GMO Testing Market Share, Growth, Trends And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global GMO Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The gmo testing market size has grown rapidly in recent years. It will grow from $2.33 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased adoption of gmo crops, regulatory compliance, consumer awareness, food safety concerns, international trade and export.

The gmo testing market size is expected to see rapid growth in the next few years. It will grow to $3.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to consumer demand for transparency, global trade regulations, traceability requirements, regulatory changes, environmental impact assessment. Major trends in the forecast period include advanced detection technologies, rapid testing solutions, non-food applications, blockchain and digital records, consumer awareness and preferences.

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Market Drivers and Trends:

The increased production of genetically modified crops is contributing to the growth of the GMO testing market. Genetically modified crops are produced by GM technology that involves inserting new DNA into a plant's genome and then growing the plant cells in tissue culture to develop into plants. The seeds produced by genetically modified plants will inherit the new DNA that offers nutritional enhancement, disease resistance, phytoremediation, and altered cell wall composition for more effective biofuel conversion. The increase in nutritional demand and the stringency in genetically modified food safety regulations are increasing the demand for more production. For instance, in October 2023, according to United States Department of Agriculture, a US-based government agency, In 2021, herbicide-tolerant (HT) soybean acreage increased to 95 percent, and this percentage remained unchanged in 2023.Additionally, in 2023, 91 percent of domestic corn acres were planted with HT seeds, and 89 percent of U.S. cotton acres utilized genetically engineered, insect-resistant seeds. Therefore, the increased production of genetically modified crops is expected to propel the growth of the GMO testing market going forward.

Major companies operating in GMO testing market are developing new PCR techniques to gain a competitive edge in the market. PCR, or Polymerase Chain Reaction, is a laboratory technique used in molecular biology to make multiple copies of a specific DNA segment. For instance, in April 2023, Bio-Rad Laboratories, Inc., a US-based biotechnology company launched the ID-Check Speciation Solution, a real-time PCR method for meat speciation. This solution enables the identification of the animal species in food, feed, and environmental samples, offering a reliable and rapid way to verify raw material origins and enhance production line cleaning processes. It targets mitochondrial DNA from various meat species, including bovine, chicken, duck, goat, horse, sheep, swine, and turkey, with exceptional sensitivity and the ability to detect as low as 0.001% of the species DNA. The kit also features a duplex detection system for added accuracy and ease of use.

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Major Key Players of the Market:

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.

GMO Testing Market 2024 Key Insights:

• The gmo testing market size is expected to see rapid growth in the next few years. It will grow to $3.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Rising Genetically Modified Crop Production Fuels Gmo Testing Market Growth
• Advancements In Real-Time Pcr Methods Enhance Gmo Testing Capabilities
• Europe was the largest region in the GMO testing market in 2023

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