North America GMO testing market is projected to reach $ 911 million by 2024
LONDON, April 22, 2019 /PRNewswire/ -- North America GMO Testing Market By Technology (Genetic Analysis & Immuno-Analysis), By Crop Type (Corn, Soybean & Others), By Food Type (Breakfast Cereals & Snacks, Bakery & Confectionery & Others), By Trait, By Country, Competition, Forecast & Opportunities, 2024
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North America GMO Testing Market Overview
North America GMO testing market is projected to reach $ 911 million by 2024 from $ 620 million in 2018, exhibiting a CAGR of over 6.7%. Anticipated growth in the market can be attributed to increasing demand for food companies to mention genetically modified food ingredients in their products along with application of GM food in various industries such as processed food and ethanol production. Moreover, rising awareness consumers about genetically modified crops and increasing varieties of GM crops is further anticipated to fuel growth in North America GMO testing market through 2024.
North America GMO Testing Market Segmentation
North America GMO testing market can be categorized based on technology, crop type, food type, trait and country.Based on crop type, the market is segmented into corn, soyabean, canola/rapeseed, potato and others.
Corn accounted for the majority share in North America GMO testing market and is anticipated to continue its dominance during forecast period as well, as 95% of the total corn grown in the region is genetically engineered and is tested by various methods to quantify the presence of genetically engineered DNA.
North America GMO Testing Market Regional Segmentation
North America GMO testing market has been segmented into US, Canada, and Mexico. United States GMO testing market is leading North America GMO testing market and is expected to maintain its position during forecast period as well owing to increasing demand for genetically modified crops and growth of processed food industry in the country.
Competitive Landscape
Some of the leading companies operating in North America GMO testing market are SGS SA, Eurofins Scientific, Intertek Group Plc, Bio-Rad, Bureau Veritas, IEH Laboratories & Consulting Group, Merieux Nutrisciences, Microbac Laboratories, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast North America GMO testing market size.
• To forecast North America GMO testing market based on technology, crop type, food type, trait, country and company.
• To identify drivers and challenges for North America GMO testing market.
• To identify and analyze the profile of leading players in North America GMO Testing.
Some of the leading players in North America GMO testing market are SGS SA, Eurofins Scientific, Intertek Group Plc, Bio-Rad, Bureau Veritas, IEH Laboratories & Consulting Group, Merieux NutriSciences, Microbac Laboratories, Inc., OMIC USA, and Thermo Fisher Scientific, Inc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading GMO Testing companies across North America.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the GMO Testing companies which could not be identified due to the limitations of secondary research. The analyst analyzed the food companies and presence of all major players operating in North America GMO testing market.
The analyst calculated North America GMO testing market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of food companies providing samples for GMO testing, to arrive at the overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• GMO testing manufacturers and suppliers
• Government and other regulatory bodies
• Research institutes and organizations
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, North America GMO testing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Technology:
o Genetic Analysis
o Immuno-Analysis
• Market, by Crop Type:
o Corn
o Soybean
o Canola/Rapeseed
o Potato
o Others
• Market, by Food Type:
o Bakery & Confectionery
o Meat & Meat Products
o Breakfast Cereals & Snacks
o Food Additives
o Other Processed Food
• Market, by Trait Type:
o Stacked
o Herbicide Tolerance
o Insect Resistance
• Market, by Country Type:
o USA
o Canada
o Mexico
• By Company:
o SGS SA
o Eurofins Scientific
o Intertek Group Plc
o BIO-RAD
o Others
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in North America GMO testing market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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