(Entertainment-NewsWire.com, May 11, 2018 ) Orbis Research has announced the addition of the “Global Food Authentication Testing Market-Analysis of Growth, Trends and Forecasts (2018-2023)” to store by company, by country, and by application/type for the competitive landscape analysis. The study of Global Food Authentication Testing Market-Analysis of Growth, Trends and Forecasts (2018-2023) provides the market size information, In-Depth Analysis along with Competitive Insights and Segmentation.
The global food authentication testing is expected to register an estimated CAGR of 8% during the forecast period (2018-2023).
On March 17, 2016, Merieux NutriSciences, introduced a fast, more accurate, modern DNA sequencing technology, to sustain market competition for innovation. Merieux launched the next-generation sequencing test method for authentication testing for premium cheese. The company acquired Lactolab in South Africa, to strengthen its dairy testing capabilities in the country. Adopting powerful technologies and geographical expansion are the leading strategies followed by major players in the market.
Market Dynamics Food authentication testing ensures that the products are safe to consume and free from adulterants. The compliances required by various food regulatory bodies have led to a competitive scenario among international laboratories.
In 2016, NSF International purchased Authen Technologies, to cater to the increased demand for high accuracy DNA-testing. It provides next-generation DNA-based species identification (SI), which is regarded as a more reliable and accurate technology for SI. The need for such innovative techniques comes from the impact of food fraud cases on producers, which in turn is driving the food authentication testing market.
Market Segmentation The market can be segmented on the basis of technology into PCR technique, DNA sequencing/barcoding, Next Generation Sequencing, ELISA, NMR technique/molecular spectrometry, mass spectrometry, and others.
Real-time PCR technique is a gold standard, conventional, and a more reliable method in DNA species detection tests. Its cost-effective testing capability and high accuracy, have aided in its domination of the market share compared to other technologies. This method is highly preferred in the developed regions, for food authentication and food allergen label claims identification. The PCR-based food authentication test market is expected to register a CAGR of 8.3%. Asia-Pacific is expected to be fastest-growing market for the food authentication testing market.
Regional Analysis Countries, such as India and China, dominate the Asia-Pacific region with regard to food adulteration incidences, due to fewer, strict regulatory standards. However, in recent years, the government bodies, of these countries, have imposed strict compliances to prevent food fraud occurrences. The need for product safety, coupled with regulatory requirement, has created significant opportunity for the Food Authentication Testing Market. Eurofins expanded its food testing labs in China, to strengthen its market presence, and seizing the opportunities arising due to food scandals.
North America is the largest market for food authentication testing, while Asia-Pacific is projected to be the fastest-growing market during the forecast period. Researchers say the implementation of the Food Safety Modernization Act (FSMA) in the United States and an extended food authentication action plan implemented in China are attractive opportunities for growth in the food authentication testing market.
MAJOR PLAYERS: EUROFINS, INTERTEK, SGS, MÉRIEUX NUTRISCIENCES, EMSL ANALYTICAL INC., NSF INTERNATIONAL, UK CENTRAL GOVT. LAB, THERMOFISCHER SCIENTIFIC, LGC, RSSL, GENONLABS, CAMPDEN BRI and SCIEX FOOD FRAUD TESTING SOLUTIONS, amongst others.
Reasons to Purchase this Report Analyzing outlook of the market with the recent trends and Porter’s five forces analysis. Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period. Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects. Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market. Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years. Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players. 3 months analyst support along with the Market Estimate sheet (in excel).
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1. Introduction 1.1 Key Deliverables of the Study 1.2 Study Assumptions 1.3 Market Definitions
2. Research Approach and Methodology 2.1 Introduction 2.2 Research Design 2.3 Study Timeline 2.4 Study Phases 2.4.1 Secondary Research 2.4.2 Discussion Guide 2.4.3 Market Engineering & Econometric Modelling 2.4.4 Expert Validation
3. KEY FINDINGS
4. Market Dynamics 4.1 Drivers 4.1.1 Higher Incidences of Food-Fraud Cases 4.1.2 Increased Demand for DNA-Based Tests for Origin Identification 4.1.3 Innovation in Technologies for Better Assesment 4.2 Restraints 4.2.1 High-Cost and Time Consuming Testing Pattern 4.3 Opportunities 4.3.1 Growing Consumer Awareness Due to Food-Borne Illness and Recall of Products 4.3.2 Increasing processed food markets in Developing Countries 4.4 Porter's Five Forces Analysis 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of New Entrants 4.4.4 Threat of Substitute Products and Services 4.4.5 Degree of Competition Continue...
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