PUBLISHER: The Business Research Company | PRODUCT CODE: 1391275
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391275
“GMO Testing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gmo testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gmo testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The gmo testing market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
GMO testing involves the qualification and quantification of genetically modified organisms present in food or feed samples, ensuring compliance with national and international controls. It serves to independently verify products for trade, particularly with countries specifying GMO-free products, and helps prevent cross-contamination throughout the supply chain.
The main types of traits examined in GMO testing are stacked herbicide tolerance and insect resistance. Stacked GMO testing specifically detects genes that are combined into a single crop, involving two or more transgenes of interest. Various technologies, including polymerase chain reaction (PCR) and immunoassay, are employed in this process. GMO testing covers a range of processed food types such as bakery and confectionery items, meat products, breakfast cereals and snacks, food additives, and more. Crops commonly tested include corn, soybean, rapeseed or canola, potato, and others.
The GMO testing market research report is one of a series of new reports from The Business Research Company that provides GMO testing market statistics, including GMO testing industry global market size, regional shares, competitors with a GMO testing market share, detailed GMO testing market segments, market trends and opportunities, and any further data you may need to thrive in the GMO testing industry. This GMO testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The gmo testing market size has grown rapidly in recent years. It will grow from $2.33 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed in the historic period in the field of GMO testing can be attributed to several key factors. These include the increased adoption of genetically modified (GMO) crops, a heightened emphasis on regulatory compliance, growing consumer awareness about GMOs, concerns related to food safety, and the impact of international trade and export requirements. These factors collectively contributed to the demand for GMO testing during the historic period, reflecting the intersection of technological advancements, regulatory landscape changes, and evolving consumer preferences.
The gmo testing market size is expected to see rapid growth in the next few years. It will grow to $3.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the forecast period for GMO testing can be attributed to several factors. These include the increasing consumer demand for transparency in food products, adherence to global trade regulations and traceability requirements, evolving regulatory changes, and a growing emphasis on environmental impact assessment. Major trends expected in the forecast period include the adoption of advanced detection technologies, the implementation of rapid testing solutions, expanding into non-food applications, the integration of blockchain and digital records for enhanced traceability, and a continued focus on consumer awareness and preferences. These trends collectively contribute to the projected growth and evolution of GMO testing practices in the specified period.
The expansion in the production of genetically modified (GMO) crops is playing a pivotal role in the growth of the GMO testing market. Genetically modified crops are generated through GM technology, involving the introduction of new DNA into a plant's genome and subsequent cultivation of plant cells in tissue culture for maturation into plants. Seeds produced by genetically modified plants inherit new DNA, providing benefits such as nutritional enhancement, disease resistance, phytoremediation, and modified cell wall composition for more efficient biofuel conversion. With an upsurge in nutritional demands and increasing stringency in genetically modified food safety regulations, there is a growing need for enhanced production. As per data from the United States Department of Agriculture in October 2023, herbicide-tolerant soybean acreage reached 95 percent in 2021 and maintained this percentage in 2023. Similarly, in 2023, 91 percent of domestic corn acres were planted with herbicide-tolerant seeds, and 89 percent of U.S. cotton acres utilized genetically engineered, insect-resistant seeds. Hence, the heightened production of genetically modified crops is anticipated to drive the growth of the GMO testing market.
The rising instances of food fraud are expected to fuel the expansion of the GMO testing market. Food fraud involves intentionally deceiving consumers by misrepresenting, adulterating, or substituting food products for economic gain. This often includes mislabelling and misrepresentation of GMO content in food products. To counter food fraud and ensure transparency in labeling, food companies and regulatory authorities are increasingly turning to GMO testing to verify the presence or absence of GMOs in food items. According to the Food and Drug Administration in January 2023, food fraud has an annual financial impact of approximately $10 to $15 billion, affecting 1% of the global food industry. Consequently, the growing prevalence of food frauds is propelling the growth of the GMO testing market.
Major players in the GMO testing market are focusing on developing innovative Polymerase Chain Reaction (PCR) techniques to gain a competitive advantage. PCR is a molecular biology laboratory technique used to amplify specific DNA segments. In April 2023, Bio-Rad Laboratories, Inc., a U.S.-based biotechnology company, introduced the ID-Check Speciation Solution, a real-time PCR method for meat speciation. This solution enables the identification of animal species in food, feed, and environmental samples, providing a reliable and rapid means to verify raw material origins and enhance production line cleaning processes. The solution targets mitochondrial DNA from various meat species, including bovine, chicken, duck, goat, horse, sheep, swine, and turkey, exhibiting exceptional sensitivity with the ability to detect as low as 0.001% of species DNA. The kit also features a duplex detection system for added accuracy and ease of use. This strategic focus on advanced PCR techniques enhances the competitiveness of companies in the GMO testing market.
To secure a competitive advantage in the GMO testing market, major companies are actively developing innovative technologies, including herbicide-tolerant trait technology. Herbicide tolerance involves genetically modifying a plant, typically a crop, to make it resistant to specific herbicides. A case in point is the initiative taken by Corteva, Inc., a U.S.-based agricultural chemical company, in February 2023. The company launched Optimum GLY canola, an advanced herbicide-tolerant trait technology tailored for canola farmers. This proprietary glyphosate trait technology delivers enhanced weed control and a broader application window for herbicides, providing farmers with increased flexibility in weed management. Canola, renowned for its protein and oil content, holds significant importance in meeting global food and energy demands.
In December 2021, Merieux NutriSciences, a prominent U.S.-based food safety company, completed the acquisition of Dyad Labs for an undisclosed amount. This strategic move expanded Merieux NutriSciences' service offerings and reinforced its presence in the United States, with a particular focus on the dietary supplements industry. The acquisition strengthened the company's capabilities, enabling it to provide a more extensive range of solutions to the food and nutrition sectors. Dyad Labs, a U.S.-based specialty testing company, specializes in chemistry and microbiology testing for the nutraceutical and food and beverage industries. This acquisition enhances Merieux NutriSciences' position in delivering comprehensive testing services and solutions to its clientele.
Major companies operating in the gmo testing market include Thermo Fisher Scientific Inc., SGS S.A., Bureau Veritas SA, Intertek Group PLC, Eurofins Scientific SE, TUV SUD AG, Merieux NutriSciences Corporation, Bio-Rad Laboratories Inc., ALS Limited, Romer Labs Diagnostic Inc., Microbac Laboratories Inc., AsureQuality Limited, OMIC USA Inc., Monsanto Company, EMSL Analytical Inc., FoodChain ID Inc., National Sanitation Foundation International, Genetic ID NA Inc., Symbio Laboratories Pty Ltd., Agilent Technologies Inc., Covance Inc., EnviroLogix Inc., Geneius Laboratories Ltd., Primoris Services Corporation, Qiagen N.V., Neogen Corporation, AsureQuality Pty Limited, Genetic ID Europe AG, Silliker Inc.
Europe was the largest region in the GMO testing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the GMO testing market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the GMO testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The GMO testing market includes revenues earned by entities by providing testing technologies that are used to detect genetically modified organisms in food or feed. Technologies such as polymerase chain reaction (PCR) and immunoassays are used in GMO testing. The market value includes the value of related goods sold by the service provider or included within the service offering.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.