooperation agreement with Conagen to extend its product base for natural flavor and fragrance ingredients.
Zuchem, Monsanto, Bayer AG, Vilmorin & Cie, ABS Global, BDF Ingredients, AquaBounty Technologies, Camson Bio Technologies Ltd, Dow AgroSciences LLC, Arcadia Biosciences, and Syngenta AG, Evogene Ltd., are few other prominent food biotechnology companies.
However, rising concerns related to food safety and social resistance towards the adverse effects on animal welfare and ecosystems could hamper the industry forecast to some extent.
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