Food safety testing kits Market to Reach US$ 34,142.5 Mn at a CAGR of 7.4% in 2027 | The Insight Partners

According to The Insight Partners has added Latest Report on "Food safety testing kits Market To 2028". Research Report mainly includes Size, Share, growth Factors, sales, Demand, Revenue, Trade, Forecast and Global companies Analysis. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.

The food safety testing kits market size is expected to grow from US$ 22,247.0 million in 2022 to US$ 34,142.5 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2022 to 2028.

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The Prominent/Emerging Players in the Food safety testing kits Market includes:

• SGS SA
• Eurofins Scientific
• Intertek Group Plc
• TÜV SÜD
• AES Laboratories Pvt. Ltd.
• TÜV NORD GROUP
• Bureau Veritas
• ALS Limited
• NEOGEN Corporation
• AsureQuality

Food safety testing kits Market Segment Analysis:
Based on technology, the food safety testing market is bifurcated into traditional and rapid. The rapid segment held a larger market share in 2021 and is expected to register a higher CAGR from 2022 to 2028. The high sales of rapid food safety testing kits is due to low costs, better and faster results, and real-time functionality. Rapid testing is expected to become an integral part of quality control/quality assurance programs in the food industry and regulatory applications across the world.

Food safety testing is a scientific analysis of food products and their contents to find information about various characteristics such as physiochemical properties, composition, and structure. The information is used to determine product safety for consumption. The rising incidence of foodborne illnesses triggers the demand for food safety testing kits. Based on technology, the food safety testing kits market is bifurcated into traditional and rapid. The rapid segment held a larger share of the food safety testing market in 2021, and it is expected to register a higher CAGR during 2022-2028.

The market growth of this segment is attributed to the quick and accurate results obtained from rapid tests.
The demand for various food products is increasing with population growth and rising middle-class population in developing countries. In response to this, the food & beverages industry increasingly focuses on mechanical manipulation and technology to create more value-added products. Changing lifestyles and hectic schedules are leading to increased consumption of ready-to-eat meals. In contrast to many industries that suffered heavy losses and reported stagnancy or low growth in 2020 amid lockdowns enforced during the COVID-19 pandemic, the food & beverages industry reported considerable growth during 2020; especially, the fast-moving consumer goods (FMCG) business recorded double-digit growth in 2020. As many public places, including entertainment sections, were closed to visitors in 2020, the resultant financial savings led to a rise in food consumption.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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