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Assuring Dairy Quality: 2024 Global Market Insights on Dairy Testing
Dairy Testing Market Trends
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According to The Business Research Company's, The dairy testing market size has grown strongly in recent years. It will grow from $5.65 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increasing concerns about food safety, globalization of dairy trade, stringent regulations and standards, rising incidence of foodborne illnesses.
The dairy testing market size is expected to see strong growth in the next few years. It will grow to $8.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to continued emphasis on food safety, increasing dairy consumption, emergence of new contaminants, global trade and supply chain complexity. Major trends in the forecast period include technological innovations, growth in dna testing for authentication, expansion of point-of-need testing, emphasis on non-destructive testing techniques, application of artificial intelligence (ai) and machine learning (ml), focus on allergen testing, increased collaboration and standardization, consumer demand for clean label products.
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Market Drivers and Trends:
The increase in outbreaks of foodborne illnesses is significantly driving the growth of the dairy testing market. Dairy is a significant source of foodborne illness all around the world, with raw and unpasteurized milk, cheese, and ice cream being the most common sources of contamination. Dairy testing ensures that pathogens and spoilage organisms do not affect products and that they are safe for consumption. For instance, in December 2022, according to the European Food Safety Authority, an Italy-based European Union agency that provides impartial scientific guidance and communicates about present and emerging food-chain concerns, the EU saw 4,005 foodborne incidents in 2021, a 29.8% increase over 2020. Hence, the increase in outbreaks of foodborne illnesses is expected to propel the growth of the dairy testing market over the coming years.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
SGS SA, Bureau Veritas SA, Eurofins Scientific SE, Intertek Group plc, TÜV SÜD AG, ALS Limited, Mérieux NutriSciences Corporation, Romer Labs Inc., Microbac Laboratories Inc., PerkinElmer Inc., Dairy Technical Services, Analytica Laboratories Limited, Aspirus Labs Inc., Bio-Rad Laboratories Inc., Charm Sciences Inc., FOSS Analytical A/S, Genetic ID NA Inc., IDEXX Laboratories Inc., ILS Limited, LGC Group Holdings Limited, Marshfield Food Safety LLC, Midwest Laboratories Inc., Neogen Corporation, NSF International, Premier Analytical Services, Q Laboratories Inc, R-Biopharm AG, Silliker Inc., Symbio Laboratories Pty Ltd, VWR International LLC, Yara International ASA
Dairy Testing Market 2024 Key Insights:
• The dairy testing market size is expected to see strong growth in the next few years. It will grow to $8.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Concerns Foodborne Illness Outbreaks Driving Growth In Dairy Testing Market
• Revolutionizing Dairy Testing Through Technological Innovations The Impact Of Dsm's Delvo Phage Test Kit
• Europe was the largest region in the dairy testing market in 2023
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