Northrook, IL -- (SBWIRE) -- 05/29/2020 -- The report "GMO Testing Market by Trait (Stacked, Herbicide Tolerance, Insect Resistance), Technology (Polymerase Chain Reaction, Immunoassay), Crop Tested, Processed Food Tested, and Region - Global Forecast to 2022", The GMO testing market is estimated to be valued at USD 1.58 Billion in 2017. It is projected to grow at a CAGR of 8.2% from 2017 to 2022, to reach 2.34 Billion by 2022. The base year considered for the study is 2016, and the forecast years are from 2017 to 2022. The market is driven by factors such as evolution in farming technologies, diverse genetically modified processed food production, labeling mandates in several countries, and proper nutrient sufficiency.

"North America and Europe to dominate the GMO testing market in 2017"

The European region is the largest market for GMO testing in 2016. Countries such as Germany, France, Italy, Spain, the U.K., and other EU countries are major importers of soy, corn, canola, and other crops and processed foods. The countries in the EU are stringent in GMO regulations, which in turn results in vigorous testing of GMO for safety. North America is the major exporter of soy, corn & canola to the world which requires the conduction of tests for GMO labeling according to the importing country mandates. Brazil and Argentina are also the active countries for genetically modified food testing for safety. Asia-Pacific countries are at the growth stage in this market. China is the major country followed by Japan, Korea, and Rest of Asia-Pacific.

Key players identified in the GMO testing market include Thermo Fisher Scientific, Inc. (U.S.), SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (U.K.), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), and Bio-Rad Laboratories, Inc. (U.S.). Other players such as ALS Limited (Australia), Mérieux NutriSciences Corporation (U.S.), AsureQuality (New Zealand), Romer Labs Diagnostic GmbH (Austria), and Microbac Laboratories, Inc. (U.S.) also have a strong presence in the global market.

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The key market players adopted strategies such as expansions & investments, acquisitions, new product services & technology launches, and agreements, collaborations, and partnerships to meet the growing demand for safety testing for GM foods. Companies largely adopted strategies such as expansions and investments to expand their facilities and production capacities, to increase their capital, and to cater to the needs of the industry. Leading players have also been focusing on strengthening their strategic positions by implementing new technology and service development as a strategy to discover new advanced processes in the areas of food testing.

The core strength of the key players in this market is the ability to improve their service capabilities for GM food safety testing and to create a strong geographical network and supply chain. They are strategically located, and have entered into distribution agreements with regional players to ensure a cost-effective efficient supply chain. Market leaders such as Eurofins Scientific SE (Luxembourg), Genetic ID NA, Inc. (U.S.), Intertek Group Plc (U.K.), and Romers Lab Inc. (U.S.) have successfully tapped various markets such as the U.S., China, Germany, Brazil, and Argentina, through expansions and acquisitions, as these countries are active in the international trade of GM crops and foods.

In December 2016, Eurofins expanded its network by widening its presence in Asia. It developed a new team which operates in the Philippines. This expansion was strategized to cover the market of Vietnam and Indonesia along with the Philippines. This facility offered various services including food & feed testing. In June 2016, Eurofins Scientific acquired Agro-Analyses SAS (France). This acquisition would help to strengthen its leadership in the French food testing market, mainly in the area of food quality and safety assessment.

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In November 2015, IFP (Institut fur Produktqualitat GmbH) (Germany) expanded its activities in the field of GMO detection in food and feed. It is listed as a GMO laboratory by the U.S. Non-GMO Project and by the German VLOG (Association Food without Genetic Engineering). As a manufacturer of GMO-free products, the company is able to target the U.S. market.