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.
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.
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The GMO Testing market investigation report assesses the global market for the GMO Testing industry and provides revenue and capability forecasts for the projected period of 2020-2027. The factors that drive the industry's growth are highlighted in the report. The report divides the GMO Testing market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
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All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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Some of the Leading Market Players Are Listed Below:
- Eurofins Scientific,
- Intertek Group plc.,
- BUREAU VERITAS
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The GMO Testing market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the GMO Testing market.
The global GMO Testing market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation based on Product Type:
- Herbicide tolerance
- Insect resistance
Market Segmentation based on Crop Type:
- Rapeseed/ Canola
Market Segmentation based on Processed Food Type:
- Bakery confectionery
- Meat products
- Breakfast cereals snacks
- Food additives
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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