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.
Growth of the food & beverage industry is majorly attributed to rising global population, substantially growing demand for food, rise in agricultural activities around the world, and increasing sales of packaged and processed foods. Industry revenue growth is further driven by factors such as surging demand for organic food products, increasing demand for natural food ingredients and additives, and rise in imports & exports of food & beverages worldwide. Technological advancements in food processing and packaging solutions, increasing number of online food delivery businesses, and rising disposable incomes of consumers around the world factors further contributing to the growth of this industry.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
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The report offers a thorough analysis of the regions with regards to production and consumption patterns, supply and demand dynamics, import/export, technological and product advancements, current and emerging trends, consumer demands, consumer behavior shifts, and presence of key market players in each region. The report also covers a comprehensive country-wise analysis to impart better understanding of the scope and growth of the market.
The report projects the growth rate of the leading market segments for the coming years by studying the current market scenario, past performance, demand and supply ratio, production & consumption, revenue, challenges, and growth opportunities in the market. The segmentation given in the study aims to help readers identify promising investment areas and help companies in formulating better business strategies to reach their desired goals.
Key Participants:
Key participants include SGS, Eurofins Scientific, Intertek Group plc, BIO-RAD, BUREAU VERITAS, and IEH Laboratories & Consulting Group, among others.
Further key findings from the report suggest:
- 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
Market Segmentation:
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
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Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
Key questions answered:
- Which of these regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, dominates market share?
- What is the outcome of the COVID-19 Impact Analysis performed in the report?
- What are the revenue estimations for every region in the GMO Testing market?
- What is the current market valuation of each region and the estimated market size by the end of the forecast period?
- What is the projected growth rate of the global GMO Testing market?
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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