DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "GMO Testing Global Market Report 2023" has been added to ResearchAndMarkets.com's offering.
The global GMO testing market witnessed significant growth, expanding from $2.09 billion in 2022 to $2.32 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The market is expected to continue growing and reach $3.24 billion in 2027 at a CAGR of 8.6%.
Understanding GMO Testing: GMO testing involves the qualification and quantification of genetically modified organisms present in food or feed samples. This testing is essential to meet appropriate national and international controls, ensuring independent verification for trade in GMO-free products and preventing cross-contamination throughout the supply chain.
Regional Insights: Europe emerged as the largest region in the GMO testing market in 2022. North America is expected to be the fastest-growing region during the forecast period. The regions covered in the GMO testing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Types of Traits and Technologies: The main types of traits in GMO testing are stacked herbicide tolerance and insect resistance. Stacked GMO testing detects stacked genes, where two or more transgenes of interest are combined into a single crop. Various technologies, including polymerase chain reaction (PCR) and immunoassay, are used for GMO testing, with applications in processed food types such as bakery and confectionery, meat products, breakfast cereals and snacks, food additives, and others. The crops tested include corn, soybean, rapeseed or canola, potato, and others.
Market Drivers: The increased production of genetically modified crops is a significant driver of the GMO testing market. Genetically modified crops are produced through GM technology, involving the insertion of new DNA into a plant's genome to enhance nutritional value, disease resistance, phytoremediation, and altered cell wall composition for more effective biofuel conversion.
The rising demand for genetically modified food due to increased nutritional requirements and strict safety regulations is contributing to the market's growth. For example, in 2020, 94% of soybeans, 96% of cotton, and 92% of corn grown in the United States were genetically modified organisms (GMOs). The increased production of genetically modified crops is expected to propel the GMO testing market's growth in the future.
Technological Advancements in Farming Practices: One of the key trends gaining popularity in the GMO testing market is technological advancements in farming practices. Advanced farming technologies such as robots, aerial images, temperature and moisture sensors, and GPS technology enable farms to be more profitable, safe, efficient, and environmentally friendly. These advanced practices benefit the production of GM crops to meet the growing demand and ensure food security.
Major Players in the Market:
Key players in the GMO testing market include:
- Thermo Fisher Scientific
- 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
- Microbac Laboratories
- AsureQuality Limited
- OMIC USA Inc.
- Monsanto
- EMSL Analytical Inc.
- FoodChain ID Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hwbtzv
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SOURCE Research and Markets
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