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
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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.
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
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.
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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
Frequently Asked Questions
- How much is the GMO testing services market currently worth?
- What is the growth rate of the GMO testing services market over the forecast period?
- What is the anticipated market value of the GMO testing services market by 2032 end?
- Which region is expected to drive the GMO testing services market over the forecast period?
- Who are the key players in the GMO testing services market?
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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