LONDON, Feb. 2, 2017 /PRNewswire/ -- "The meat speciation testing market projected to grow at a CAGR of 8.20%"
The meat speciation testing market is projected to reach 2,220.6 million by 2022 at a CAGR of 8.20% from 2016. The market is driven by factors such as increase in number of adulteration and food fraud cases, religious beliefs, compliance with labeling laws, and stringent regulations and consumer demand for certified products. Lack of food control systems, technology, infrastructure, and resources in developing countries are the major restraints for this market.
"Swine (Sus scrofa) is projected to be the largest segment in the meat speciation testing market by 2022"
The swine segment accounted for the largest market share in the meat speciation testing market, due to the increase in number of adulteration of swine meat with horse meat and chicken, which has led to a desire for increased quality control for meat products. Detection of undisclosed animal species in swine meat products is important to not only protect the consumers from fraud, but also to respect the religious beliefs and cultural preferences of the consumers.
"PCR segment led the market with the largest share in 2015"
PCR was the dominant technology used in meat speciation testing and the market for the same is projected to grow at a highest CAGR in the next five years.
Significant growth in adoption of this technology for meat speciation testing can be attributed to drawbacks of the ELISA (enzyme-linked immunosorbent assay) technology; wherein DNA analysis is conducted by the technology for accurate determination of meat species in products even at 0.1% levels of detection.
Another advantage of PCR technology is the automated approach to testing, which provides quick results, and aids the decision making process for product recalls, further distribution of meat products, and other related strategies) of related stakeholders.
"The raw form is projected to be the largest and fastest-growing segment by 2022"
The raw form is projected to be the largest and the fastest-growing segment. This is attributable to the fact that the domestic consumption of meat as well as the meat trade in raw form is very high, due to which the testing of meat in raw form is also the largest as well as the fastest-growing.
"Europe led the market with the largest share in 2015"
Europe was the largest meat speciation testing market in 2015. Increase in awareness, stringent food safety laws, and rise in meat trade are driving the meat speciation testing market in Europe. Asia-Pacific is projected to be the fastest-growing region. Growth in this region is driven by various rules & regulations implemented by different countries in the region. Food security standards are getting stringent year-on-year to ensure safer supply of food to individuals in local and foreign countries.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
- By Company type: Tier 1 – 40%, Tier 2 – 50%, and Tier 3 – 10%
- By Designation: Manager Level – 60%, C-Level – 40%
- By Region: Europe – 73%, Asia-Pacific – 18%, and North America – 9%
Key players include the following:
- VWR International LLC (U.S.)
- Eurofins Scientific SE (Luxemburg))
- ALS Limited (Australia)
- Neogen Corporation (U.S.)
- LGC Science Group Ltd. (U.K.)
The above-mentioned companies have collectively accounted for the largest portion of the meat speciation testing market in 2015. Other players also have a strong presence in this market. These players are as follows:
- Genetic ID NA, Inc. (U.S.)
- International Laboratory Services Ltd. (U.K.)
- AB Sciex LLC (U.S.)
- Geneius Laboratories Ltd. (U.K.)
- Scientific Analysis Laboratories (U.K.)
The key players in the meat speciation testing market adopted new service launches as their key growth strategy to increase their market share and profits. New service launches accounted for the highest percentage of the total developments, followed by expansions & investments.
The report provides a picture on the meat speciation testing market across different applications verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as species, technology, form, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall meat speciation testing market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
Download the full report: https://www.reportbuyer.com/product/4666420/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48