Food Safety Testing Market Estimated to Reach $14,030.2 Million at a CAGR of 7.2% by 2018 - Report by MarketsandMarkets
(PRWEB) August 17, 2014 -- According to new report “Food Safety Testing Market by Contaminants, Technology, Food Types & Geography - Global Trends & Global Forecast to 2018” defines and segments the global food safety testing market with analysis & forecasting of global revenue & volume for food safety testing.
It also identifies driving and restraining factors for the global food safety testing market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).
Browse 234 market data tables with 67 figures spread through 483 pages and in-depth TOC on “Food Safety Testing Market”.
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The global food safety testing market has been growing significantly due to increased outbreak of food poisoning caused due to consumption of contaminated food. Contamination of food can occur due to improper handling of food, contaminated raw materials, inadequate treatment & processing of food, etc. Various regulations, laws, and standards have been implemented to assure safety of food manufactured. GMP, GAP, and HACCP have been practiced by the food companies to manufacture safe and standard quality food products. The food safety testing has been performed during every stage of food supply chain i.e., procurement, processing, packaging, storing, and transporting etc. Globalization in food supply trade and increasing consumer awareness on food safety is considered to be the driving factor for the market.
Amongst all the market segments by contaminants, pathogen testing commands the largest share in terms of value and volume, while GMOs testing leads in terms of growth. In pathogen testing segment, salmonella testing accounts for the major share; followed by listeria testing. Salmonella testing in terms of value accounted for 40% of the overall contaminants testing in 2010. In terms of growth, E. coli testing is witnessing the fastest growth; estimated to grow at a CAGR of 11.05% from 2010 to 2015.
Europe accounts for the major market because of stringent regulations compelling food processors to test for hazardous material and microorganisms in food products. Increasing food poisoning outbreaks will ensure more regulatory guidelines pertaining to food testing in future. Europe accounts for 38% of the global market in 2010. North America is the second largest market for food testing. The technology market which includes the PCR, immunoassay is witnessing double digit growth; that too twice the growth rate of global food testing market. Currently, the market players are focusing on development of new products and applications, which therefore account for the highest share of the total competitive developments in global safety food testing market.
Industry players with the most significant product developments include 3M Microbiology, DuPont Qualicon, Biomerieux, Eurofins, AES Chemunex SA, Celsis International Plc., Charm Sciences Inc., FOSS, GeneScan Europe AG, Neogen Corp., R-Biopharm AG, Strategic Diagnostics, Inc and so on.
In 2012, the food safety testing market was dominated by testing of pathogens, as pathogen contamination was one of the major causes behind the increasing cases of food poisoning. During the same period, most of the food recalls in U.S. were registered due to salmonella contamination. GMO testing is expected to increase further due to the growing concern for safety of genetically modified foods. Market players have been focusing on application of rapid testing methods that provide quick & accurate qualitative & quantitative results on contaminants. In 2012, one more important food safety testing measure dominated the market, the meat and poultry product testing, due to their high susceptibility for microbial contamination.
The global food safety testing market is projected to grow from $9,262.3 Million to $14,030.2 Million at a CAGR of 7.2% by 2018. In 2012, North America was the largest food safety testing market with 40% of share, wherein U.S. dominated this market and is projected to reach $4,004.5 million by 2018. In 2012, meat and poultry accounted for 28% of global food safety testing market. In 2012, rapid testing method was dominated by PCR-based methods that performed 189.1 million tests, followed by immunoassay-based methods.
The leading players in the food safety testing market include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group Plc. (U.K.), and DNV (Norway). These players have focused on introducing new products & services, mergers, acquisitions, and expansion of their business segments to maintain their position in the market.
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Browse related reports:
European Food Safety Testing Market
http://www.marketsandmarkets.com/Market-Reports/european-food-safety-testing-market-1217.html
North American Food Safety Testing Market
http://www.marketsandmarkets.com/Market-Reports/north-american-food-safety-testing-market-1214.html
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