GMO testing market
The increasing demand for fresh and premium food products from consumers has led to the initiation of food safety practices in the food industry, which is driving the demand for GMO testing and driving the growth of market revenues.
The size of the GMO testing market was valued at $ 1.99 billion in 2020 and is expected to reach $ 3.70 billion by 2028, growing at a CAGR of 8.05% from 2021 to 2028.
Most countries have laws governing the cultivation, use and labeling of genetically modified organisms (GMOs). However, these rules are not universally followed. While the United States has a voluntary labeling system for GMOs in food products, the European Union (EU) has very strict restrictions on the authorization, production and use of GM crops, including a mandatory labeling system. The vast majority of relevant GM crops on the market are transgenic species because they contain artificially inserted genetic material that does not exist in their natural gene pool.
This Genetically Modified Organism Testing Market report provides a cumulative summary of speculation about this company, overall, along with an assessment of its segmentation. He predicts that the GMO testing market will become one of the most profitable verticals, generating huge revenues by the end of the forecast years, showing a significant growth rate over the calculated period.
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The report covers an in-depth analysis of the major market players in the market, along with their business overview, expansion plans, and strategies. The major players studied in the report include:
Thermo Fisher Scientific Inc., SGS SA, Bureau Veritas SA, Intertek Group Plc., Eurofins Scientific SE, TÜV SÜD AG, Bio-Rad Laboratories Inc., ALS Limited, Mérieux NutriSciences Corporation, AsureQuality
Segmentation of the GMO testing market:
GMO Testing Market, By Technology
• Polymerase chain reaction
GMO Testing Market, By Crop and Processed Food
• Processed foods
GMO Testing Market, By Trait
• Tolerance to herbicides
• Insect resistance
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COVID-19 impact assessment
The COVID-19 pandemic has emerged in containment across regions, line limitations and the breakdown of transport organizations. In addition, the market for GMO testing is much higher than past outbreaks such as extreme intense respiratory state (SARS), avian flu, swine flu, avian flu and Ebola, inferable from the growing number of infected individuals and vulnerability about the arrival. of the crisis. With the rapid increase in cases, GMO testing around the world is being influenced from several points of view.
Accessibility of the workforce is disrupting the inventory network of the global GMO testing market in every way, as lockdown and the spread of infection cause individuals to stay indoors. The presentation of GMO testers and the transport of products are associated. If the assembly movement is stopped, the transport as well as the warehouse network also stop. Stacking and dumping of items i.e. raw materials and results (fasteners), which requires a ton of labor, is also heavily affected due to the pandemic. From the entrance of the assembly plant to the warehouse or distribution center to end customers, i.e. application companies, the entire inventory network of GMO tests is seriously compromised because of the episode.
Report attribute and details
>> Market size available for years – 2021 – 2027
>> The base year considered – 2020
>> Historical data – 2017 – 2019
>> Forecast period: 2021 – 2028
>> Segments Covered: By Technology, By Crop & Processed Foods, By Trait, And More.
>> Regional scope: North America, Europe, Asia
Analysis of the GMO testing market:
– North America (USA, Canada, Mexico)
– Europe (Great Britain, France, Germany, Spain, Italy, Central and Eastern Europe, CIS)
– Asia-Pacific (China, Japan, South Korea, ASEAN, India, rest of Asia-Pacific)
– Latin America (Brazil, rest of LA)
– Middle East and Africa (Turkey, CCG, rest of Middle East)
Identify the basic business drivers, challenges and tactics adopted:
• The report provides intrinsic details and fluctuating aspects influencing the business dynamics of the GMO Testing market as well as integral drivers of increasing demand for the product have been mapped in vital geographic regions.
• An overview of the multiple applications, fields of activity and the latest trends observed in the industry has been presented by this study.
• Various challenges facing the company and the many strategies employed by industry players for successful commercialization of the product were also illustrated.
• Research inspects the sales channels (indirect, direct, marketing) that companies have chosen for major product distributors and top customer base in the market.
Key questions answered in the report:
• What is the growth potential of the GMO testing market?
• Which product segment will take the lion’s share?
• Which regional market will emerge as a pioneer in the years to come?
• Which application segment will experience strong growth?
• What growth opportunities might arise in the GMO testing industry in the years to come?
• What are the most important challenges that the GMO testing market could face in the future?
• Who are the leading companies in GMO testing?
• What are the main trends that positively impact the growth of the market?
• What growth strategies are the players considering to stay in the GMO Test?
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Miss Illy d’souza
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