According
to the findings of a recent intelligence study by Transparency Market
Research (TMR), the global
food safety testing market is highly fragmented between a
large numbers of small- and medium-sized vendors. The report has
detected that in 2016, the top five companies reserved merely 20% of
the overall market and the consolidation of any company is quite
unlikely in the near future. That being said, the companies operating
in the global food safety products market will gain new opportunities
by providing premium services in the potential market of emerging
companies.
As
per the estimations provided the by the TMR report, the demand in the
global food safety market will increment at a robust CAGR of 8.9%
during the forecast period of 2017 to 2025, reaching a valuation of
US$1.3 bn by the end of 2025, significantly up from its evaluated
worth of merely US$658.5 mn in 2017. The prominent vendors in the
food safety market are expected to emphasize on gaining consumer
attention by keeping close watch on the rapidly changing testing
patterns, improving their products at the same time in order to
provide accurate tests. Establishing a brand name is also expected to
help these vendors to sustain their consumer base. The report
identifies Thermo Fisher Scientific, Inc, Intertek Group Plc, Bio-Rad
Laboratories, Inc., Eurofins Scientific SE, and SGS SA as some of the
key companies currently operating in the global food safety testing
market.
Genetically
Modified Organisms Segment Projected for Robust Growth Rate
Based
on contaminants, the TMR report segments the global food safety
testing market into pathogens, genetically modified organisms, and
chemicals and toxins. The pathogens segment has been sub-segmented
into bacteria, fungus, and viruses, and currently is most profitable,
accounting for 42.5% of the demand in the overall market in 2017. The
prosperity of this segment is primarily attributed to the escalating
requirement for testing bacteria such as E.coli and salmonella, which
has been found out to be at the backbone of a number of food
contamination-related illnesses. On the other hand, genetically
modified organisms segment is also projected to gain added demand at
a strong CAGR of 8.9% during the forecast period of 2017 to 2025.
This shift will be a reflection of growing awareness regarding
genetically modified fruits and vegetables, which face strict
regulatory policies.
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more information on this report, fill the form @
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Europe
Remains Most Lucrative Region
Geographically,
this report takes stock of the potential of food safety testing
market in every important region, including North America, Europe,
Asia Pacific, Latin America, and the Middle East and Africa (MEA). In
the present scenario, the developed regions of North America and
Europe are most profitable, collectively accounting for 64.6% demand
in 2017, with Europe serving slightly greater demand than North
America. Growing incidences of food contamination, advancements in
food testing methods and technologies, and strict regulation are some
of the factors augmenting the demand for food safety testing from
these two regions. On the other hand, Asia Pacific is expected to
turn into a highly lucrative region towards the end of the forecast
period, projected for 8.5% growth rate due to increasing food trade
in this region.
Increase
in Contamination-caused Illness Driving Demand
Some
of the key factors driving the demand in the global food safety
testing market are: worldwide increase in foodborne illness
outbreaks, globalization of food supply, implementation of stringent
food safety regulations, media influence on consumer awareness
regarding food safety, and availability of advanced technology which
has significantly quickened up the testing process. On the other
hand, the lack of food control infrastructure, limited resources in
emerging economies, and moderate awareness among the consumers are
some of the restraints faced by this market. Nevertheless, the
vendors operating in the global food safety testing market are
expected to gain new opportunities in the developing countries as
well as via increasing awareness among the consumers.
The
information presented in this review is based on a Transparency
Market Research report, 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.”
Key
segments of the Global Food Safety Products and Food Safety Testing
Market:
Food
Safety Products Market, by 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
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