Hyderabad, India — 03/05/2018 — According to a new market research report ” Food Safety Testing Market by Contaminant (Microbial, GMOs, Metal Contaminants, Pesticides and Residues, Toxins, Food Allergen, and Others), by Food Type (Meat & Poultry, Dairy Product, Processed Food, Beverages, Fruits & Vegetables, and Others), by Technology (Traditional and Rapid) and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016â€“2021)”, published by MarketDataForecastâ„¢. The Global Food Safety Testing market is estimated to approach the valuation of $17.72 billion by 2021 from the 2016's valuation of $12.29 billion with a CAGR of 7.60%. The increasing consciousness about the harmful effects of the unsafe food supply is the main reason behind the growth of this market.
Browse Market Data Tables and Figures spread through 178 Pages and in-depth TOC on “Food Safety Testing Market”
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By Contaminants tested, the Food Safety Testing market to expand its scope rapidly
Under the classification of contaminants tested, the Global Food Safety testing market is segmented into Microbial, GMOs, Metal Contaminants, Pesticides and Residues, Toxins, Food Allergen, and Other contaminants. With the increasing awareness about the new contaminants arising from the rising pollution levels, especially various types of GMOs, this segmentation of the market is likely to expand to include various new segments in the future promoting the market growth.
Processed food to outgrow other segments by Food type, with a high growth rate
By Food Type, the market is segmented into Meat & Poultry, Dairy Product, Processed Food, Beverages, Fruits & Vegetables, and Others food types. Under this segmentation, the Meat & poultry segment currently accounts for the largest market share in the global market. This is because of the wide extent of microbial contaminants that affect the meat. Processed food is projected to have a growth rate that is higher than any other segments.
Hospitals are estimated to command for the largest share of the market during the forecast period
Based on Technology, the market is segregated into Traditional and Rapid. With the onset of newer technology in food testing, the Rapid segment of the market is expected to grow at a high rate and occupy the largest market share globally by the end of the forecast period. This segment includes the sought after features like easy-to-use, quickness, accuracy, and efficiency in food testing, which is the reason behind its high projected growth rate.
Asia-Pacific Food Safety Testing market to witness a high growth rate till 2021
The global market geographically studies under North America, Europe, Asia-Pacific and the Latin America and the Middle East and Africa regions. Presently, North America contributes more than one-third of the global market share, making it the first among all the regions. Europe follows North America in the second position, and the Asia-Pacific region is expected to have a high growth rate owing to the increasing demand for food testing in countries like India and China in the region.
The leading companies dominating the Global Food Safety Testing market include Intertek Group PLC, Silliker Inc., Bureau Veritas S.A., ALS Limited, Eurofins Scientific, and DTS Laboratories. The rising investment in Research & Development in food testing is expected to bring many new players into the market in the recent future.
The scope of the report provides:
The evaluation of the current market for your product or services and the future implications of the market
Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
Equip you with the information providing with the investment opportunities in the industry
Looking for more? If you are in need of a specific research study, we have an expertise in undertaking a customized study and will aid to meet your research requirement to the fullest.
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