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The food safety testing market is projected to grow at a CAGR of 7.60% between 2017 and 2022.
The global food safety testing market was valued at USD 12.01 billion in 2016, and is projected to reach a value of USD 18.54 billion by 2022, growing at a CAGR of 7.60% from 2017. The food safety testing market is driven by the global rise in foodborne outbreaks, advancements in testing technologies, globalization of food supply, and stringent international food safety regulations. The lack of food control infrastructure resources in developing countries and lack of awareness about food safety regulations among food manufacturers have been considered as the restraining factors for the market.
Rapid technologies are projected form the fastergrowing segment during the forecast period.
One of the major drivers for the growth of rapid technologies is their multifunctional nature to offer timeefficient and flexible testing options to end users. The increasing significance of rapid technologies offering easytouse, efficient, and quick results has greatly enhanced their functionality. Incorporating rapid technologies provides their end users with increased quality and turnaround time for each test.
GMOs are projected be the fastestgrowing targets tested for food safety during the forecast period.
One of the drivers for the growth of GMOs segment is the rise in consumer concerns about genetically modified organisms in food. Strict food regulations, globally, have made GMO testing a mandatory requirement in several countries. Also, consumers in developed countries such as the US demand more organic food and nonGMOs products, which will further drive the market for GMO testing.
Asia Pacific is projected be the fastestgrowing region for food safety testing during the forecast period.
Asia Pacific is projected to be the fastestgrowing region from 2017 to 2022, due to its large market base for food beverages, improved standards of living due to the rise in income levels, increased awareness about food safety, and growth in the number of food safety testing companies in the region.
Breakup of Primaries:
By Company Type Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By Designation C level: 25%, Directors: 30%, and Others*: 45%
By Region North America: 20%, Europe: 25%, Asia Pacific: 45%, and RoW: 10%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report are as follows:
SGS SA Switzerland
Eurofins Scientific Luxembourg
Intertek Group plc UK
Bureau Veritas SA France
ALS Limited Australia
Mrieux NutriSciences US
TV SD Germany
TV Nord Group Germany
AsureQuality Ltd New Zealand
Microbac Laboratories, Inc. US
Genetic ID NA, Inc. US
Laboratory Corporation of America Holdings US
The food safety testing market has been segmented on the basis of technology, food tested, and target tested, which are further divided into their respective subsegments. It has also been segmented on the basis of region into North America, Europe, Asia Pacific, and the Rest of the World RoW. In terms of insights, this research report has focused on various levels of analysesindustry analysis, company profiles of top players, which together comprise and discuss the basic views on the competitive landscape, emerging highgrowth segments of the food safety testing market, highgrowth regions, countries, drivers, restraints, and opportunities.
Reasons to buy this report:
To get a comprehensive overview of the global food safety testing market
To gain wideranging information about the top players in this industry, their service portfolios, and key strategies adopted by the players
To gain insights about country and regionbased market trends and growth prospects in the food safety testing market
Original Article: Food Safety Testing Market by Food Tested Meat Poultry, Dairy, Processed Foods, and Fruits Vegetables, Target Tested Pathogens, Pesticides, GMOs, and Toxins, Technology Traditional and Rapid, and Region Global Forecast to 2022 [Report Updated: 07092017NEXT ARTICLE
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