(Entertainment-NewsWire.com, May 12, 2018 ) The market size was estimated to be USD 2.5 billion in 2023 and is anticipated to grow at a CAGR of 7.9% from 2018 to 2023 (forecast period). Due to the increasing number of case of meat adulteration, the identification of animal species in food products has become a crucial concern for the feed and food industry. The manufacturers and retailers are therefore seeking ways to authenticate their products and offer the highest level of confidence possible which is acting as a driver to the market.
Neogen has developed a test to detect raw pork in meat and environmental samples. It detects raw pork and can be used to screen raw and processed raw meats such as burgers and mince with a one minute water-based extraction and five minute test time.
Eurofins acquired International Laboratory Services Ltd, in 2016. This acquisition of International Laboratory Services strengthened the Eurofins stand in the United Kingdom and Ireland Testing market. Therefore, it offered numerous synergies, which are expected to benefit both the company and their clients.
Eurofins has invested more than €22m into its food testing laboratory in Nantes in 2017. The lab extension was in response to the strong growth experienced and expected by company.
Rise in Cases of Food Adulteration and Food Fraud is driving the Meat Speciation Testing Market
The meat speciation testing market is driven by the increased cases of food adulteration and food fraud, strict food regulations and labelling laws, growth in R&D of testing methods and increase in consumer demand for certified meat products. The economically motivated adulteration (EMA) incidents database till date shows about 7.3% cases of food adulteration to fall under the meat and meat products category. Hence, to prevent such cases the demand for meat speciation testing is increasing. Further, the lack of advanced technology, food control systems and infrastructure in developing countries are a few restraints to the meat speciation testing.
Market Segmentation
Based on species, meat speciation testing market has been segmented into cow, swine, chicken, horse, sheep and others. The market for swine was the largest and fastest growing segment, owing to the increased cases of adulteration of swine meat with horse meat and chicken has led to increased quality control for meat products. Based on technology, the meat speciation testing market has been segmented into PCR, ELISA and other molecular diagnostic tests. The PCR testing is the fastest growing segment as comparatively its demand is more than that of ELISA. The first advantage in PCR testing is the use of DNA analysis technology for an accurate determination of meat species in products at even 0.1% levels of detection. Secondly, the PCR technology is an automated approach for testing, thereby, providing quick results, and aiding the decision making process for product recalls. Further, it improves the distribution of certified meat products.
Regional Analysis
The European region holds the highest share in the meat speciation testing market. In addition, the Asia-Pacific region is estimated to be the fastest growing market, during the forecast period (2018-2023), due to the increasing food safety concerns of consumers and the growing market for processed food.
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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). Customization of the Report
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Companies Mentioned:
VWR LLC, Neogen Corporation, Bio-Check, Genetic ID NA, Inc., International Laboratory Services Ltd., AB Sciex LLC, ALS Limited, Eurofins Scientific S.E., Geneius Laboratories Ltd., Genetic Id Na, Inc., LGC Science Group Ltd., SGS S.A., Intertek Group plc, Romer Labs Diagnostic GmbH
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