Dublin, April 18, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Genetically Modified Food Safety Testing Market by Trait (Stacked, Herbicide Tolerance, Insect Resistance), Technology (Polymerase Chain Reaction, Immunoassay), Crop & Processed Food Tested & by Region - Global Trend & Forecast to 2020" report to their offering.
The market for GM food safety testing has grown exponentially in the last few years. The market size is projected to reach USD 1.9 Billion by 2020, at a CAGR of around 7.9% from 2015 to 2020.
Both, developed and developing countries have been targeted for this industry as the consumers' concerns towards GMOs have been revolutionizing GMO testing technology. Ensuring sufficient nutrition, evolution in farming technology, labeling mandates in several countries, diverse GM processed food production, and high investments in biotech R&D have been driving the market for GM food testing for safety.
The GM food safety testing market, on the basis of trait, is segmented into stacked, herbicide tolerance, and insect resistance. The stacked traits testing market was the largest in 2014, and is projected to be the fastest-growing in GM testing for crops and foods due to the increase in R&D innovations and multiplicity of different traits in one crop or food. Also, the expenses and the procedure associated with testing stacked traits are higher.
The GM food safety testing market, on the basis of technology, is segmented into Polymerase Chain Reaction (PCR) and immunoassay technologies. The GM food testing for safety through PCR technology is largest and is projected to grow at the highest rate from 2015 to 2020. The GM food safety testing market is segmented into crop and processed food tested, where the testing market for crops is the largest. The crop segment is further subsegmented into corn, soy, rapeseed/canola, and potato, for which the testing for corn and soy is the largest and the fastest-growing, as these are largely traded crops. The processed food tested segment contains bakery & confectionery, meat & meat products, breakfast cereals & snacks, food additives, and others, of which breakfast cereals & snacks is the fastest-growing market for GM food safety testing.
The GM food safety market was dominated by the European region in 2014. Stringent regulatory affairs for GMO testing and consumers' opposition towards the GM foods have been driving the market in European countries such as Germany, the U.K., Spain, and France among others. North America is projected to be the fastest-growing region for GM food safety testing, as it is the largest GM crops producing country and there is also a need to comply with the GMO labeling regulations from importing countries.
The active U.S. players in this market are Bio-Rad Laboratories, Inc. (U.S.) Silliker, Inc. (U.S.), Romer Labs Division Holding GmbH (Austria), EMSL Analytical Inc. (U.S.), Genetic ID NA, Inc. (U.S.), and OMIC USA Inc. (U.S.)
Lack of proper implementation of regulations, lack of technical know-how among farmers, ban on production of GM crops, and unaffordability of tests by food manufacturers & channel members are the major restraints and challenges in the GM food testing market for safety.
One of the leading players, Intertek Group Plc (U.K.), adopted acquisitions as its key strategy, and it also focuses on expansions to extend its capabilities in the GMO food safety testing market. The company has been continuously improving its products and services through new and advanced technologies to create new opportunities in food industries.
In 2014, the company acquired ScanBi Diagnostics, and in 2011 it acquired Labs & Testing S.A. (L&T) in Chile. Due to these acquisitions, it broadened its technical facilities and expanded its global presence in the GM food safety testing market. Eurofins Scientific SE (Luxembourg) acquired ViraCor-IBT Laboratories, Inc. (VIBT), which helped it to strengthen its GMO testing service line. The company launched a DNA chip technology which enabled simultaneous detection and identification of up to 21 genetically modified organisms in feed and food products, and also launched a technology to detect genetic discrimination between identical monozygotic twins.
For more information visit http://www.researchandmarkets.com/research/nv9nxz/genetically