The global GMO labeling market is anticipated to grow at a CAGR of 4.9% during the anticipated period, per Future Market Insights analysis. The market will be worth USD 2,134.2 Million in 2032 as opposed to USD 1,322.7 Million in 2022, according to forecasts.
| Attributes | Details |
|---|---|
| The market size value in 2022 | USD 2,134.2 Million |
| Market forecast value in 2032 | USD 1,322.7 Million |
| Forecast period | 2022 to 2032 |
| Global growth rate (CAGR) | 4.9% |
| The growth rate of Australia in the GMO labeling market | 2.3% |
The EU initially implemented GMO labeling for food goods in 1997 to provide consumers the option to select between normal food products and GMOs. Manufacturers of genetically altered products are required by mandatory labeling to list the GMO contents on the product labels.
2014 saw the passage of the GMO food labeling bill in Vermont as the first state, followed by Maine and Connecticut. At the moment, 64 nations throughout the world including the EU, Russia, Japan, Brazil, Australia, China, India, South Africa, Germany, and others-represent about 40% of the global population and are labeling their GMO food goods.
According to FMI's study, the worldwide GMO labeling market is expanding steadily and is anticipated to expand moderately in the near future.
In 2017, the market for GMO labeling has a value of $1,061.4 million. From 2017 to 2021, the GMO labeling market is projected to expand at a CAGR of 4.5%. In 2021, the market for GMO labeling was expected to be valued at USD 1265.78 Million.
The National Academy of Sciences asserts that customers must be aware of whether the items they buy contain transgenic elements in order to weigh the dangers and advantages of their choice. This has been a major driver of market expansion.
Consumer attitudes toward food goods are always changing. FMO food producers are putting a lot of effort into meeting the needs of GMO labeling as consumers become more aware of healthy edible products in order to maintain a devoted customer base. This is yet another important factor that is anticipated to increase the industry throughout the coming years.
After a law supporting the labeling of GMO foods was passed, the American market for GMO labeling is rapidly expanding. Consumer need for increased transparency on the food they are eating has been the driving force behind this.
All food products that contain GMOs must now be clearly labeled as such by law. As a result, many businesses have altered the components of their products or reformulated them to eliminate the use of GMOs.
The market for GMO-free goods is likely to expand as more customers become aware of the problem of GMOs in their food. Customers will have more options as a result, and businesses will face pressure to acquire non-GM ingredients.
While some base the amount on the overall food item, most mandatory labeling rules are based on the percentage of GMOs in any one ingredient in a food product. The 0.9% level is used by countries with the strictest regulations, such as the European Union, Saudi Arabia, Turkey, and Australia. Others permit a higher level of GMO incorporation, with Japan allowing 5% and South Korea allowing 3%. In Australia and New Zealand, unless the entire product is genetically modified, GMO ingredients must be disclosed in the ingredient panel. According to the organization Food Standards Australia New Zealand, in that situation, the details must be listed next to the name. The GMO labeling criterion is higher in South Korea, where anything less than 3% is regarded as accidental.
According to a recent study, supermarkets are to blame for the market for GMO labeling expanding. When stores were located in states with obligatory GMO labeling legislation, they were more likely to sell products with GMO
labels, according to the University of California, Berkeley study that examined data from more than 9,000 products in the USA.
According to Michele Simon, the study's primary author, stores are responding to customer demand for genetically modified foods (GMOs). We expect to see many more products on shop shelves wearing these labels as additional states approve mandatory GMO labeling laws, she said.
The study is being released as the American argument for requiring GMO labeling rages on.
According to a recent study, supermarkets are to blame for the market for GMO labeling expanding. When stores were located in states with obligatory GMO labeling legislation, they were more likely to sell products with GMO labels, according to the University of California, Berkeley study that examined data from more than 9,000 products in the USA.
According to FMI, stores are responding to customer demand for genetically modified foods (GMOs). We expect to see many more products on shop shelves wearing these labels as additional states approve mandatory GMO labeling laws.
To satisfy consumers' growing demand for GMO labeling and to maintain their market dominance, the majority of businesses are concentrating on innovation and new product launches.
In order to fulfill evolving consumer expectations and seize the largest market possible, businesses in the GMO labeling sector are constantly producing new sorts of products. Additionally, businesses are focusing on growing their distribution networks in order to enter new markets.
| Attribute | Details |
|---|---|
| Forecast period | 2022 to 2032 |
| Historical data available for | 2017 to 2022 |
| Market analysis | USD million in value |
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| Key segments covered |
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| Customization and Pricing | Available upon request |
The GMO labeling market size is assessed to be USD 2,134.2 Million in 2022.
The GMO labeling market is expected to rise at a CAGR of 4.9%.
USA, China, Canada, Germany, China, India, the United Kingdom, and Australia are the major countries driving demand for the GMO labeling market.
China's GMO labeling market is projected to grow at a CAGR of around 6.1% over the next ten years.
The market share in Germany in the GMO labeling market is about 26% of the global market.
Campbell soup, Conagra foods, Earthbound farms, General Mills, and Danone are expected to be the top players driving the market growth.
The global GMO labeling market is forecasted to surpass USD 1,322.7 Million by the end of 2032.
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GMO Labelling Market
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