Global Food Safety Testing Market is projected to grow at a high CAGR from 2017 to 2022
The global food safety testing market has seen immense growth in the past few years mainly because of the cases of food contamination, which is why manufactures have taken a serious approach towards food safety testing, this a main factor driving the growth of the industry. With new food and water borne diseases emerging, the market has received quite a big boost over time and is expected to continue blooming. Also, with the increasing amount of food required to satisfy the ever-growing population, both the food and food safety testing markets have profited. According to a report by the World Health Organization (WHO), over 600 million people across the globe suffered from foodborne diseases or food contamination in 2010. The types of contaminants are pathogens, chemicals, genetically modified organisms, toxins, among others. The pathogen segment is expected to dominate the market the global food safety testing market.
The report is designed to provide a complete view on the global Food Safety Testing market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2022). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for Food Safety Testing market has been studied considering a short term forecast of the factors/ variables which have an impact on Food Safety Testing market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Rapid expansion of food and beverages industry, High medical expenses in case of contamination, Health and safety initiatives taken up by the Government, High incidence of contamination based illness, and unsanitary factory conditions in developing countries are driving the global food safety testing market.
Study Technique: Global Food Safety Testing Market
The global Food Safety Testing market has been studied from the year 2016 till 2022. However, the CAGR provided in the report is from the year 2017 to 2022. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Food Safety Testing market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Food Safety Testing, and customer analytics.
End-User Landscape (Consumer Profile): Food Safety Testing Market
Companies such as the SGS SA, Intertek Group Plc, Eurofins Scientific, and Bureau Veritas S.A. among others are investing extensively in the manufacturing and sale of Food Safety Testing, which presents a huge opportunity to Food Safety Testing suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Global Food Safety Testing Market Segmentation
Based on the technology used, the market is divided into traditional and rapid. The rapid testing technology includes PCR-based, immunoassay-based, convenience-based assay, and other molecular based methods. Rapid technology is highly demanded due to its fast and accurate results as well as user friendliness. It captures the largest share of the food safety testing market. Stakeholders are always on the lookout for new and improved technologies for quality testing of their products, this is what drives the market for rapid technologies in food safety testing.
Food tested is usually dairy products, processed food, meat and poultry, fruits and vegetables among others. Due to globalization and increase in international trade, contamination and tracing its origins is a major issue. This raises serious health and safety concerns, thereby driving the food safety testing industry. Safety testing of meat and poultry is seen to hold the largest market share due to recent epidemics; salmonella and other bacteria are commonly found in meat and poultry. Unhygienic skinning and cleaning processes lead to such growth. In the dairy sector, a lot of pathogens can survive the pasteurization process and require further safety testing. Safety regulations against food have been strictly implemented in many countries to prevent further breakouts. Players are always looking for new and improved technology to launch and compete with other players.
SGS SA, Intertek Group Plc, Eurofins Scientific, Bureau Veritas S.A., Silliker, Inc., ALS Limited, and Asurequality Limited among others account for the major share in Food Safety Testing market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Microbac Laboratories, Inc., Covance Inc., International Laboratory Services, and DTS Food Laboratories.
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