Market Trends of GMO Labeled Food Industry
Growing Consumer Awareness about labelling
- There has been a rapid increase in organizations dedicated to food safety and quality and clean labels representing the aspirations and needs of society at a large scale.
- Consumers want more information about a product's constituent list, provenance, manufacturing process, transportation, storage, and safety testing regarding GMO labeling. In Canada, support for obligatory labeling of all types of GMOs is relatively consistent across demographic groupings, with just minor differences among regions, genders, and age groups.
- As customers become more concerned about healthy edible items, food manufacturers focus their efforts on GMO labeling. Consumers have a right to know whether their products contain transgenic chemicals, allowing them to make informed judgments about the risks and advantages.
- According to a survey conducted by International Food Information Council (IFIC) in 2021, approximately 51 percent of participants in the United States stated that when shopping for food or beverage products, the nutrition facts label, typically on the back or side of the product packaging, has the most significant impact on their purchasing decisions.
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Europe hold major share in GMO Labeled Food Market
- Europe region is the most mature and developed economy. A consumer with a high income prefers health over price. Therefore, the GMO-labeled market is witnessing growth in this region. Mandatory labeling rules usually apply based on the GMO percentage of any specific ingredient in a food product. However, others apply to the complete food item. The most stringent regulations, such as those in the European Union, Saudi Arabia, Turkey, and Australia, have a 0.9% threshold.
- When surveyed by World Wide Fund for Nature (WWF) in the summer of 2022, some 30 percent of respondents in selected European Union countries mentioned that unclear labeling on food products is a factor that prevents or stops them from eating types of food that are better for the environment and are more sustainable.
- Hence, with increased consumer awareness about labeling and escalated trends of non-GMO foods, it becomes even more essential for food makers to focus their efforts on GMO labeling.
Therefore, the factors mentioned earlier are anticipated to drive the global GMO-labeled food market in the region in the coming years.
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