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Food Safety Testing Market Overview, Statistics and Trend Analysis - Competitive Analysis of Dominating Industry Players such as SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd.
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Rising economically motivated adulteration (EMA), owing to high competition and rise in the incidence of food frauds globally, is the prime factor that is expected to boost the growth of the global food safety testing market during the forecast period. In addition, growing demand for processed foods among millennials further fosters the growth of the market.
Chemicals & toxins to take over pathogens by 2025
The report segments the market based on contaminant into pathogens, genetically modified organisms (GMO), chemicals & toxins, and others. The pathogens segment held about 42% of the total market share in 2017 and is projected to maintain its lead position through 2025, which is followed by the genetically modified organisms (GMO) segment. However, the chemicals & toxins segment is estimated to grow at the fastest CAGR of 8.10% during the forecast period.
Processed food segment to continue maintaining its lion's share through 2025
Based on the food tested, the report segments the global market into meat & meat products, dairy & dairy products, cereals, grains & pulses, processed food, and other ingredients. The processed food segment contributed about a one-third share of the total market in 2017 and would continue to maintain its dominance through 2025. In terms of growth, the meat & meat products segment is likely to grow at the fastest CAGR of 7.90%, making it a profitable area for industry players.
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Comprehensive and Competitive Analysis of Dominating Market Players
•SGS SA
•Eurofins Scientific
•Intertek Group plc
•Bureau Veritas SA
•ALS limited
•TUV SUD
•AsureQuality Ltd.
•DNV GL
•Bio-Rad Laboratories
•Laboratory Corporation of America Holdings.
In 2017, the processed food segment was the leading revenue contributor to the global food safety testing market. The processed food segment includes numerous processed products, such as infant formula, packaged food, wine, bakery & confectionery, and other processed food products; hence, there is a large possibility of food adulteration.
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