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Food Pathogen Testing Market Ultimate Analysis By Leading Players - Thermo Fisher Scientific Inc, Agilent Technologies, BIOMERIEUX SA, RapidBio Systems, Inc., ILS Limited
Press release from: Global Market Insights, Inc.
Food Pathogen Testing Market is estimated to exceed USD 5.5 Billion by 2024; according to a new research report by Global Market Insights, Inc.
Necessity to ensure health & safety along with increasing consumer awareness has enhanced the food pathogen testing market growth. Growth in global processed meat & dairy industry along with increasing vegetables consumption will drive the industry demand.
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Rising health concerns including illnesses, toxicity, and poisoning due to presence of contaminants in edible products has enhanced the product scope. Inclination towards better quality, hygienic and organic products particularly in developed nations will drive the industry demand.
Rapid globalization along with increasing trade of food products has resulted in increased occurrences of transmissible diseases. For instance, bird flu, caused mainly due to consumption of chicken was originated in Italy in 1878.
Changing lifestyles and increasing disposable income particularly in developing economies will propel the food pathogen testing market. For instance, China disposable income has increased from 4.5 billion per capita in 2015 to over 5 billion per capita in 2016.
Technological advancement in tests performed on microorganisms including, polymerase chain reaction and immunomagnetic separation will provide positive outlook for product demand. Lack of awareness about safety regulations among manufacturers is a key challenge for industry demand. Furthermore, high price associated with the tests may hamper the market growth.
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Salmonella was valued over USD 1.2 billion in 2016. Increasing occurrences of diet poisoning and other illness, due to presence of salmonella bacteria has enhanced the food pathogen testing market. In 2016, more than 395 million people in India suffered from poisoning due to contaminated meal.
E. coli contaminant is anticipated to generate over 170 million tests by 2024. Severe infections caused by E. coli including bloody diarrhea, anemia and kidney failure has resulted in increased demand for food pathogen testing. Consumption of unpasteurized milk products and improper processed meat have increased the chances of infections.
PCR rapid technology method will witness CAGR at 9% up to 2024. High degree sensitivity, rapid speed and precise & accurate results are the key factors driving the industry demand. Technological advancement and innovations in rapid technology will open new avenues for business growth.
Meat & poultry market will worth over USD 900 million by 2024. Rising incidences of transmissible diseases due to processed meat consumption including H1N1 virus will fuel the product scope. Increasing consumer awareness pertaining to infectious diseases and safety labels will drive the demand.
North America food pathogen testing market will witness gains over 6.5% up to 2024. Increasing investment in pharmaceuticals accompanied by numerous government initiatives to reduce disease occurrences caused due to contaminants will propel the regional demand.
Asia Pacific was valued over USD 700 million in 2016. Changing income trends and improving standard of living along with technological innovations are the key factors driving the industry demand. Rising demand for processed edible products particularly from millennials has enhanced the product penetration.
Global food pathogen testing market is moderately consolidated due to presence of few industry players. Top three industry players hold around 45% of the global share. Bureau Veritas, SGS, Det Norske Veritas, Lloyd’s Register Quality Assurance, Genon Laboratories and Intertek are the major industry participants.
Food pathogen testing market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Tests and revenue in USD Million from 2013 to 2024, for the following segments:
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Food Pathogen Testing Market, By Contaminant
• E. Coli
Food Pathogen Testing Market, By Technology
Food Pathogen Testing Market, By Food
• Meat & poultry
• Fruits & vegetables
• Others (Cereals, raw food materials)
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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