GMO Testing Global Market Report 2024: In-depth Analysis, Market Size, Growth & Trends

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Shedding light on the recent trends and significant milestones in the GMO testing market, the market size has grown exponentially in recent years. It is expected to escalate from $2.33 billion in 2023 to $2.59 billion in 2024, showcasing an impressive compound annual growth rate CAGR of 10.8%. The upsurge during this historic period can be attributed to increased adoption of GMO crops, stringent regulatory compliance, heightened consumer awareness, concerns related to food safety, and increased international trade and exports.

How Will the GMO Testing Market Progress in the Future?

In the forecast period, the GMO testing market size is poised for rapid expansion, expected to reach a staggering $3.83 billion in 2028 at a compound annual growth rate CAGR of 10.3%. This projected growth can be attributed to rising consumer demand for transparency, stricter global trade regulations, stringent traceability requirements, significant regulatory changes, and a comprehensive environmental impact assessment. Prominent trends during the forecast period include advancements in detection technologies, rapid testing solutions, non-food applications, blockchain and digital records, and shifting consumer awareness and preferences.

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What Factors Are Driving the GMO Testing Market?

The GMO testing market's growth is significantly fueled by the increased production of genetically modified crops. These crops are cultivated using GM technology, which involves the integration of new DNA into a plant's genome and propagation of the plant cells in tissue culture to develop mature plants. The seeds produced, inherit the new DNA promising nutritional enhancement, disease resistance, phytoremediation, and altered cell wall composition for more effective biofuel conversion. A noteworthy instance of this trend was observed in October 2023, when according to the United States Department of Agriculture USDA, a US-based government agency, herbicide-tolerant HT soybean acreage increased to 95 percent in 2021, a figure that remained constant in 2023.

Who Are The Key Industry Players in the GMO Testing Market?

Major companies propelling the GMO testing market include globally recognized giants like Thermo Fisher Scientific Inc., SGS S.A., Bureau Veritas SA, Intertek Group PLC, Eurofins Scientific SE, TÜV SÜD AG, Mérieux NutriSciences Corporation, Bio-Rad Laboratories Inc., ALS Limited, Romer Labs Diagnostic Inc., Microbac Laboratories Inc., AsureQuality Limited, OMIC USA Inc., Monsanto Company, EMSL Analytical Inc., FoodChain ID Inc., National Sanitation Foundation International, Genetic ID NA Inc., Symbio Laboratories Pty Ltd., Agilent Technologies Inc., Covance Inc., EnviroLogix Inc., Geneius Laboratories Ltd., Primoris Services Corporation, Qiagen N.V., Neogen Corporation, AsureQuality Pty Limited, Genetic ID Europe AG, Silliker Inc.

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What Are The Emerging Trends in the GMO Testing Market?

Significant industry leaders in the GMO testing market are developing innovative PCR techniques to maintain a competitive edge in the market. A prime example was observed in April 2023 when Bio-Rad Laboratories, Inc., a US-based biotechnology firm, presented an innovation, the ID-Check Speciation Solution, a real-time PCR method for meat speciation. This solution effectively identifies animal species in food, feed, and environmental samples, thus offering a rapid way to verify raw material origins and facilitate effective cleaning processes along the supply chain.

How is the GMO Testing Market Segmented?

The gmo testing market report segments the market as follows -

1 By Trait: Stacked, Herbicide Tolerance, Insect Resistance
2 By Technology: Polymerase Chain Reaction PCR, Immunoassay
3 By Processed Food Types: Bakery and confectionery, Meat products, Breakfast cereals and snacks, Food additives, Other Processed Food
4 By Crop Tested: Corn, Soybean, Rapeseed Or Canola, Potato, Other Crops

Regional Insights: Europe Taking the Lead

In 2023, Europe was the largest region in the GMO testing market. However, North America is predicted to be the fastest-growing region during the forecast period. The GMO testing market report includes multiple regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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