LONDON, 10 Feb. 28, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the GMO testing market, the increase in the production of genetically modified crops is contributing to the growth of the GMO testing market. Genetically modified crops are produced by GM technology which involves inserting new DNA into a plant’s genome and then growing the plant cells in tissue culture to develop into plants. Seeds produced by genetically modified plants will inherit new DNA that provides nutritional enhancement, disease resistance, phytoremediation, and altered cell wall composition for more efficient conversion of biofuels. Rising nutritional demand and stringent GM food safety regulations are driving increased demand for production.
For example, according to the International Service for the Acquisition of Agri-Biotech Applications (ISAAA), the global acreage of biotech or GM crops increased from 17 million hectares in 1996 to 190.4 million hectares in 2019, which indicates a 112-fold increase in the region.
The size of the global GMO testing market is expected to grow from $1.85 billion in 2021 to $2.08 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. Market growth is primarily driven by businesses resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and the closure of business activities which resulted in operational difficulties. The global GMO testing market share is expected to reach $2.91 billion in 2026 at 8.7% CAGR.
Request for a sample of the world GMO testing market report
Technological advancements in agricultural practices are gaining popularity in GMO testing market trends. Cutting-edge technologies for agricultural agriculture include robots, aerial imagery, temperature and humidity sensors, and GPS technology. They will enable farms to be more profitable, safe, efficient and environmentally friendly. Advanced agricultural practices are beneficial for the production of GM crops to meet demand and food security. For example, in November 2020, Telus, a Canadian-based telecommunications company, announced the creation of TELUS Agriculture, a new business unit committed to developing game-changing connected technology solutions for the agricultural sector. TELUS Agriculture improves the food value chain by using data in innovative ways to improve efficiency, production and yields. This process results in better food outcomes for businesses and consumers.
The major players in the GMO testing market are Thermo Fisher Scientific, SGS SA, Bureau Veritas SA, Intertek Group Plc., Eurofins Scientific SE, TÜV SÜD AG, Merieux Nutrisciences Corporation, Bio-Rad Laboratories Inc., ALS Limited, Romer Labs Diagnostic , Microbac Laboratories, AsureQuality Limited, OMIC USA Inc., Monsanto, EMSL Analytical Inc. and FoodChain ID Inc.
The global GMO testing market is segmented by trait into stacking, herbicide tolerance, insect resistance; by technology in polymerase chain reaction (PCR), immunoassay; by type of food processed in bakery and confectionery, meat products, breakfast cereals and snacks, food additives, other; per crop tested in corn, soybean, rapeseed or canola, potato, other.
According to industry analysis of GMO testing, in 2021, Europe was the greater region on the market. North America should be the fastest growing region in the forecast period. Regions covered in the GMO Testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and South America. ‘Africa.
Global GMO Testing Market Report 2020-30: COVID-19 Growth And Change is part of a series of new reports by The Business Research Company that provide GMO testing market insights, analyze the market for GMO Testing and forecast market size and growth for overall market, GMO Testing Market Segments & Geographies, GMO Testing Market Trends, GMO Testing Market Drivers, GMO Testing Market constraints, revenue, profiles and market shares of top GMO Testing Market competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
Not the market you are looking for? To verify some ssimilar Marlet intelligence reports:
Global Genetically Modified Crops Market Report 2021 – By Trait (Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST)), By Crop (Soybean, Cotton, Maize, Rapeseed, Tobacco), Growth COVID-19 and Change
Global Food Pathogen Detection Technology Market Report 2022 – By Technology (Traditional (Quantitative Culture & Qualitative Culture), Rapid (Convenience, Polymerase Chain Reaction & Immunoassay)), By Food Type (Meat & Poultry, Dairy, Processed Foods, Fruits & Vegetables, Cereals & Grains), by Type (E. Coli, Salmonella, Listeria, Campylobacter, Others (Norovirus & Rotavirus) – Global Market Size, Trends & Forecast 2022-2026
Polymerase Chain Reaction (PCR) Devices, Reagents and Uses, Global Market Report 2020 – By Product (Instruments, Reagents, Consumables), By End User (Clinical Diagnostic Laboratories, Hospitals, Academics, Research Organization), by instruments (PCR, RT-PCR, digital PCR standards)
Want to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in business, market and consumer research. Located around the world, it has consultants specializing in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.
The most comprehensive database in the world
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and measures across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess gaps between supply and demand.