Global GMO Testing Market Overview:
GMO Testing that is the testing of genetically modified organisms is refer as detection of GMO in food or feed, which is possible by biochemical means. It can either be qualitative in which it shows genetically modified organism (GMO) is present, or quantitative that means measuring in which amount a certain GMO is present. Most important part of GMO is being able to detect, as without detection methods the trace-ability of GMOs would rely solely on documentation.
As per latest study released by AMA Research, the Global GMO Testing market is expected to see growth rate of 4.8%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Growth Drivers:
Need to Ensure Sufficient Nutrient Consumption, Technological Evolution of Farming Practices, Diverse Processed Foods Through GM Crops, Labeling Mandates in Several Countries and High Investment in Biotech R&D
Challenges:
Ban on the Production of GM Crops, Unaffordability of Tests By Manufacturers and Inappropriate Sample Collection Standards
Restraints:
Lack of Implementation of Regulations and Lack of Required Technical Know-How Among Farmers
Opportunities:
Emerging Markets for GMO Testing and Increasing Consumer Awareness About GM Foods
Competitive Landscape:
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies.
Some of the key players profiled in the report are Thermo Fisher Scientific, Inc. (United States), SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (United Kingdom), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), Bio-Rad Laboratories, Inc. (United States), Mérieux NutriSciences Corporation (United States), EMSL Analytical Inc. (United States) and Microbac Laboratories, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Genetic ID NA, Inc. (United States) and OMIC USA Inc. (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global GMO Testing market by 2030. Considering Market by Crop Tested, the sub-segment i.e. Corn will boost the GMO Testing market. Considering Market by Technology, the sub-segment i.e. Polymerase Chain Reaction (PCR) will boost the GMO Testing market. Considering Market by Trait, the sub-segment i.e. Stacked will boost the GMO Testing market. Considering Market by Processed Food, the sub-segment i.e. Bakery & confectionery will boost the GMO Testing market.
Latest Market Insights:
On April 12, 2023, Neogen Corporation, a leading provider of food and animal safety products, launched its new Reveal® Q+ MAX for GMO testing. This new product is a multiplex PCR assay that can detect up to five different GMO targets in a single test, including corn, soybeans, cotton, canola, and alfalfa.
What Can be Explored with the GMO Testing Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global GMO Testing Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in GMO Testing
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global GMO Testing market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in GMO Testing market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Food manufacturers, Distributors of genetically modified crops, Genetically modified ingredient manufacturers and Regulatory authorities.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.