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. With the latest technological advancements, GMO testing
can be done in order to determine the amount of GMO present in any sample.
The competitive landscape and
company profiles offered in the report examine the key players in the GMO
Testing market. The competitive analysis scrutinizes strategic initiatives adopted
by key players and evaluates recent developments and market standing of the
companies. The company profiles include data of established players and new
entrants and are examined by using analytical tools like SWOT Analysis.
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Key Players:
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
- 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
- Europe regional segment dominates
the global GMO market with 42.1% market share owing to stringent
regulations regarding GMO testing in the region
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Market
Segmentation:
Trait (Revenue, USD
Million; 2018–2028)
- Stacked
- Herbicide tolerance
- Insect resistance
Crop Type (Revenue, USD
Million; 2018–2028)
- Corn
- Soy
- Rapeseed/Canola
- Potato
- Others
Processed Food Type
(Revenue, USD Million; 2018–2028)
- Bakery & confectionery
- Meat products
- Breakfast cereals & snacks
- Food additives
- Others
Technology (Revenue,
USD Million; 2018–2028)
- Polymerase Chain Reaction (PCR)
- Immunoassay
Regional Outlook
(Revenue in USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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Key questions answered:
·
Which
of these regions – North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa, dominates market share?
·
What
is the outcome of the COVID-19 Impact Analysis performed in the report?
·
What
are the revenue estimations for every region in the GMO Testing market?
·
What
is the current market valuation of each region and the estimated market size by
the end of the forecast period?
·
What
is the projected growth rate of the global GMO Testing 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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