The global market for food safety testing is a highly fragmented one due to presence of several small and medium sized companies that are competing with large players. In 2016, the top five players in the global food safety testing market accounted for mere 20% of the overall share in the market and it is highly unlikely for any company to come under consolidation. That being mentioned, the players in operating in the global market are expected to benefit from the new opportunities by offering premium services in the potential market landscape of upcoming companies. Some of the key players in the global food safety testing market include names such as Eurofins Scientific SE, SGS SA, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, and Intertek Group Plc. among others.
The global market for food safety testing stood at an overall valuation of US$0.685 bn in the year 2017. However, the valuation is expected to rise significantly and reach a figure worth US$1.3 bn over the course of the given forecast period of 2017 to 2025. This growth is expected to be achieved with the help an impressive CAGR of 8.9% over the same period of forecast. The key players in the global food safety testing market are expected to concentrate upon more attention from the consumers by keeping a close eye on the rapidly altering patterns of testing, enhancing their products at the same time so as to offer precise tests. Establishing a strong brand is also projected to aid these market players to sustain their client base.
Implementation of Strict Rules for Food Safety to Drive Market Growth
There are a various factors that are vital for the growth of the global food safety testing market. One of the important factors responsible for driving the development of the global food safety testing market include globalization of supply chain of food. Implementation of strict food safety rules by various regulatory agencies is also expected to drive the overall development of the global food safety testing market. This, backed by growing incidences of outbreaks and diseases spread through food is also driving the demand for ways of keeping food safer. In addition to this, media impact on the customers is creating more awareness about the safety of food. It is expected to considerably propel the growth of the global market for food safety testing. Furthermore, with upcoming new and advanced technologies which have significantly accelerated the processes of testing is also helping in augmenting the growth of the global market.
Lack of Food Control Infrastructure to Hamper Market Growth
However, there are certain factors that may have a negative impact on the growth of the global food safety testing market. One of the key restraining factor for the growth of the global market is the lack of a clear infrastructure for food administration. In addition to this, resources available for setting up a controlled food infrastructure and related safety environment is also limited. It is also expected to significantly hamper the growth of the global market for food safety testing. Furthermore, there is a limited awareness among the customers about the hazardous effects of skipping safety tests on food.
Nonetheless, the players in the global market for food safety testing are expected to benefit from the new opportunities that are expected to arise in the emerging markets as well the increasing awareness among customers.
The information presented in this review is based on a Transparency Market Research report, titled, “Food Safety Testing Market (Contaminants- Pathogens, Genetically Modified Organisms, Chemicals, and Toxins; End-use - Food, Agriculture, and Environment; Technology - q-PCR and d-PCR) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
Food Safety Products Market, by Types:
- Disinfection Products
- Diagnostic Products
- Disposable Gloves
- Smart Labels & Tags
- Software Tracking Systems
Food Safety Testing Market, by Contaminants:
- Genetically Modified Organisms (GMOs)
Food Safety Testing Market, by Pathogens:
Food Safety Testing Market, by Food Types:
- Processed Foods
- Meat & Poultry
- Dairy Products
- Fresh & Frozen Fruits & Vegetables
Food Safety Testing Market, by Technology:
- Traditional Methods
- Rapid Methods
Food Safety Rapid Testing Market, by Types:
- Convenience-Based Methods
- Immunoassay-Based Methods
- PCR-Based Methods
- Other Molecular-Based Methods
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453