Report Shows Global Trends and Forecasts on GM Food Safety Testing MarketMay 11, 2016
The GM food safety testing market, estimated at USD 1.36 billion in 2015, is projected to reach USD 1.99 billion by 2020, according to the report released by Research and Markets. The report is entitled 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.
Several factors affect the market such as demand for high nutrition food products, consumer consciousness regarding GMO food, and innovations leading to new GM crops and food. The report indicated that the U.S. has increased the usage of modern technologies and wider range of foods tested for GM food safety testing. On the other hand, U.K. was the fastest-growing country-level market for GM food safety testing in the world, and recorded the second highest in terms of value in Europe.
In terms of trait, the stacked trait segment led the GM food safety testing market in 2014, which was followed by herbicide tolerance and insect resistance.
Read more details from Research and Markets.
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