GMO Labelling Market Revenue, Opportunity, Forecast and Value Chain 2016-2026
Future Market Insights has announced the addition of the “GMO Labelling Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
GMO labelling for food products was first introduced in the EU in 1997, in order to provide consumers with the privilege to choose between the conventional food products and GMOs. The mandatory labelling asks manufacturers to indicate the GMO ingredients on the labels of genetically engineered products. The global GMO labelling market is growing at a steady pace, and according to FMI’s research, the market is expected to grow moderately in the near future.
Vermont was the first state to pass the GMO food labelling bill in 2014, followed by Maine and Connecticut. Currently, 64 countries around the globe, which contribute nearly 40% of the world’s population, including the EU, Russia, Japan, Brazil, Australia, China, India, South Africa, Germany, and more are labelling their GMO food products.
Recently, the U.S. has passed the first law of GMO labelling, with a few defined exceptions. Following this, the GMO labelling market is anticipated to thrive globally.
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Key Drivers: GMO Labelling Market
Key Restraints to Market Growth
GMO Labelling: Regional Market Dynamics
The U.S. where GMO labelling of food products was not mandatory till the last couple of years, has now a law passed in favour of GMO food labelling. Following this law, major players in the market have already started labelling for the presence of genetically engineered ingredients in their products. The country has also initiated larger scale production of GMO crops, including corn and soy.
On the contrary, an increasing number of European consumers are currently asking for non-GMO products, leading to growing product launches in the GMO-free food sector across the EU. In 2015, the market revenues of GMO-free foods were considerably high, out of which around 4.7% products were launched in Italy, 3.5% in Germany, and 2.4% in the U.K.
Most of the developing regions, including APAC, though label GMO food products, lack standardisation to a large extent. While the Chinese market is full of discrepantly labelled GMO products, the Middle East market does not have a proper set of norms for GMO labelling yet. The key reason for this scenario is the enforcement of the law without considering manufacturers’ and consumers’ consents.
Key Organisations Governing the GMO Labelling Market
Some of the major organisations providing GMO labelling incudes SGS SA, Food and Drug Administration (FDA), and European Food Safety Authority.
Campbell Soup Co., a leading food manufacturing brand in the U.S., has been heading in the business of producing high quality soups, snacks, meals, healthy beverages, and much more. In January 2016, the company announced its commitment to label each of their GMO product in future.
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Nov 22, 2016