(Entertainment-NewsWire.com, November 14, 2017 ) Global Food Testing Market is anticipated to grow at a 7.60% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 12.85 billion in 2016 and is relied upon to achieve USD 18.53 billion by 2021.
Food safety is a primary concern for consumers owing to the constant threat of foodborne illness. Food testing is essential to achieve a certificate of analysis of raw food products and ready to eat foods at numerous stages of food processing. Customers are provided with food safety labels on food products to safeguard quality and safety of products. As per World Health Organization (WHO), over 2.5 million people died from diarrheal diseases in 2014 due to contaminant diet. In the U.S., approximately 75 million cases are witnessed for the same each year which is resulting in over 325 thousand hospitalizations and nearly 5 thousand deaths.
Factors such as rapid increase in foodborne illness outbreaks, globalization of food supply, implementation of stringent food safety regulations, media influence on consumer awareness regarding food safety, and availability of advanced technology which has significantly quickened up the testing process are anticipated to drive the market growth. However, the lack of food control infrastructure, limited resources in emerging economies, and moderate awareness among the consumers are some of the restraints faced by this market. Nevertheless, the vendors operating in the global food safety testing market are expected to gain new opportunities in the developing countries due to an increase in the awareness among the consumers.
The global market for Food Testing is segmented into food tested and target tested. On the basis of food tested, it is segmented into Meat & Poultry, Dairy, Processed Foods, and Fruits & Vegetables. On the basis of target tested, it is segmented into Pathogens, Pesticides, GMOs, and Toxins. The pathogen segment is estimated to account for the largest market share in the food safety testing market. E. coli, Listeria, Salmonella, and Campylobacter are some of the main pathogens responsible for food contamination and toxicity. They account for major contaminants found in food and account for a major number of food safety testing. An increase in the instances of foodborne illness, globally, due to pathogen outbreaks is driving the pathogen segment. On the basis of technology, it is segmented into Traditional and Rapid. In accurate quantitative results, along with risk to perishable food spoilage due to time consuming traditional testing process is a key factor driving the industry towards advanced and upgraded technologies. PCR-based techniques, biosensors, ELISA, Immunoassay and rapid culture detection are repeatedly used technologies in the food testing market. Efficiency to monitor the count, type, and metabolites micro-organisms pertaining to spoilage, preservation, fermentation, safety, and pathogens are key features fueling technology adoption.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific and Middle East and Africa. North America held the largest share of the market followed by Europe. U.S. food safety testing market size accounted for a large share of the regional demand. High medical expense pertaining to contaminant illness along with GMO food industry expansion are key trending factors boosting the regional growth. Canada Food Inspection Agency has enlarged its arms for monitoring chemical residues and ensuring health safety by complying at an allowable level. The initiative from government has turned to be optimistic for the growth of this market. It has been reported that Canada has witness highest E. coli cases. These quality measures have fueled industry growth in North America. U.K. and Germany led the food testing market in Europe. Around one million people suffer contaminant illnesses and over 20 thousand people receive hospital treatment due to food borne illness per year in the U.K. Efforts to reduce such outbreak, both government, and consumers supporting regional industry growth. An increase in the food safety protocol compliances in Europe and North America positively influenced China food safety testing market owing to retain export trade.
Some of the major companies dominating the market are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS Limited, Mérieux NutriSciences, TÜV SÜD, TÜV Nord Group, AsureQuality Ltd, Microbac Laboratories Inc., Genetic ID NA Inc., and Laboratory Corporation of America Holdings.
Market Segmentation: Technology • Introduction • Traditional I. Agar Culturing • Rapid i. Convenience-Based Assay ii. Pcr-Based Assay iii. Immunoassay-Based iv. Other Molecular-Based Tests • Y-o-Y Growth Analysis, By Technology • Market Attractiveness Analysis, By Technology • Market Share Analysis, By Technology
Target Tested • Introduction • Pathogens i. E. Coli ii. Salmonella iii. Campylobacter iv. Listeria v. Other Pathogens • Pesticides I. Regulatory Monitoring of Human Food • GMOs I. Approved GM Varieties & Traits in the US a. GM Varieties, By Crop b. GM Varieties, By Trait • Toxins • Other • Y-o-Y Growth Analysis, By Target Tested • Market Attractiveness Analysis, By Target Tested • Market Share Analysis, By Target Tested
Scope of the report: • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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