(Entertainment-NewsWire.com, February 21, 2018 ) The global Food Safety Testing market was valued at USD 3.80 billion in 2016 and is projected to reach USD 7.29 billion by 2025, growing at a CAGR of 7.5% from 2017 to 2025.
This report includes estimations of the market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global food safety testing market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research; some of the sources are press releases, annual reports, and financial journals, and paid databases such as Factiva and Bloomberg. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.
Food contamination as a trend is increasing rapidly. The faults in existing food checking infrastructure are responsible for these problems. With rising consumer awareness regarding quality of food consumed the usage of Food Safety Testing services is expected to grow rapidly.
Market Dynamics: 1. Market Drivers 1.1 Global increase in outbreaks of foodborne illnesses 1.2 Rising instances of chemical contamination of food products 2. Market Restraints 2.1 Lack of food control infrastructure in developing countries
Market Segmentation: The global Food Safety Testing market is segmented on the target tested, technology, and product.
2. By Technology: 2.1 Traditional 2.2 Rapid 2.2.1 Convenience Based 2.2.2 Immunoassay 2.2.3 Polymerase Chain Reaction (PCR) 2.2.4 Chromatography and Spectrometry
3. By Product: 3.1 Infant Food 3.2 Yogurt 3.3 Milk and Milk Powder 3.4 Cheese, Butter and Spreads 3.5 Ice Cream and Desserts 3.6 Others
Competitive Landscape: The major players in the market are as follows: 1. SGS 2. Eurofins 3. Intertek 4. Bureau Veritas 5. TUV SUD 6. ALS Limited 7. TUV Nord Group 8. Laboratory Corporation of America Holdings 9. Merieux Nutrisciences 10. Genetic ID NA 11. Asurequality 12. Microbac Laboratories
