Press release
Meat Speciation Testing Market Size, Share, Growth 2024-2033
The new report published by The Business Research Company, titled ""Meat Speciation Testing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the meat speciation testing market size has grown strongly in recent years. It will grow from $2.04 billion in 2023 to $2.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The meat speciation testing market size is expected to see strongly grown in the next few years. It will grow to $3.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
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Rising Food Fraud Cases Fueling Expansion Of Meat Speciation Testing Market
The increase in the number of food fraud cases is expected to propel the meat speciation testing market going forward. A food fraud case refers to a situation when a food supplier purposefully misleads a consumer about the nature and composition of the items they buy. The growing food fraud cases require manufacturers to test their products for the presence of various meat species to provide quality foods for their customers. For instance, in January 2022, Springer Science, a Germany-based media company, estimated that approximately 73.0% of enterprises were involved in food fraud cases worldwide. Food theft costs between $10 and $15 billion annually and affects 1% of the global food business. Therefore, the increase in the number of food fraud cases is driving the growth of the meat speciation testing market.
Technological Innovation Revolutionizing Meat Speciation Testing Market Presence
Technological innovation is a key trend in the meat speciation testing market. Major players are focusing on developing novel genomic technologies to maintain their position in the meat speciation testing market. For instance, in September 2022, Neogen Corporation, a US-based food safety company that develops testing kits, launched the Encompass platform based on genomic management technology. The Encompass platform is a structured format that enables the design of custom views and indexes to focus on genetic data tailored to the required needs. By using this technology, genomic data can be sorted and used by beef and dairy farmers for herd management and selection to perform genomic testing to detect meat adulteration.
The meat speciation testing market covered in this report is segmented -
1) By Technology: PCR, ELISA, Other Molecular Diagnostic Tests
2) By Form: Raw, Cooked, Processed
3) By Species: Cow (Bos taurus), Swine (Sus scrofa), Chicken (Gallus gallus), Horse (Equus caballus), Sheep (Ovis aries), Other Species
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Major companies operating in the meat speciation testing market report are Eurofins Scientific SE, ALS Limited, VWR International LLC, Neogen Corporation, LGC Science Group Ltd., AB Sciex LLC, SYNLAB GmbH, Intertek Group plc, International Laboratory Services, SGS SA, Bio-Check UK Ltd., Minerva Biolabs GmbH, Romer Labs Holdings GmbH, Bureau Veritas Group, Mérieux NutriSciences Corporation, QIMA Limited, Scientific Analysis Laboratories, Environmental Monitoring Systems Laboratory Analytical Inc., Microbac Laboratories, AsureQuality Limited, Symbio Laboratories Inc., David Berryman Limited, Eurofins Scientific, Geneius Laboratories, R-Biopharm AG, Randox Laboratories Ltd., PerkinElmer Inc., Biorex Food Diagnostics, Foss A/S, ELISA Technologies Inc., IDEXX Laboratories Inc., Genetic ID NA Inc., Thermo Fisher Scientific Inc.
Contents of the report:
1. Executive Summary
2. Meat Speciation Testing Market Report Structure
3. Meat Speciation Testing Market Trends And Strategies
4. Meat Speciation Testing Market - Macro Economic Scenario
5. Meat Speciation Testing Market Size And Growth
…..
27. Meat Speciation Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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