Food Safety Testing Market to Reach US$1304.5 mn by the end of 2025; Rising Incidences of Food Contamination Compel Food Manufacturers to Implement Safety Measures, Says TMR

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Jun 06, 2017, 09:30 ET

ALBANY, New York, June 6, 2017 /PRNewswire/ --

According to the latest market report published by Transparency Market Research titled 'Food Safety Testing Market': Global Industry Analysis and Forecast 2017-2025', globally the revenue generated from food safety testing has been estimated to be valued over US$ 658.5 Mn in 2017, which is projected to increase at a CAGR of 8.9% during the forecast period (2017-2025).

Various factors, right from the rising incidence of food contamination there is a growing demand for food safety testing by food manufacturers. Owing to increasing awareness about foodborne diseases and various technologically advanced techniques and equipment deployed for food safety testing, boosting market growth. The significant expansion of the food and beverage industry, coupled with the growth of the food service industry, has been the primary factor driving the growth of the global food safety testing market, by 2025 end

Over the last decade, 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. Various macroeconomic factors such as rising disposable income and increasing food trade in Asia Pacific region and other developing regions are expected to fuel the demand for food safety testing over the forecast period. Diagnostic test products are primed for sturdy growth over the forecast period, aiding the expansion of the market. The growth of these products can be attributed to the increased inspection of food plants by regulatory bodies.

There are certain factors which might hamper the growth of the global food safety testing market such as lack of uniformity in global regulatory guidelines. 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. Another factor adversely affecting the market growth is budget constraints. Food testing laboratories in developing countries allot low budget and resources due to budget constraints for upgrading food testing equipment and software.

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By contaminants type, the global food safety testing market is segmented into pathogens, genetically modified organisms, chemicals and toxins, and others. Among all the segments, Pathogens segment is estimated to account for 42.5% of market Share, in the overall global food safety testing market, in 2017.

By end-use, the global food safety testing market is segmented into food, agriculture and environment. Among all the segments, food segment is expected to dominate the global food safety testing market by the end of forecast period. Factors such as Increasing awareness regarding genetically modified fruits and vegetables and increasing regulatory restrictions on GMO-derived foods are factors expected to drive growth of this segment over the forecast period.

By technology, the global food safety testing market is segmented into q-PCR and d-PCR. Among technology type, the d-PCR segment is expected to account for high CAGR in the market over the forecast period. q-PCR is expected to closely follow the d-PCR segment during the forecast period.

Some of the major companies operating in the global food safety testing market are Bio-Rad Laboratories, Inc., Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited. Laboratory Corp. of America Holdings, AsureQuality Limited, Bureau Veritas SA, and Scientific Analysis Laboratories Limited.

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The market has been segmented as below:

Global Food Safety Testing market - By Contaminants

Pathogens
- Bacteria
- Viruses
- Fungus
- Others
Genetically Modified Organisms
Chemicals and toxins
Others

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

Global Food Safety Testing market - By Region

North America
Latin America
Europe
Asia Pacific

Middle East & Africa (MEA)

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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