Global
Food Safety Products and Food Safety Testing Market: Overview
The
global food safety products and food safety testing market has been
exhibiting substantial growth over the last couple of years owing to
the rising prevalence of food-borne disease worldwide. The growing
awareness regarding the rising incidences of food borne diseases and
the employment of technologically advanced equipment and techniques
are further expected to fuel the adoption of food safety products and
food safety testing equipment. Concerns regarding food safety have
impelled consumers to adopt food safety tests and food safety
products. The primary challenges that the food industry faces today
are traceability, identification, and prevention of food
contaminants. The implication of stringent regulations regarding food
safety to prevent contamination of food has impelled food product
manufacturers and consumers have increased the use of food safety
tests and food safety products.
View
exclusive Global strategic Business report
:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=312
With
the progress of food and beverage manufacturing industry and
expansion of the food service industry, the global market for food
safety products and food safety testing is also expected to grow. The
sales of several diagnostic test products are likely to increase over
the next couple of years due to the projected rise in the inspection
of food plants. However, the growth of the market is likely to be
adversely impacted by the lack of awareness among people in
developing economies. The disorganization in the regulatory systems
is further expected to hinder the growth of the global food safety
products and food safety testing market.
The
global food safety products market is expected to rise at an 8.6%
CAGR between 2010 and 2018. It is projected to touch US$19.42 bn by
the end of 2018 from a valuation of US$10.15 bn in 2010. Likewise,
the global market for food safety testing market is expected to touch
a valuation of US$4.89 bn by 2018, rising at a CAGR of 8.5% during
the forecast period.
Processed
Food Products to Dominate Market owing to Changing Taste
Preferences
In
terms of consumption, the processed food segment emerged dominant in
2011 with a share of almost 36%. This segment was closely trailed by
the dairy products segment accounting for a share of 22% in 2011 in
the global food safety products and food safety testing market.
However, the meat and poultry products segment is likely to exhibit a
strong CAGR of 7% owing to the rising consumption of dairy products.
Europe
to Lead Market with 34% Share
In
2011, the global
food safety products and food safety testing market was dominated
by Europe with a share of 34%. The region was closely trailed by Asia
Pacific and North America. It has been predicted that by the end of
2018, the market in Asia Pacific will grow significantly owing to
improvement in safety standards.
Some of the prime players in the market are Ecolab Incorporated, IDDEX Laboratories Inc., Douglas Scientific, 3M Company, Biomerieux SA, Thermofischer Scientific, and Biocontrol Systems.
No comments:
Post a Comment