The
global food safety products market is highly fragmented with the
focus of most companies on the reduction of equipment cost and time
needed for the test. Key players operating in the market include:
Covance Inc., Eurofins Central Analytical Laboratories, Genevac Ltd,
Hach Company, and Hardy Diagnostics. Although there exist high entry
barriers to the market owing to strict regulatory scenarios, new
entrants have a lot of freedom to operate in the market. Thus, the
threat of new entrants is expected to be medium. The food
safety products market is extremely price-sensitive, states a new
report by Transparency Market Research (TMR).
The
market is moderately concentrated on a global scale but extremely
fragmented on a regional scale. For instance, the regulatory norms in
the U.S. is extremely stringent, however they are extremely relaxed
in Asia Pacific. The degree of competition is anticipated to be high
in the coming years. Companies are patenting their products to gain a
competitive edge. Case in point. BioControl Systems Inc has patented
its product The Coli Complete, restraining rivals from using products
with similar chemical composition.
Growth
in Processed Food Market Boosts Demand for Food Safety Products
The
expanding food and beverage industry and growing concerns over the
quality of food are propelling the global food safety products
market. The rising number of disease outbreaks owing to incidences
of food poisoning and contamination are also fueling the growth of
the market. As per WHO, food borne diseases have caused 2.2 mn deaths
in 2010.
The
growing processed food market across the globe is aiding the growth
of the global food safety products market. Processed foods such as
dairy dried processed food, ready to eat meals, baby food, and canned
and preserved food require hygiene and sanitation. This is because
these products pass through various players in the value chain, thus
arising the need for food safety products.
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The
globalization of food supply trade is another factor that is causing
a heightened demand for food safety products. The growing population
has caused a rise in the import, export of food products. This in
turn has increased the level of adulteration owing to inadequate
monitoring and control over the manufacturing units, subsequently
giving a rise to the demand for food safety products.
Different
Tests Required for Different Food Types Act as Major Challenge for
Market Players
The
major challenge faced by the global food safety products market is
the necessity of having different types of tests for different food
products, states TMR. For testing different pathogens and chemicals
present in various food products, different tests are required, thus
creating a need for technological advancements and upgradation. Lack
of food safety awareness in developing countries is another factor
restraining the growth of the market. The misalignment in the value
chain is yet another challenge gripping the global food safety
products and testing industry.
Untapped
Asia Pacific Market Offers Huge Growth Opportunities for Companies
The
market in Asia Pacific is anticipated to expand at a significant pace
owing to the demand for safe food products from consumers of emerging
companies such as China and India. These countries are driving the
food safety products and testing market in the region. The untapped
Asia Pacific market thus, holds lucrative opportunities of growth for
market players. Another factor that will open new avenues for growth
in the global food safety products and testing market is the
integration of players with food diagnostic companies.
By
geography, Asia Pacific is expected to lead in the food safety
products market by 2018, overtaking North America. Asia Pacific is
also expected to emerge as the leading regional segment in the global
food safety testing market by 2018. By type, the global food safety
products market is expected to be led by the disinfection products
segment. By testing method, the rapid method segment is expected to
lead in the global food safety testing market in the future.
According
to the report, the global food safety products market is expected to
be worth US$19.4 bn by 2018. The global food safety testing market is
expected to be worth US$4.8 bn by the end of 2018.
This
information is based on the findings of a report published by
Transparency Market Research titled “Food Safety Products Market
and Food Safety Testing Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2010 - 2018.”
The
global food safety products and food safety testing market is
segmented as follows:
Food
Safety Products Market Types:
- Disinfection Products
- Diagnostic Products
- Disposable Gloves
- Smart Labels & Tags
- Software Tracking Systems
Food
Safety Testing Market, by Contaminants:
- Pathogens
- Pesticides
- Genetically Modified Organisms (GMOs)
- Toxins
- Others
Food
Safety Testing Market, by Pathogens:
- Listeria
- Salmonella
- Coli
- Campylobacter
- Others
Food
Safety Testing Market, by Food Types:
- Processed Foods
- Meat & Poultry
- Dairy Products
- Fresh & Frozen Fruits & Vegetables
- Others
Food
Safety Testing Market, by Technology:
- Traditional Methods
- Rapid Methods
Food
Safety Rapid Testing Market, by Types:
- Convenience-Based Methods
- Immunoassay-Based Methods
- PCR-Based Methods
- Other Molecular-Based Methods
Food
Safety Products Market, by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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