Global Genetically Modified Organisms Market: Snapshot
Surge in the need for sufficient nutrition in food and crops globally is expected to fuel the sales growth in the global genetically modified organisms market during the forecast period, 2021 to 2031. In terms of trait, herbicide tolerance, insect resistance, and stacked are the three types of testing procedures currently available in the market.
An upcoming assessment by Transparency Market Research (TMR) delivers panoramic view of the global genetically modified organisms market. Hence, the genetically modified organisms market survey covers exhaustive analysis of the growth drivers, current and historical trends, growth restraints, challenges, R&Ds, and recent developments in the genetically modified organisms market. This aside, the report provides dependable statistics on the volume, revenues, shares, and sales of genetically modified organisms market.
The study by TMR is presented in the form of varied segments, which are based on important parameters such as trait, technology, crop tested, processed food tested, and region. In terms of technology, the market is being divided into polymerase chain reaction (PCR) and immunoassay.
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Key Drivers of Genetically Modified Organisms Market Growth
In genetically modified organisms (GMO) testing, the testing of a wide range of processed food as well as crops is being done for different traits. In the recent years, there has been a surge in the production of genetically modified crops owing to surge in the nutritional demand. Hence, the government authorities of several nations are implementing strict regulations related to the genetically modified food safety. This factor, in turn, is expected to drive the sales growth in the genetically modified organisms market during the forecast period.
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Due to hectic lifestyle of people from several developed and developing nations, the demand for different processed food products such as breakfast cereals & snacks, bakery & confectionery, meat & meat products, infant food, dairy products, and processed beverages is being increasing globally. Analysts at TMR note that the abovementioned factor is boosting the need for GMO testing, which in turn, is helping in the rapid expansion of the global genetically modified organisms market. Moreover, the market for genetically modified organisms is being driven by a rise in the GMO testing of different crops such as soy, corn, potato, rapeseed/canola, sugarbeet, rice, and tomato, state analysts of a TMR study.
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Competition Landscape of Genetically Modified Organisms Market
The presence of many key companies makes the competition levels in the global genetically modified organisms market extremely intense. Hence, players are using diverse strategies such as mergers, acquisitions, partnerships, and collaborations in order to stay ahead of the competition. Moreover, such strategies are being executed by players in order to expand their regional presence, notes a TMR study on the genetically modified organisms market.
Players in the genetically modified organisms market are investing sizable amounts in R&Ds in order to improve the quality of the services they provide. This factor is bolstering the market.
The list of key players in the global genetically modified organisms market includes:
- SGS S.A.
- Thermo Fisher Scientific, Inc.
- Intertek Group Plc.
- Bureau Veritas SA
- TÜV SÜD AG (Germany)
- Eurofins Scientific SE
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