The global food testing kits market is estimated to be valued at USD 1.68 billion in 2017 and is projected to reach a value of USD 2.38 billion by 2022, growing at a CAGR of 7.2%
NEW YORK, Jan. 24, 2018 /PRNewswire/ --
The food testing kits market is projected to grow at a CAGR of 7.2%
The global food testing kits market is estimated to be valued at USD 1.68 billion in 2017 and is projected to reach a value of USD 2.38 billion by 2022, growing at a CAGR of 7.2%. The food testing kits market is driven by the increasing inclination of customers toward faster and reliable test results and implementation of strict food safety regulations due to the increase in the number of foodborne illnesses in developed countries. The growth in the market is also fueled by the globalization of food trade and growth in preference for on-site testing.
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Implementation of heavy duty on import of test kits in various regions, lack of harmonization of food safety regulations, and lack of food control infrastructure resources in developing countries have been considered as the restraining factors for the market
The pathogen segment is estimated to be the largest segment among targets tested in 2017
The pathogen segment accounted for a significant share in the food testing kits market in 2016. Increase in incidences of foodborne illnesses caused due to pathogens in developed as well as developing countries is one of the major factor responsible for the large market share pf pathogen segment
Immunoassay-based food safety testing kits are estimated to form the largest segment in 2017
The large market share of this segment can be attributed to its technology being used for screening of multiple targets such as pathogens, meat speciation, GMOs, allergens, pesticides, mycotoxins, and other residues.
Also, it one of the most cost-efficient technology and provides rapid test results
Meat, poultry, and seafood products accounted for a significant share and projected to be fastest growing sample tested using food testing kits from 2017 to 2022
The global food testing kits market, by sample, is categorized into meat, poultry, and seafood products; dairy products; packaged food; fruits & vegetables; cereals, grains, and pulses; and nuts, seeds, and spices. One of the major drivers for the large market share and growth of the meat, poultry, and seafood products segment due to strict regulations formulated by leading regulatory authority to help in the maintenance and safety of meat, poultry, and seafood products
North America is estimated to account for a significant share and dominate the food testing kits market in 2017
North America dominated the food testing kits market with a significant share and its market growth is mainly driven by the US, as the country has a large prevalence of allergic population; moreover, it is a large producer, importer, and exporter of different types of meat, food products, and a producer of various crops. Stringent regulations implemented in the region by regulatory authorities also form one of the driving factors for the significant share of this region in the food testing kits market.
The figure below shows the breakdown of the primaries on the basis of the company, designation, and region, conducted during the research study.
- By Company Type: Tier 1 - 38%, Tier 2 - 42%, and Tier 3 - 20%
- By Designation: C level - 45% and D level - 55%
- By Region: Europe - 70%, Asia Pacific - 15%, North America - 10%, and RoW - 5%
The key players such as Thermo Fisher (US), Agilent (US), Eurofins (Luxembourg), bioMérieux (France), and Neogen (US) collectively accounted for a majority of the global food testing kits market. Other players in the market include PerkinElmer (US), Bio-Rad (US), QIAGEN (Germany), EnviroLogix (US), IFP Institut Für Produktqualität (Germany), Romer Labs (Austria), and Millipore Sigma (US).
Research Coverage:
The report focuses on food testing kits for different target tested and regions. It aims at estimating the size and future growth potential of this market across different segments— target tested, technology, sample, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, competitive landscape, recent developments, and key market strategies.
Reasons to buy this report:
• To get a comprehensive overview of the global food testing kits market
• To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions in which the food testing kits market is flourishing
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