(Entertainment-NewsWire.com, January 09, 2018 ) The North America Food Safety Testing Market was worth $4.53 billion in 2016 and estimated to be growing at a CAGR of 7.20%, to reach $6.41 billion by 2021. The exercise of food safety testing has gained significant meaning over the past few years in view of rising cases of food-borne diseases and poisoning caused by impure food products.
Microbial pathogens such as bacteria, food allergens, viruses, and agricultural chemicals can harm consumers, if unchecked. Shortcoming in treating and processing the food to put an end to toxins and other impurities, incorrect handling of food and polluted input food materials are the key factors that cause food contamination.
The growth of the North America Food Safety Testing market is largely due to the increase in the number of foodborne illnesses, growing demand for pathogen testing, strict procedures, better consumer cognizance and globalization of the food business. Rising public concerns over the safety of GM products is another major factor advancing the growth of the market. However, time consumed and excessive cost of the testing procedure are the significant factors restricting the growth of this market.
The North America Food Safety Testing Market is segmented based on contaminants tested, food type, and technology. On the basis of contaminants tested, the North America Food Safety Testing market is segmented into Microbial, GMOs, Metal Contaminants, Pesticides and Residues, Toxins, Food Allergen, and Others. Microbiological testing holds the largest part of the market due to its safety testing in almost all food products. On the basis of Food Type, the market is segmented into Meat & Poultry, Dairy Product, Processed Food, Beverages, Fruits & Vegetables, and Others. On the basis of Technology, the market is segmented into Traditional and Rapid. Meat and poultry are the important segments in this market, whereas processed foods are the fastest growing segment. The rapid technology segment is anticipated to grow at the highest CAGR and it is due to the development of testing methods. The standing of this segment is rising due to its quick, accurate, efficient, and easy-to-use features.
The North America market has been geographically segmented into US and Canada. The USA leads the market in this region with a share of almost 68%. Pathogen testing is the biggest food testing method implemented in this region, with processed food being the largest category of food tested for contaminants. However, the market for GMO testing is expected to post the fastest growth during the forecast period. The North America market is very modern and is focused on innovating cost-effective techniques. Companies are committed to research, sourcing, and quality, factors that are central to the success of the industry.
The major companies dominating the market in this region are Bureau Veritas S.A., ALS Limited, Eurofins Scientific, Intertek Group PLC, Silliker Inc., and DTS Laboratories. Significant strategies such as investments in R&D are being employed by major companies to meet the rising demand for Food Safety Testing.
The North America Food Safety Testing Market study offers the following deliverables:
North America, 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 North America 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 Porters 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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