Food Safety Testing Market trends in 2021 - prepare for a year of new opportunities
As per a Research Dive latest report, the global food safety testing market is estimated to generate $32,100.0 million and grow at a CAGR of 7.3% during the forecast period from 2019 to 2026.
Europe food safety testing market is projected to have dominant position throughout the forecast period mainly due to the increasing occurrence of food borne diseases coupled with the growing demand for food testing in the region.
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Key Segment Takeaways of the Market:
The report segments the global food safety testing market into Technology, Type, Contamination, and Region.
• By technology, the overall market is bifurcated into rapid and traditional. Of these, the rapid technology segment is predicted to grow at a significant rate by the end of 2026 owing to growing incidences of food borne diseases.
• By type, the global market is segmented into meat, seafood, poultry, dairy, grain, cereal, processed food, and pulse. Among these, the meat, seafood, and poultry segments are anticipated to witness significant growth during the forecast period mainly because these food products can be simply observed during packaging and processing.
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• By contamination, the global market is classified into toxins, chemicals, pathogens, and others. Among these, the pathogens segment is projected to hold the largest share in the global market over the forecast period mainly due to the ongoing developments in technology.
• By region, the overall industry is divided into Asia Pacific, North America, LAMEA, and Europe. The Asia Pacific and Europe regions are expected to grow at a considerable rate in the forecast period owing to the increasing healthcare expenditure and growing prevalence of monogenetic diseases.
Major Market Players
The prominent players of the global food safety testing market include Bureau Veritas S.A, ALS Limited, DTS Food Laboratories, Covance, Charles River Laboratories International Inc., Genetic ID, and Eurofins Scientific. Further, the report outlines several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio.
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