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Food Safety Testing Market by Food Tested, Target Tested, Technology And Region - Global Forecast to 2022

Food Safety Testing Market: Target until 2022

  • September 2017
  • 240 pages
  • ID: 5100652
In this report:
The market for food safety in this region is expected to record a relatively low CAGR of ##.##% from 2017 to 2022.
To meet the increasing food demand, global food production has to be increased by ##% by 2050, according to the United Nations FAO.
According to Food Control Volume ##, issue ##, in 2013, pesticides were responsible for ##% of the incidents and ##.##% of illnesses.

Summary

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The food safety testing market is estimated to rise at a compound annual growth rate of ~7.6 percent between 2017 and 2022.

The overall food safety testing market was estimated at ~$12.0B in 2016, and is projected to extend a value of ~$18.5B by 2022, increasing at a compound annual growth rate (CAGR) of ~7.6 percent from 2017. The food safety testing market is influenced by the overall increase in foodborne outbreaks, advancements in testing technologies, globalization of food supply, and stringent international food safety regulations. The lack of food control infrastructure & resources in developing countries and lack of awareness about food safety regulations among food manufacturers have been considered as the restraining factors for the industry.

Rapid technologies are projected form the faster-growing segment during the outlook period.

One of the main drivers for the increase of quick technologies is their multifunctional nature to offer time-efficient and flexible testing options to end users.The growing significance of fast technologies offering easy-to-use, efficient, and fast results has greatly enhanced their functionality.

Incorporating quick technologies offers their end users with increased quality and turnaround time for each test.

GMOs are projected be the quickest-increasing targets tested for food safety during the estimate period.

One of the drivers for the rise of GMOs segment is the increase in consumer concerns about genetically modified organisms in food.Strict food regulations, globally, have made GMO testing a mandatory requirement in different countries.

Also, consumers in developed countries including the US demand more organic food and non-GMOs products, which will further drive the sector for GMO testing.

Asia-Pac (APAC) is projected be the quickest-rising area for food safety testing during the outlook period.

APAC is forecasted to be the quickest-increasing area between 2017 and 2022, due to its big market base for food & beverages, improved standards of living due to the increase in income levels, rised appreciation about food safety, and increase in the number of food safety testing firms in the territory.

Break-up of Primaries:

• By Company category - Tier 1: 35.0 percent, Tier 2: 45.0 percent, and Tier 3: 20.0 percent

• By Description - C-suite: 25.0 percent, Directors: 30.0 percent, and Others*: 45.0 percent

• By Area - North America (NA): 20.0 percent, EU: 25.0 percent, Asia-Pac: 45.0 percent, and RoW: 10.0 percent

*Others contain sales managers, marketing managers, and product managers.

• Microbac Laboratories, Incorporated

• Genetic ID NA, Incorporated

• Laboratory Corporation of America Holdings

Segment Research

The food safety testing market has been split on the basis of technology, food tested, and target tested, which are further divided into their respective subsegments.It has also been broken down on the basis of area into North America continent, Europe (EU), Asia Pacific (APAC), and the Rest of the globe.

In terms of insights, this market research has emphasized several levels of analyses - industry, company profiles of top actors, which together comprise and examine the basic overviews on the competitive landscape, emerging & high-growth segments of the food safety testing market, high-growth areas, territories, drivers, market restraints, and alternatives.

Why acquiring this study can help you:

• To get a comprehensive overview of the overall food safety testing market

• To benefit wide-ranging information about the top actors in this market, their service portfolios, and top strategies approved by the actors

• To benefit business insights about country- and region-based market trends and increase prospects in the food safety testing market

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