GMO Testing Market Growth Development, Profiled Key Players- rmo Fisher Scientific, Inc., SGS S.A., Bureau Veritas SA, Bureau Veritas SA

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.

Market Dynamics

Drivers

•             Need to Ensure Sufficient Nutrient Consumption

•             Technological Evolution of Farming Practices

•             Diverse Processed Foods Through GM Crops

•             Labeling Mandates in Several Countries

•             High Investment in Biotech R&D

Restraints

•             Lack of Implementation of Regulations

•             Lack of Required Technical Know-How Among Farmers

Opportunities

•             Emerging Markets for GMO Testing

•             Increasing Consumer Awareness About GM Foods

Challenges

•             Ban on the Production of GM Crops

•             Unaffordability of Tests By Manufacturers

•             Inappropriate Sample Collection Standards

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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.

Scope of the Report

On the basis of Trait, the GMO testing market is segmented as follows: 

•             Stacked

•             Herbicide tolerance

•             Insect resistance

On the basis of Technology, the GMO testing market is segmented as follows:

•             Polymerase Chain Reaction (PCR)

•             Immunoassay

On the basis of Crop Tested, the GMO testing market is segmented as follows:

•             Corn

•             Soy

•             Rapeseed/Canola

•             Potato

•             Others (tomato, sugarbeet, and rice)

On the basis of Processed Food Tested, GMO testing market is segmented as follows:

•             Bakery & confectionery

•             Meat & meat products

•             Breakfast cereals & snacks

•             Food additives

•             Other processed food (infant food, dairy products, and processed beverages)

On the basis of Region, the GMO testing market is segmented as follows:

•             North America

•             Europe

•             Asia-Pacific

•             RoW

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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This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such 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), Bio-Rad Laboratories, Inc. (U.S.), ALS Limited (Australia), Mérieux NutriSciences Corporation (U.S.), AsureQuality (New Zealand), Romer Labs Diagnostic GmbH (Austria), and Microbac Laboratories, Inc. (U.S.).

In terms of insights, this research report has focused on various levels of analyses industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global genetically modified food safety testing market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.

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