Genetically Modified Food Safety Testing Market: Unveiling Competition, Size, and Robust Growth Prospects Through 2028 - TechSci Research Analysis

The global market for genetically modified (GM) food safety testing has been steadily growing, driven by the imperative need for ensuring food security and regulatory compliance. According to a comprehensive report by TechSci Research, titled “Global Genetically Modified Food Safety Testing Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the market valued at USD 2.24 billion in 2022 and is expected to witness remarkable growth with a projected Compound Annual Growth Rate (CAGR) of 7.49% through 2028.

Importance of Quality Control and Assurance

Quality control and assurance play a pivotal role in driving the demand for GM food safety testing. Ensuring the safety, integrity, and compliance of GM food products is paramount for meeting regulatory standards, addressing consumer concerns, and maintaining the quality of the food supply chain. Regulatory authorities across various countries and regions have established stringent standards and requirements for the approval, labeling, and safety assessment of GM foods. Compliance with these regulations is essential for market access, and quality control measures such as GM food safety testing are instrumental in meeting these requirements.

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Benefits of Genetically Modified (GM) Foods

Genetically modified foods are engineered to offer specific benefits, including cost-effectiveness, extended shelf life, and enhanced nutritional content. These benefits are driving the adoption of GM crops globally. However, ensuring the safety of these products is critical. The safety evaluation of GM foods involves examining their potential toxicity, allergenicity, nutritional profile, and the stability of the introduced genes. Continuous research into novel approaches and methodologies is further propelling the growth of the market by guaranteeing the safety of GM foods.

In May 2023, Neogen Corporation unveiled two new assays for the detection of natural toxins: Reveal Q+ for DON EndPoint and Reveal Q+ for Aflatoxin EndPoint. These user-friendly quantitative lateral flow tests deliver precise results within minutes and are particularly useful in scenarios where increased workflow efficiency is required. Neogen offers a comprehensive array of diagnostic test products for food safety, covering foodborne bacteria, mycotoxins, food allergens, and various other safety concerns.

Public Perception and Activism

Public perception and activism present significant challenges in the global GM food safety testing market. Concerns surrounding genetically modified organisms (GMOs) and their impact on food safety, the environment, and public health have led to skepticism among consumers. Many consumers worry about potential health risks, allergenicity, and long-term consequences of consuming GMOs, driving demand for more rigorous safety testing and transparent labeling of GM products. Activist groups and concerned consumers advocate for clear labeling of GM products, creating additional pressure on the industry to perform comprehensive safety testing to meet labeling requirements.

Competitive Analysis

Neogen Corporation: Leading the Way in Food Safety Testing

Neogen Corporation stands out as a key player in the GM food safety testing market, offering innovative diagnostic test products for food safety. The company's recent introduction of Reveal Q+ EndPoint assays demonstrates its commitment to providing efficient and accurate solutions for detecting natural toxins in food products. With a wide range of mycotoxin test kits covering various toxins, Neogen Corporation is well-positioned to address the diverse needs of the food industry.

Market Segmentation

The global GM food safety testing market is segmented based on food type and region:

Food Type Segmentation

1. Crops: Agricultural products derived from genetically modified organisms (GMOs) or genetically engineered plants.

2. Processed Foods: Food products that have undergone processing and contain ingredients derived from GM crops.

3. Others: Additional food products that may contain GM ingredients or derivatives.

Regional Analysis

North America holds the largest share in the global GM food safety testing market. The region benefits from strong research and innovation in biotechnology, leading to a constant influx of new GM products that require safety testing. With extensive agricultural operations and a well-developed infrastructure for food safety testing, North America is a key producer and exporter of GM crops.

The global market for genetically modified food safety testing is witnessing significant growth driven by the imperative need for ensuring food security, regulatory compliance, and consumer trust. Quality control and assurance are critical in meeting regulatory standards and addressing consumer concerns regarding the safety of GM foods. Continuous research and innovation in safety testing methodologies are essential for guaranteeing the safety of GM products. Neogen Corporation emerges as a leading player in the market, offering innovative solutions for food safety testing. With increasing public scrutiny and activism surrounding GM foods, clear labeling and rigorous safety testing are imperative for maintaining consumer trust and market access. As the demand for GM foods continues to rise, the importance of robust safety testing measures will only increase, driving further growth in the global GM food safety testing market.

Some of the major companies operating in the Global Genetically Modified Food Safety Testing Market include:

• Monsanto

• Bio-Rad Laboratories, Inc.

• Emsl Analytical Inc.

• Eurofins Scientific Se

• Thermo Fisher Scientific

• SGS SA

• Intertek Group Plc.

• Genetic ID NA Inc.

• ALS Limited

• Assure Quality Limited

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Trends and Useful Insights:

· The global genetically modified food safety testing market is witnessing robust growth as genetically modified foods provide more nutritional benefits compared to conventional products.

· The increasing demand for crops that are inherently resistant to the chemicals used for their protection is driving the growth of the market.

· Genetically modified organisms (GMOs) can be defined as organisms in which the genetic material has been altered to provide certain advantages, such as improved protection against diseases and increased nutrition.

· The safety assessment of GM foods generally focuses on their toxicity, potential to provoke allergic reactions, specific components perceived to have nutritional or toxic properties, and the stability of the inserted gene.

· The ongoing activities for the development of innovative methods and techniques to ensure the safety of GM foods are boosting the growth of the market.

· The demand for GM foods has been growing among consumers owing to their improved nutrition.

· The awareness of food safety and the benefits of nutrients among consumers is primarily driving the growth of the global genetically modified food safety testing market.

· There is an emerging trend toward clean-label products among consumers, as they are perceived to be healthier and safer as compared to modified foods.

· The global genetically modified food safety testing market is segmented on the basis of trait, technology, crop tested, processed food tested, and region.

· On the basis of trait, the global market for genetically modified food safety testing is classified into three categories: stacked, herbicide tolerance, and insect resistance.

· On the basis of technology, the global GM food safety testing market is classified into polymerase chain reaction (PCR-based) and real-time PCR, which are the methods of choice for GMO detection and quantification.

· On the basis of crop tested, the global market is classified into corn, soybean, rapeseed/canola, potato, and others (tomato, sugar beet, and rice).

· A rise in demand for contamination checks for meat, poultry, and meat products is expected to drive segment growth.

· To check for hazards, companies take a close look at the proteins produced by the modified genes and see whether they could be toxic or cause allergic reactions in people.

“Certain areas, particularly in North America, are projected to exert significant demand for Genetically Modified Food Safety Testing. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Global Genetically Modified Food Safety Testing Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Genetically Modified Food Safety Testing Market by Food Type (Crops, Processed Foods, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Global Genetically Modified Food Safety Testing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Genetically Modified Food Safety Testing Market.

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