Future Market Insights has announced the addition of the GMO Labelling Market, 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.
For food Genetically Modified Organism (GMO) or sometime also defined as genetically altered or genetically manipulated refer to any food products which has been altered at the gene level. GMO food products are created by transferring genetic material from other species in such a way that could not occur naturally or through any other traditional breeding methods. In terms of nutritional parameters such as protein, calories, fiber, carbohydrates and others. GMO crops are substantially equivalent to non-GMO crops. GMO labelling is primarily applicable for prepackaged food, packaged food and for food additives. The impact on the consumption of GMO food products is safe or not on long term basis is still not clear. However, sometime it may lead to allergenic effects or toxicity. Due to this many countries are now considering trade regulations for GMO foods through labelling which is expected to support the GMO labelling market over the forecast period.
Global Market Overview
Many developed nations are emphasizing on GMO labelling as they feel consumers must be aware of what they are actually consuming. Currently about 64 countries around the world require GMO label on the food products. According to the European legislations any food products manufactured in the European region containing more than 0.9% of genetically modified material must contain GMO labelling. This is helping the consumers to consume foods according to their choice and preferences that they should go for GMO products or GMO free products. It is also helping the manufacturers to launch and offer new products according to the consumer choice. As for instance in Europe the consumers are seeking for more GMO free products due to this in 2015 out of the total launched GMO free products 3.5 % was launched in Germany, 4.7% in Italy and 2.4% in U.K. In North America, the countries such as in U.S. initially GMO labelling was not mandatory as it increases the final product price, but in 2014 a law was passed according to which it is require for food companies to label GMOs on their products. Food manufacturers such as Campbell Soup Co in January 2016 announced that they will label their all applicable U.S. products for presence Of GMOs. Moreover, the country is producing GMO crops and GMO food products on larger scale. As for in 2013, GMO soy account for approximately 90.0% of the soybeans grown in the U.S. while GMO corn was approximately accounted for approximately 85.0% of all corn.
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In developing regions such as Asia Pacific still there is a lack of standardization. In countries such as China despite the mandatory GM food labeling requirements, not all genetically modified foods are labeled in the China food market. Even if there is a GMO labeled, they are not clearly visible. Enforceability of mandatory rule for GMO labeling is a major factor affecting the market. Even in countries of Middle East there is a lack of proper set of rules regarding GMO labeling.
Consumers across the globe is getting more aware and conscious for food manufacturing practice which the companies are using. They are becoming quite selective while purchasing of edible items. Thus is expected to affect the consumption of those products containing GMO. Due to this many companies or group of companies wants label GMO foods as natural. As for in 2014 the Grocery Manufacturer Association file a petition to FDA regarding issue of regulation that would authorize GMO food as natural food.
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Mandatory food labeling would burden the food industry with unwieldy and costly requirements. It has been analyzed that cost associated with GMO labelling will increase the final cost of the product. As for in the U.S. the cost is expected to steep approximately US$ 1,050 per U.S. family, or up to $ 82 billion annually for whole country. This may affect the growth of food industry over the forecast period.
GMO Labelling Market: Key Organization
Major organization providing GMO labeling incudes SGS SA, Food and Drug Administration (FDA), European Food Safety authority and others.
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