Global GMO Testing Market
The global GMO Testing market was valued at USD 1.47 billion in 2016 and is projected to reach USD 2.95 billion by 2025, growing at a CAGR of 8.0% from 2017 to 2025.
GMO crop invention has been a breakthrough in the agriculture domain. However, the growing concerns regarding consumption of GMO Crops is expected to boost the usage of GMO Testing services. The introduction of non-GMO and growing concerns surrounding new GMO variants is driving market demand.
1. Market Drivers
1.1 Technological evolution in farming practices
1.2 Diverse processed foods through GM crops
2. Market Restraints
2.1 Slow implementation of regulations
2.2 Lack of technological know-how among farmers
The global GMO Testingmarket is segmented on the trait, technology, crop and processed food, and region.
1. By Trait:
1.1 Herbicide Tolerance
1.3 Insect Resistance
2. By Technology:
2.2 Polymerase Chain Reaction
3. By Crop and Processed Food:
3.2 Processed Food
3.2.1 Confectionery and Bakery
3.2.2 Meat Products and Meat
3.2.3 Snacks and Breakfast Cereals
3.2.4 Food Additives
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
2. Microbac Laboratories
3. SGS SA
4. Bureau Veritas SA
5. Thermo Fisher Scientific
6. Romer Labs Diagnostic GmbH
7. ALS Limited
8. TUV SUD AG
9. Intertek Group PLC
10. Eurofins Scientific SE
11. MerieuxNutrisciences Corporation
12. Bio-Rad Laboratories Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the GMO Testingmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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