The
global food safety testing market has been projected in a report by
Transparency Market Research (TMR) to hold a tellingly fragmented
nature owing to the presence of a number of small and medium-sized
firms competing against the big giants in the business. According to
the researchers, it could be significantly unlikely for a player to
come under consolidation. Only a 20.0% of the total market share had
been bagged by five leading companies of the industry in 2016.
Players could offer premium services to leverage new opportunities
from the potential market landscape for budding firms. Thermo Fisher
Scientific Inc., SGS S.A., and Eurofins Scientific SE are few of the
prominent names in the market.
Download
PDF Brochure @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=312
TMR
has prognosticated the global food safety testing market to post an
8.9% CAGR during the forecast tenure 2017-2025 to bag revenue
earnings worth a more than US$1.3 bn by 2025. In 2017, the market had
been worth a US$0.6 bn. In 2017, pathogens surpassed all other
segments by the contaminant classification while accounting for a
colossal share of 42.5%. By region, Europe could continue with its
dominance in the market considering its 36.3% share attained in 2017.
Market
Rests Hopes on Globalization of Food Supply Chain to Attract Demand
Globalization
of food supply chain has been anticipated to be one of the most
significant factors augmenting the demand for food safety testing in
the current time. The world food safety testing market could gain
impetus on the back of the implementation of stringent food safety
regulations by a number of regulatory authorities. There has been a
rise in the demand for different methods to keep foods safe due to
the rising prevalence of diseases spread through food contamination.
Moreover, food safety has gained a whole lot of prominence in the
recent years because of increasing awareness created with the use of
media.
While
the above factors have been expected to substantially catapult the
growth of the world food
safety testing market, there could be other reasons projected
to improve growth in the coming years.
Unavailability
of Ideal Infrastructure for Food Administration Dents Growth
Lack
of proper food administration infrastructure could paralyze the
growth of the international food safety testing market in the near
future. Moreover, limitations on the part of resources required for
arranging a controlled food infrastructure and a related safety
environment could hamper market growth as predicted by TMR analysts.
Yet, there could be more factors hindering the demand for food safety
testing. For instance, today, people are unaware about the harmful
consequences of ignoring food safety tests.
However,
the advent of new and advanced technologies for food safety testing
could accelerate growth in the coming years. Furthermore, there could
be some rewarding prospects available in developing economies as a
result of improving awareness about food safety testing.
The
information presented in this review is based on a TMR report, titled
“Food Safety Testing Market (Contaminant - Pathogens (Bacteria,
Viruses, and Funguses), Genetically Modified Organisms, Chemicals,
and Toxins; End Use - Foods (Snack Foods, Meat, Poultry, and Sea
Foods, Dairy Products, Bakery and Confectionery, Fresh and Frozen
Fruits and Vegetables, and Frozen Foods), Agriculture (Crops and
Seeds), and Environment (Water Testing, Pesticide and Residue
Analysis, and Soil Testing); Technology - q-PCR-based Methods and
d-PCR- based Methods) - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2017 - 2025.”
Key
Takeaways
- Limited resources available for setting up a controlled food infrastructure impede market growth.
No comments:
Post a Comment