Market Leaders in GMO Testing Market

The GMO testing market is estimated to be valued at USD 1.58 Billion in 2017. It is projected to grow at a CAGR of 8.2% from 2017 to 2022, to reach 2.34 Billion by 2022. The base year considered for the study is 2016, and the forecast years are from 2017 to 2022. The market is driven by factors such as evolution in farming technologies, diverse genetically modified processed food production, labeling mandates in several countries, and proper nutrient sufficiency.

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The key market players adopted strategies such as expansions & investments, acquisitions, new product services & technology launches, and agreements, collaborations, and partnerships to meet the growing demand for safety testing for GM foods. Companies largely adopted strategies such as expansions and investments to expand their facilities and production capacities, to increase their capital, and to cater to the needs of the industry. Leading players have also been focusing on strengthening their strategic positions by implementing new technology and service development as a strategy to discover new advanced processes in the areas of food testing.

Key players identified in the GMO testing market include Thermo Fisher Scientific, Inc. (U.S.), SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (U.K.), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), and Bio-Rad Laboratories, Inc. (U.S.). Other players such as ALS Limited (Australia), Mérieux NutriSciences Corporation (U.S.), AsureQuality (New Zealand), Romer Labs Diagnostic GmbH (Austria), and Microbac Laboratories, Inc. (U.S.) also have a strong presence in the global market.

Among the crops and processed foods tested for GMO, crops accounted for the largest market share in 2016, dominated by corn and soy. The bakery & confectionery items are largely tested for GMO testing, which include baking flours, breads, cakes, muffins, and other confectionery & baked goods. The market in breakfast cereals & snacks among processed foods is projected to grow at the highest CAGR due to the presence of a large amount of cereal grains and corn flakes. Food additives such as lecithin, vitamin E (tocopherol), and proteins from genetically modified soybean are also largely tested for GMOs.

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The European region is the largest market for GMO testing in 2016. Countries such as Germany, France, Italy, Spain, the U.K., and other EU countries are major importers of soy, corn, canola, and other crops and processed foods. The countries in the EU are stringent in GMO regulations, which in turn results in vigorous testing of GMO for safety. North America is the major exporter of soy, corn & canola to the world which requires the conduction of tests for GMO labeling according to the importing country mandates. Brazil and Argentina are also the active countries for genetically modified food testing for safety. Asia-Pacific countries are at the growth stage in this market. China is the major country followed by Japan, Korea, and Rest of Asia-Pacific.

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