Latin America Genetically Modified Food Safety Testing Market

Latin America Genetically Modified Food Safety Testing Market Size (2024 to 2029)

The genetically modified food safety testing market in Latin America was worth USD 150 million in 2023 and is expected to grow at a CAGR of 9.72% from 2024 to 2029 and be worth USD 250 million by 2029 from USD 160 million in 2024.

Genetically modified foods, also called genetically engineered foods, are produced by organisms in which certain changes have been introduced to their genetic material using some techniques of genetic engineering. These techniques allow for the researchers to introduce new traits which are previously not present in that organism. As the DNA of the organisms has been altered, certain characteristics of the organisms might also have been changed. In order to ensure that the changes that occur do not cause any negative effects, safety testing has to be done on food produced from such organisms. Safety testing generally tests for the characteristics of food, such as toxicity, allergenicity, stability of altered or inserted genes, and nutritional effects of the food resulting from genetic modification.

Technological advancements in genetic engineering which allows greater control over traits than other methods and the increasing need for enhanced nutritional food products are expected to drive the market. The possibility of unintended harmful effects due to gene insertion and toxicity of genetically modified foods for humans are also driving the market.

However, public concerns regarding the safety of GM foods, environmental impacts and varying regulatory status in different countries are restricting the market growth.

On the basis of trait, the stacked trait segment is projected to hold the largest share of the Latin American market during the forecast period due to the protection against insects as well as herbicide tolerance.

On the basis of technology, the PCR segment is likely to account for a notable share of the Latin American market during the forecast period, as PCR is largely used in the testing process.

Regionally, Brazil is the largest market segment due to its developing economy followed by Argentina.

KEY PLAYERS IN THE LATIN AMERICAN GENETICALLY MODIFIED FOOD SAFETY TESTING MARKET

Companies playing a notable role in the Latin American genetically modified food safety testing market include Monsanto, Emsl Analytical Inc., Genetic Id Na, Inc., Bio-Rad Laboratories, Inc., Eurofins Scientific Se, Intertek Group Plc, OmicUsa Inc., SGS S.A. and Romer Labs Division Holding GmbH.

DETAILED SEGMENTATION OF THE LATIN AMERICAN GENETICALLY MODIFIED FOOD SAFETY TESTING MARKET INCLUDED IN THIS REPORT

By Trait

• Stacked
• Herbicide Tolerance
• Insect Resistance

By Technology

• Immunoassay
• Polymerase Chain Reaction

By Crop Tested

• Corn
• potato
• soya bean
• canola

By Processed Food Tested

• Meat And Meat Products
• Bakery And Confectionary
• Breakfast Cereals
• Snacks
• Food Additives
• Other Processed Food

By Country

• Brazil
• Argentina
• Mexico
• Rest of Latin America