The global GMO testing services market is estimated to reach US$ US$ 4.6 Billion by 2032, with demand increasing at a 7.8% CAGR throughout the forecast period. The GMO testing services industry is estimated to account for around 11% of the food testing services market, which is expected to be worth US$ 20 billion by the end of 2022.
Increased investments and breakthroughs in biotech research are driving the growth of the GMO testing market. GMOs are creatures whose DNA structure has been altered using biotechnology technologies used to generate high-quality food.
Furthermore, in reaction to the implementation of legislative bills such as the GMO labelling law, food manufacturers are having their products confirmed as GMO-free in order to meet the growing demand. As a result, demand for non-GMO products, as well as the necessity for sophisticated technology to analyse next-generation GMO features, will likely drive the global GMO testing market in the future years.
The GMO Testing Services Market is witnessing rapid growth due to increased awareness and regulatory requirements for genetically modified organisms (GMOs) in food and agriculture. With rising concerns about food safety and transparency, demand for reliable GMO testing services is on the rise, paving the way for market expansion.
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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.
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
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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