GMO labelling Market - Growth, Trends and Forecasts (2017 - 2022)
Genetically modified organism (GMO) in food refers to food products (plant, animals, bacteria) that have been altered at gene level or use GMO ingredients. GMO food or ingredients are made by transferring genetic materials from unrelated species; this process is not a natural recombination or traditional breeding. Food allergies, rising toxicities, and decreased nutritional value are some of the issues related to the consumption of GMO foods. Within the food policy, the labelling of GMOs has been one of the most contentious issues. In 1997, Europe introduced the first GMO labelling requirement for food products, as they wanted to enable consumers to choose between the conventional food products and GMOs. The mandatory labelling requires food manufacturers to mention the GMO ingredients on the labels of GMO products. The global GMO labelling market is growing at a steady pace, which is expected to grow at a CAGR of XX% during the forecast period of 2017–2022, to reach USD XX billion by 2022. Around 64 countries around the world, which comprise almost 40% of the world’s population, including Europe, Russia, Japan, Brazil, Australia, China, India, South Africa, Germany, and others, are labelling their GMO food products.
The primary factor driving the GMO labelling market is the growing consumer awareness. Food manufacturers are keenly concentrating on catering to the GMO labelling as consumers are becoming increasingly conscious about healthy edible products. The consumers have a right to know whether the products they are purchasing consist of transgenic ingredients, which will help them make well-informed decisions, understanding the risks and benefits. Consumer awareness is reflected by various non-government organisations like the Green Americans, Organic Consumers Association and others that are actively raising awareness and fighting for Non-GMO mandatory labelling rules. The increasing non-GMO product launches from the food and beverages industry is also one of the factors that can positively affect the market growth, further. Technology advances in the market are also identified to increase the revenues of the GMO labelling market during the forecast period. Many manufacturing companies are lobbying against mandatory GMO labelling and seek GMO food products to be labelled as ‘natural’ products, regarding which the Grocery Manufacturer Association, a trade association based in the United States, had filed a petition to the FDA in 2014. This activity and similar ones in the market could restrain the growth of GMO labelling. The mandatory food labelling GMO laws can lead to increased costs in the food and beverages industry. Thus, the food price may go up, thereby, negatively impacting the market in the future. Moreover, uniform GMO labelling rules have not been established in many countries, and apart from Europe no other country has well-defined mandatory GMO labelling laws; these factors can adversely affect the GMO labelling market growth.
Europe has a well-defined mandatory labelling system which has encouraged manufacturers to focus on widening their non-GMO product section. Moreover, European consumers are currently asking for non-GMO products, leading to growing product launches in the GMO-free food sector across the EU. Europe holds a major share in the GMO labelling market.
GMO regulation in the U.S has been approved by the Senate recently, which makes labelling of GMO products mandatory. Following this law, major players in the market have already started labelling for the presence of GMO in their products. However, GMO crops like corn, soybeans, sugar and canola may be exempted from this law. This mandatory regulation will immensely boost the American GMO labelling market. Though there is a mandatory GMO labelling law in China, not all GMO foods are labelled, and there is a lack of standardization among GMO food and GMO-free food labelling in the Chinese food market. Most of the developing nations like Africa, India and South America do not have mandatory labelling laws. However, the growing consumer awareness in these regions, regarding the risks of the consumption of GMO foods is positively affecting the GMO labelling market in these regions.
Some of the major players capturing the GMO labelling market include -
Key Deliverables in the Study
Market analysis for the global GMO labelling market, with region-specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global GMO labelling market on both, global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped