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Food Safety Testing Market Size, Development, Top Manufacturer are SGS SA, Eurofins Scientific, Intertek Group plc, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL

04-01-2020 06:37 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Food Safety Testing Market

Food Safety Testing Market

key Findings of the Food Safety Testing Market :
In 2017, the pathogen testing segment dominated the global food testing market, and it is likely to maintain its dominance over the forecast period.
The processed food segment dominated the global food testing market in 2017, and it is anticipated to grow at a lucrative CAGR of 7.4% during the forecast period, that is, 2018 to 2025.
The meat & meat product segment by the food tested category is anticipated to witness the fastest CAGR of 7.9% in terms of value during the forecast period.
North America led the global food safety testing market in 2017, and is anticipated to witness a CAGR of 6.3% during the forecast period, in terms of value.
By technology, the PCR-based assay segment dominated the food testing market in 2017, and is anticipated to witness the highest CAGR of 7.7% during the forecast period, in terms of value.

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The major companies profiled in this report are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL, Bio-Rad Laboratories, and Laboratory Corporation of America Holdings.

According to a new report published by Allied Market Research, titled, Food Safety Testing Market by Contaminant, Food Tested, and Technology: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global food safety testing market size was valued at $13,144 million in 2017, and is estimated to reach $23,204 million by 2025, registering a CAGR of 7.3% from 2018 to 2025. In 2017, the polymerase chain reaction (PCR) technology segment accounted nearly half of the total food safety testing market share.

Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, sale of food that is unfit and potentially harmful and deliberate misdescription of food.

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Rising economically motivated adulteration (EMA), owing to high competition and rise in 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.

Increasing demand among consumers for fresh and appropriate forms of food products has led to the advent of food safety practices in the food industry. However, high occurrence of foodborne disease outbreaks in several countries, including developed nations such as the U.S., has resulted in increasing concern and intensive investigation of foodborne pathogens. Thus, there is currently an increased demand for microbiological testing of food products. The purpose of a microbiological testing is to identify and restrict growth of harmful microorganisms, which may lead to spoilage of foods, and thus, ensure safety from foodborne diseases. In this report, the global market by technology has been segmented into agar culturing, PCR-based assay, immunoassay-based, and others. Agar culturing is one of the traditional processes to test pathogens. However, currently, PCR-based assay and immunoassay-based methods are more accepted than traditional methods, as ongoing developments have discovered that traditional methods are not suitable for all food products.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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