Press release
Food Safety Testing Market is expected to reach USD 11.5 billion by 2025 | Key players are Eurofins, Silliker Inc., SGS Group, Biorad Laboratories, Bureau Veritas, ALS Limited, Mérieux NutriSciences, TÜV SÜD and AsureQuality
Food Safety Testing Market
The food supply and the quality of food are in constant danger around the world and there is a growing demand for effective test products that can guarantee food safety. The practice of food safety testing has gained considerable importance in recent years, due to the increasing incidence of foodborne diseases and poisoning by contaminated food products. This requires a strong and effective system to guarantee food security.
The Food Safety Testing Market is estimated to grow at a CAGR of 7.2% from 2018 to 2025 to reach USD 11.5 billion by 2025.
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Drivers and restrictions:
The food safety testing market is expanding with considerable growth potential over the next five years. The development of the market is mostly determined by factors such as rise in the number of growing demand for pathogen testing, better consumer cognizance, globalization of the food business and strict procedures. Companies involved in the production and flow of food products are directed by the respective regional and international supervisory bodies, to implement food safety examination and accreditation. Though the time taken and excessive cost of the testing process are the key aspects limiting the growth of this market.
Geographic Segmentation:
On the basis of geography, the Food Safety Testing Market has been divided into regions like Europe, North America, Latin America, Asia pacific and Middle East Asia. The Market has been mainly dominated by North America, accounting for around 37% of worldwide market followed by Europe. The major companies which are leading the market such as food safety testing manufacturers, suppliers, and formulators, food safety testing technology traders, suppliers, and distributors, research & development organizations, professional food testing providers, government authorities and agencies related to public health, environment, and agriculture.
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Key Players:
Some of the key players of Food Safety Testing Market are Eurofins, Silliker Inc., SGS Group, Biorad Laboratories, Bureau Veritas, ALS Limited, Mérieux NutriSciences, TÜV SÜD, AsureQuality, Microbac Laboratories, Genetic ID NA and Interteck Group plc are some of the leading contributors to the global food safety testing market.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.
The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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