Genetically Modified Food Safety Testing Market Worth 1.99 Billion USD by 2020
PUNE, India, April 11, 2016 /PRNewswire/ --
The report "Genetically Modified Food Safety Testing Market by Trait (Stacked, Herbicide Tolerance, Insect Resistance), Technology (Polymerase Chain Reaction, Immunoassay), Crop & Processed Food Tested, & by Region - Global Trend & Forecast to 2020", The GM Food Safety Testing Market is projected to reach a value of USD 1.99 Billion by 2020, at a CAGR of 7.9% from 2015 to 2020.
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Browse 77 market data Tables and 52 Figures spread through 145 Pages and in-depth TOC on "Genetically Modified Food Safety Testing Market"
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The market is driven by factors such as evolution in farming technologies, diverse GM processed food production, labelling mandates in several countries, and proper nutrient sufficiency.
The stacked trait segment is projected to be the fastest-growing market during the period 2015-2020
Stacked traits are a combination of more than one transgene in a single crop. Biofortified crops which are modified for the production of high nutritional content, HT with IR and disease-resistant traits are popular examples of stacked traits. The increased investments and growth in the R&D activities are responsible for the growth of this market.
Soy, corn, and bakery & confectionery products are largely tested for GMO in the food safety testing market
Among the crops and processed foods tested for GMO, crops accounted for the largest market share in 2014, 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 GM soybean are also largely tested for GMOs.
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North America and EU regions to dominate the GM Food Safety Testing Market in 2015
The European region was the largest market for GM testing for safety in 2014. 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 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 GM 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.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such SGS S.A. (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific SE (Luxembourg), Bio-Rad Laboratories, Inc. (U.S.) Silliker, Inc. (U.S.), Romer Labs Division Holding GmbH (Austria), EMSL Analytical Inc. (U.S.), Genetic ID NA, Inc. (U.S.), OMIC USA Inc. (U.S.), and IFP (Institut fur Produktqualitat GmbH) (Germany).
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 GM Food Safety Testing Market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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