The
global market for food safety testing has a largely fragmented vendor
landscape, featuring the presence of a large number of small and
large service providers, and the top five companies collectively
holding only about 20% of the overall market in 2016, says
Transparency Market Research in a recent report. It has also been
observed that premium service providers are exploring growth avenues
in high-potential markets, hinting towards a possible rise in the
level of consolidation of the market over the next two to three
years.
Key
players in the market have emphasized on garnering the attention of
the consumers by keeping pace with their ever-changing testing
patterns. Product innovation to perform more accurate tests has seen
an increasing demand from the supply side, to increase the brand
appeal and also to provide better services, which is one of the most
important parameters considered by consumers. Some of the leading
players in the market are Bio-Rad Laboratories, Inc., Intertek Group
Plc, SGS SA, Eurofins Scientific SE, and Thermo Fisher Scientific,
Inc.
Transparency
Market Research estimates that the market will exhibit a promising
8.9% CAGR over the period between 2017 and 2025, rising to a
valuation of US$1304.5 mn by the end of 2025 from an estimated
US$658.5 mn by the end of 2017.
Europe
to Continue Holding Massive Share in Global Market’s Revenue
In
terms of geography, the food
safety testing market
in Europe is expected to dominate the global market in terms of
revenue contribution throughout the report’s forecast period. The
regional market is expected to exhibit a promising CAGR of 9.3% over
the report’s forecast period, continuing to retain its top spot in
terms of revenue contribution as well as rate of growth as compared
to other regional markets. In terms of type of contaminants,
including pathogens, genetically modified organisms, chemicals, and
toxins, the global market is expected to be dominated by the segment
of pathogens over the forecast period. The segment is estimated to
account for 42.5% of the global food safety testing market in 2017.
Rising
Instances of Food Contamination to Remain Key to Demand
A
number of factors have contributed towards establishing the market
for food safety testing as one of the most important segment of the
global food and beverages industry in the past few years. Factors
such as the rising incidences of food contamination, the consecutive
rise in demand for food safety testing tools and mechanisms from food
manufacturers, and the rising production of genetically modified
organisms-based foods and food products have helped the market thrive
across the globe.
Fill
the form for an exclusive sample of this report @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=312
The
rising increasing awareness about foodborne diseases and various
technologically advanced techniques and equipment deployed for food
safety testing is also boosting the market. The vast rise in the
population of individuals that are highly susceptible to food
contaminations, including children aged five years and below,
geriatrics, and people suffering from chronic disease such as
diabetes, cancer, and AIDS, is also contributing to the overall
development of the global good safety testing market. “According to
a report by the World Health Organization (WHO), over 600 million
people globally across the globe suffered from foodborne diseases or
food contamination in 2010,” notes the lead author of the report.
Lack
of Uniform Regulatory Guidelines to Hamper Growth Prospects
Despite
having excellent growth opportunities, certain factors could hamper
the growth of the global food safety testing market over the forecast
period. These include the lack of uniformity in global regulatory
guidelines and the lack of adequate infrastructure and testing
laboratories in developing countries. Different regions have
different guidelines for trading of consumer goods including food and
feed, agricultural products, and other products. This is expected to
adversely affect the growth of the global food safety testing market.
Also, owing to the allocation of low budget and resources to food
testing laboratories in developing countries, upgrades to food
testing equipment and software are not easily achieved. This factor
could also hamper the growth of the global food safety testing market
to a certain extent.
This
review of the global food safety testing market is based on a recent
market research report published by Transparency Market Research,
titled “Food Safety Testing Market (Contaminants- Pathogens,
Genetically Modified Organisms, Chemicals, and Toxins; End-use -
Food, Agriculture, and Environment; Technology - q-PCR and d-PCR) -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2017 - 2025.”
For
the study, the market has been segmented as follows:
Global
Food Safety Testing market - By End-use
Food
- Snack Foods
- Meat, Poultry & Sea Food
- Dairy Products
- Bakery & Confectionery
- Fresh & Frozen Fruits & Vegetables
- Frozen Foods
- Others
Agriculture
- Crops
- Seeds
Environment
- Water Testing
- Pesticide & Residue Analysis
- Soil Testing
Global
Food Safety Testing market - By Technology
- q-PCR-Based Testing
- d-PCR-Based Testing
No comments:
Post a Comment