Genetically Modified Food Safety Testing Market Size Report, Trend, COVID19 Impact, Industry Outlook, Derive Growth, Share, Revenue Forecast to 2027

The global genetically modified food safety testing market size is predicted to expand rapidly in the next decade owing to the skyrocketing demand for food worldwide, finds Fortune Business Insights™ in its report, titled “Genetically Modified Food Safety Testing Market Size, Share & Industry Analysis, By Food Type (Crops, [Soybean, Canola, Corn, Potato, Cotton, Others], Processed Foods [Bakery Products, Dairy Products, Meat & Poultry] Others) and Regional Forecast, 2020-2027”. The global population is increasing at an astronomical pace. According to the United Nations (UN), world population will grow by 2.3 billion, or 33%, between 2009 and 2050. The food and nutritional requirements of this exponentially rising population are expected to increase proportionately. For example, the UN Food and Agriculture Organization (FAO) estimates that to feed 9.1 billion people by 2050, overall food production will need to rise by 70%, while in developing countries it will need to increase by almost 200%. Since land resources are limited, scientists have been developing genetically-modified (GM) crops and seeds to boost agricultural production. However, these crops need to be sufficiently tested to approve them for human consumption, which can be achieved through genetically modified food safety testing solutions, tools, and techniques.
Highlights of the Report:
• Comprehensive understanding of the industry trends and outlook;
• In-depth analysis of the market drivers and restraints;
• Detailed study of the market segments; and
• Exhaustive research into the regional and competitive dynamics shaping the market.

Market Driver
Heightening Food Insecurity amid COVID-19 to Stoke Demand for GM Crops
The COVID-19 pandemic may prove to be a boon for the genetically modified food safety testing market growth as the pandemic has reiterated the need for enhanced agricultural innovation. These innovations are necessary because the world is currently staring at a looming food insecurity crisis, which is expected to leave large swathes of people hungry and nutrition-starved. Estimates released by the FAO highlight the possibility of the coronavirus rendering over 100 million people worldwide hungry in addition to the 690 million already going hungry currently. Furthermore, around 135 million people will be pushed into acute food insecurity by the pandemic. The root cause for these drastic events is the measures undertaken across the globe to contain the spread of the virus. For example, the World Bank recently reported that in Afghanistan, social distancing measures have disrupted sowing activities and the supply shortage thus created has skyrocketed food prices in urban areas. GM crops can prove to be a critical factor in not only increasing crop production but also ensuring efficient access to food in poverty-stricken regions during these troubled times.
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Regional Insights
Booming Demand for Processed Foods to Aid the Market in North America & Europe
North America and Europe are expected to lead the genetically modified food safety testing market share in the coming years owing to the high demand for processed GM food products in these regions. Moreover, rising awareness about the health benefits associated with these foodstuffs will further propel the market. Another key factor favoring the GM food safety testing market is the stringent regulatory norms governing the safety levels of GM crops and the accurate display of nutrition information on packaged foods.
Asia Pacific is anticipated to generate attractive opportunities for market players on account of the vast potential of agriculture in the region. Countries in this region are heavily dependent on agriculture for feeding their huge populations and have been actively utilizing GM seeds to boost agricultural production. Furthermore, farmers in the region are also rapidly adopting crop innovations to increase their incomes, which will contribute to the regional market growth.

Competitive Landscape
Intensive & Extensive Research by Key Players to Support Innovation
Key players in this market are engaged in conducting intensive and extensive research to breach the frontiers of innovation in the GM food safety domain. These activities are crucial as companies are exploring avenues to capitalize the growing demand for GM foods as well as aid the global battle against hunger and starvation.
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Industry Developments:
• June 2020: A study conducted by the Cornell University’s Department of Global Development found that farmers in Bangladesh enjoyed substantially higher yields, nearly 19.6% more, by growing genetically-modified, insect-resistant eggplants.
• March 2020: The US Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), and US Department of Agriculture (USDA) launched an initiative called “Feed Your Mind” to educate consumers about GM organisms (GMOs) about their safety quotient, their production processes, and their health standards.
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List of Key Players Covered in the Genetically Modified Food Safety Testing Market Report:
• Microbac Laboratories, Inc.
• Arbro Pharmaceuticals Pvt. Ltd.
• Thermo Fisher Scientific, Inc.
• Eurofins Scientific SE
• Intertek Group Plc
• Romer Labs Division Holdings, GmbH
• Bureau Veritas S.A.
• TUV SUD AG
• SGS S.A.

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