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GMO Testing Market Key Players Analysis, Opportunities, Regional Trends And Industry Forecast 2028

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GMO Testing Market Key Players Analysis, Opportunities, Regional Trends And Industry Forecast 2028

September 13
18:24 2021
GMO Testing Market Key Players Analysis, Opportunities, Regional Trends And Industry Forecast 2028
GMO Testing Market
Need to ensure sufficient nutrient consumption, labeling mandates in several countries, high investment in biotech R&D and technological evolution of farming practice are key factors contributing to high CAGR of GMO Testing during forecast period.

According to the current analysis of Reports and Data, the global GMO Testing market was valued at USD 1,941.0 Million in 2020 and is expected to reach USD 3,533.5 Million by 2028, at a CAGR of 7.7%. Genetically modified crops are produced by alteration of the genetic material of the plant model using biotechnology, resistant to pest, bacteria, viruses, bacteria, etc. The invention of GM crops has been a breakthrough in the agriculture sector. With the latest technological advancements, GMO testing can be done in order to determine the amount of GMO present in any sample. The most common methods used for GMO testing are DNA analysis and protein analysis. The methods are followed by applying controls that eliminate false positives and negatives. GMO testing should be routinely done to prevent cross-contamination where unintentionally GM crops enter non-GM food production. GMO testing ensures the safe consumption of GMO as well as adds up to the value of the farmers. The technological evolution of the farming practices and diverse processed foods through GMO crops drive the growth of the global GMO testing market. However, slow implementation of regulations and lack of technologically skilled workforce hinders the overall growth at a global level.

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The primary driving force in the Global GMO Testing Market is the intensifying regulatory framework regarding the safety of genetically modified food. Rising cognizance and awareness about health risks and concerns among consumers are probing the sales of GMO testing kits, worldwide. The implementation of legislative bills such as GMO labeling law, etc. is driving the food companies to get their products verified as GMO-free to meet consumer demand. Consequently, demand for non-GMO as well as an emerging need for advanced technology to test next-generation GM output traits is expected to escalate the Global GMO Testing Market.

The anticipated tremendous growth in the market can be attributed to the increasing demand for food companies to mention genetically modified food ingredients in their products along with the application of GM food in various industries such as processed food and ethanol production. Moreover, rising awareness consumers about genetically modified crops and increasing varieties of GM crops is further anticipated to fuel growth.

European region dominated the market. Major factors attributing to the huge share of the market are stringent regulatory affairs for GMO testing and the consumer`s disapproval towards the GM foods. European countries like Germany, U.K., Spain, and France are the major countries in the European region accounting for a major share of the market in 2018.

Key participants include SGS, Eurofins Scientific, Intertek Group plc, BIO-RAD, BUREAU VERITAS, and IEH Laboratories & Consulting Group, among others.

For the purpose of this study, Reports and Data have segmented the GMO Testing market on the basis of trait, crop type, processed food type, technology, and region:

Trait (Revenue, USD Million; 2018–2028)

  • Stacked
  • Herbicide tolerance
  • Insect resistance

    Crop Type (Revenue, USD Million; 2018–2028)

  • Corn
  • Soy
  • Rapeseed/Canola
  • Potato
  • Others

    Processed Food Type (Revenue, USD Million; 2018–2028)

  • Bakery & confectionery
  • Meat products
  • Breakfast cereals & snacks
  • Food additives
  • Others

    Technology (Revenue, USD Million; 2018–2028)

  • Polymerase Chain Reaction (PCR)
  • Immunoassay

    Regional Outlook (Revenue in USD Million; 2018–2028)

  • Polymerase chain reaction test dominates the technology type segment and is also expected to grow at the fastest rate of 8.6% during the forecast period. The test qualifies and quantifies genetically modified organisms present in food or feed samples
  • Based on the trait, the stacked segment is expected to witness the fastest growth market at a CAGR of 8.7%. Stacked traits combine two or more transgenes in a single crop. Growing research and development activities in the region are expected to drive the growth for this segment.
  • Corn is one of the most popular crops that is grown around the world and has over 142 varieties of genetically modified corn, which makes it one of the most important crops to be tested. Most of the
  • With the applicability of genetically modified food safety testing and focus on achieving greater profits, several food manufacturers are willing to spend on genetically modified food safety testing services to enhance the salability of products
  • Polymerase chain reaction test dominates the technology type segment and is also expected to grow at the fastest rate of 8.6% during the forecast period. The test qualifies and quantifies genetically modified organisms present in food or feed samples
  • Europe regional segment dominates the global GMO market with 42.1% market share owing to stringent regulations regarding GMO testing in the region
  • North America is projected to register the highest CAGR of 8.8%. North America is the largest producer of GM crops.
  • Ban on the production of GM crops in some regions and unaffordability of tests by food manufacturers & channel members are major challenges for the market growth across the globe

    To know more about the report @ https://www.reportsanddata.com/report-detail/gmo-testing-market

    Key insights presented in the report:

  • Market revenue shares by major business players, by type, application, and market scope of global GMO Testing market
  • Sales revenue by key players and new entrants
  • Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
  • Recent mergers, acquisitions, product launches, recent investments, and joint ventures
  • Regional analysis to provide insight into recent trends and opportunities.

    Table Of content:

    Chapter 1. Market Synopsis

    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

    Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020 – 2028

    Chapter 3. Indicative Metrics

    3.1. Need to ensure sufficient nutrient consumption
    3.2. Technologically advanced farming practices
    3.3. Diverse processed foods obtained from GM crops

    Chapter 4. GMO Testing Segmentation & Impact Analysis

    4.1. GMO Testing Segmentation Analysis
    4.2. GMO Testing Market Value Chain Analysis
    4.3. Regulatory framework
    4.4. GMO Testing Market Impact Analysis
    4.4.1. Market driver analysis
    4.4.1.1. Labeling mandates in several countries
    4.4.1.2. Increasing investment in biotech industry

    Continued…

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    About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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