Globalization of Food Trade to Fuel Demand for Food Safety Products, Says TMR

The global food safety products market is highly fragmented with the focus of most companies on the reduction of equipment cost and time needed for the test. Key players operating in the market include: Covance Inc., Eurofins Central Analytical Laboratories, Genevac Ltd, Hach Company, and Hardy Diagnostics. Although there exist high entry barriers to the market owing to strict regulatory scenarios, new entrants have a lot of freedom to operate in the market. Thus, the threat of new entrants is expected to be medium. The food safety products market is extremely price-sensitive, states a new report by Transparency Market Research (TMR).

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The market is moderately concentrated on a global scale but extremely fragmented on a regional scale. For instance, the regulatory norms in the U.S. is extremely stringent, however they are extremely relaxed in Asia Pacific. The degree of competition is anticipated to be high in the coming years. Companies are patenting their products to gain a competitive edge. Case in point. BioControl Systems Inc has patented its product The Coli Complete, restraining rivals from using products with similar chemical composition.

Growth in Processed Food Market Boosts Demand for Food Safety Products

The expanding food and beverage industry and growing concerns over the quality of food are propelling the global food safety products market. The rising number of disease outbreaks owing to incidences of food poisoning and contamination are also fueling the growth of the market. As per WHO, food borne diseases have caused 2.2 mn deaths in 2010.

The growing processed food market across the globe is aiding the growth of the global food safety products market. Processed foods such as dairy dried processed food, ready to eat meals, baby food, and canned and preserved food require hygiene and sanitation. This is because these products pass through various players in the value chain, thus arising the need for food safety products.

The globalization of food supply trade is another factor that is causing a heightened demand for food safety products. The growing population has caused a rise in the import, export of food products. This in turn has increased the level of adulteration owing to inadequate monitoring and control over the manufacturing units, subsequently giving a rise to the demand for food safety products.

Different Tests Required for Different Food Types Act as Major Challenge for Market Players

The major challenge faced by the global food safety products market is the necessity of having different types of tests for different food products, states TMR. For testing different pathogens and chemicals present in various food products, different tests are required, thus creating a need for technological advancements and upgradation. Lack of food safety awareness in developing countries is another factor restraining the growth of the market. The misalignment in the value chain is yet another challenge gripping the global food safety products and testing industry.

Untapped Asia Pacific Market Offers Huge Growth Opportunities for Companies

The market in Asia Pacific is anticipated to expand at a significant pace owing to the demand for safe food products from consumers of emerging companies such as China and India. These countries are driving the food safety products and testing market in the region. The untapped Asia Pacific market thus, holds lucrative opportunities of growth for market players. Another factor that will open new avenues for growth in the global food safety products and testing market is the integration of players with food diagnostic companies.

By geography, Asia Pacific is expected to lead in the food safety products market by 2018, overtaking North America. Asia Pacific is also expected to emerge as the leading regional segment in the global food safety testing market by 2018. By type, the global food safety products market is expected to be led by the disinfection products segment. By testing method, the rapid method segment is expected to lead in the global food safety testing market in the future.

According to the report, the global food safety products market is expected to be worth US$19.4 bn by 2018. The global food safety testing market is expected to be worth US$4.8 bn by the end of 2018.

This information is based on the findings of a report published by Transparency Market Research titled “Food Safety Products Market and Food Safety Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2010 - 2018.”

The global food safety products and food safety testing market is segmented as follows:

Food Safety Products Market Types:

Disinfection Products
Diagnostic Products
Disposable Gloves
Smart Labels & Tags
Software Tracking Systems

Food Safety Testing Market, by Contaminants:
Pathogens
Pesticides
Genetically Modified Organisms (GMOs)
Toxins
Others

Food Safety Testing Market, by Pathogens:
Listeria
Salmonella
Coli
Campylobacter
Others

Food Safety Testing Market, by Food Types:
Processed Foods
Meat & Poultry
Dairy Products
Fresh & Frozen Fruits & Vegetables
Others

Food Safety Testing Market, by Technology:
Traditional Methods
Rapid Methods

Food Safety Rapid Testing Market, by Types:
Convenience-Based Methods
Immunoassay-Based Methods
PCR-Based Methods
Other Molecular-Based Methods

Food Safety Products Market, by Geography
North America
Europe
Asia-Pacific
Rest of the World (RoW)

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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This release was published on openPR.