GMO Testing Services Market Will Grow at 7.8% CAGR through 2032, Amid Growing Stringency of Labelling Laws - Future Market Insights, Inc

The North America GMO testing services market will grow at a rate of 7.5% during the forecast period 2022 -2032. Use of GMO testing services for meat & meat products to become a lucrative in the coming years. East Asia is emerging as a prominent market for these services.

NEWARK, Del., June 22, 2022 /PRNewswire/ -- The global GMO testing services market is set to witness growth at a CAGR of 7.8% over the forecast period, reaching US$ 4.6 Bn by 2032.

The expansion in the GMO testing market is being fueled by increasing investments and developments in biotech research. GMOs are organisms whose DNA structure has been modified through the use of biotechnology technologies, which are used to produce high-quality food.

Moreover, to cater to the growing demand, food manufacturers are having their products verified as GMO-free as a response to the implementation of legislative bills such as the GMO labelling law. As a result, demand for non-GMO products will likely drive the global GMO testing market in the forthcoming years, as will the need for sophisticated technology to analyze next-generation GMO properties.

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"Increasing production of diverse processed food products using genetically modified crops, as well as technological advancements in modern farming techniques across the globe will provide an impetus to sales in the market over the assessment period," says an FMI analyst.

Key Takeaways:

• The global GMO testing services market is anticipated to reach a valuation of around US$ 2.2 Bn by 2022 end
• The market is segmented based on technology, wherein Polymerase Chain Reaction (PCR) GMO testing services is anticipated to account for around 50% of the market share over the forecast period.
• The North America GMO testing services market is expected to witness a lucrative growth rate of 7.5% during the forecast period.
• Use of GMO testing services for meat & meat products to become a lucrative in the coming years
• East Asia is expected to emerge as a prominent market for GMO testing services market in the forecast period

Competitive Landscape

The global GMO testing market is fragmented, with prominent competitors striving to gain a competitive edge, particularly in developed regions where regulatory compliance is rigorous and public awareness of food authenticity is high. For instance:

• In December 2021, ALS Limited announced the acquisition of MinAnalytical Laboratory Services Australia Pty Ltd, a Geochemistry testing company to expand their operations in Australia.

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Leading Companies Profiled in GMO Testing Services Market are

• Interrtek
• SGS SA
• Eurofins
• ALS Limited
• Thermo Fisher Scientific, Inc.
• TÜV SÜD AG
• Merieux Nutrisciences
• Bio-Rad Laboratories
• Microbac Laboratories
• OMIC
• Others

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global GMO testing services market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on technology (ELISA test, polymerase chain reaction (PCR) and lateral flow devices (LFD)), crop type (corn, rapeseed/canola, soy, potato, tomato, and other crops), trait (herbicide tolerance, stacked and insect resistance), food type (meat & meat products, food additives, bakery & confectionery, breakfast cereals & snacks, infant food and others), across seven major regions of the world.

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GMO Testing Services Market by Category

By Technology:

• ELISA Test
• Polymerase Chain Reaction (PCR)
• Lateral Flow Devices (LFD)

By Crop Type:

• Corn
• Rapeseed/Canola
• Soy
• Potato
• Tomato
• Other Crops

By Trait:

• Herbicide tolerance
• Stacked
• Insect resistance

By Food Type:

• Meat & meat products
• Food additives
• Bakery & confectionery
• Breakfast cereals & snacks
• Infant food
• Others

By Region:

• North America
• Latin America
• Europe
• Middle east and Africa
• East Asia
• South Asia
• Oceania

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SOURCE Future Market Insights