Market Size – USD 1,941.0 Million in 2020, Market Growth – CAGR of 7.7%, Market Trends – Use of GM crops for manufacturing of processed foods
NEW YORK CITY, NEW YORK, USA, September 5, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global GMO Testing Market was valued at USD 1,941.0 Million in 2020 and is expected to reach USD 3,533.5 Million by 2028, at a CAGR of 7.7%. Genetically modified crops are produced by alteration of the genetic material of the plant model using biotechnology, resistant to pest, bacteria, viruses, bacteria, etc. The invention of GM crops has been a breakthrough in the agriculture sector.
This report on the GMO Testing market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the GMO Testing market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period.
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Key participants include SGS, Eurofins Scientific, Intertek Group plc, BIO-RAD, BUREAU VERITAS, and IEH Laboratories & Consulting Group, among others.
Further key findings from the report suggest:
• Polymerase chain reaction test dominates the technology type segment and is also expected to grow at the fastest rate of 8.6% during the forecast period. The test qualifies and quantifies genetically modified organisms present in food or feed samples
• Based on the trait, the stacked segment is expected to witness the fastest growth market at a CAGR of 8.7%. Stacked traits combine two or more transgenes in a single crop. Growing research and development activities in the region are expected to drive the growth for this segment.
• Corn is one of the most popular crops that is grown around the world and has over 142 varieties of genetically modified corn, which makes it one of the most important crops to be tested. Most of the
• With the applicability of genetically modified food safety testing and focus on achieving greater profits, several food manufacturers are willing to spend on genetically modified food safety testing services to enhance the salability of products
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Trait (Revenue, USD Million; 2018–2028)
• Herbicide tolerance
• Insect resistance
Crop Type (Revenue, USD Million; 2018–2028)
Processed Food Type (Revenue, USD Million; 2018–2028)
• Bakery & confectionery
• Meat products
• Breakfast cereals & snacks
• Food additives
Technology (Revenue, USD Million; 2018–2028)
• Polymerase Chain Reaction (PCR)
Regional Outlook (Revenue in USD Million; 2018–2028)
• North America
o Rest of the Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Identifying the basic business drivers, challenges, and tactics adopted:
• The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the GMO Testing market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
• An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
• Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
• The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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