Food Pathogen Testing Market Trend to 2024 Profiling Bureau Veritas, SGS, Det Norske Veritas, Intertek & More
Stringent safety norms by FDA, FAO and EU have enhanced the product demand. Government support along with rising influence of media reports on diseases caused due to contaminants are the key factors supporting food pathogen testing market size.
Food Pathogen Testing Market size is estimated to exceed USD 5.5 Billion by 2024; according to a new research report.
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Rising health concerns including illnesses, toxicity, and poisoning due to presence of contaminants in edible products has enhanced the product scope. Inclination towards better quality, hygienic and organic products particularly in developed nations will drive the industry demand.
Rapid globalization along with increasing trade of food products has resulted in increased occurrences of transmissible diseases. For instance, bird flu, caused mainly due to consumption of chicken was originated in Italy in 1878.
Changing lifestyles and increasing disposable income particularly in developing economies will propel the food pathogen testing market. For instance, China disposable income has increased from 4.5 billion per capita in 2015 to over 5 billion per capita in 2016.
Technological advancement in tests performed on microorganisms including, polymerase chain reaction and immunomagnetic separation will provide positive outlook for product demand. Lack of awareness about safety regulations among manufacturers is a key challenge for industry demand. Furthermore, high price associated with the tests may hamper the market growth.
Global food pathogen testing market is moderately consolidated due to presence of few industry players. Top three industry players hold around 45% of the global share. Bureau Veritas, SGS, Det Norske Veritas, Lloyds Register Quality Assurance, Genon Laboratories and Intertek are the major industry participants.
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E. coli contaminant is anticipated to generate over 170 million tests by 2024. Severe infections caused by E. coli including bloody diarrhea, anemia and kidney failure has resulted in increased demand for food pathogen testing. Consumption of unpasteurized milk products and improper processed meat have increased the chances of infections.
PCR rapid technology method will witness CAGR at 9% up to 2024. High degree sensitivity, rapid speed and precise & accurate results are the key factors driving the industry demand. Technological advancement and innovations in rapid technology will open new avenues for business growth.
Meat & poultry market will worth over USD 900 million by 2024. Rising incidences of transmissible diseases due to processed meat consumption including H1N1 virus will fuel the product scope. Increasing consumer awareness pertaining to infectious diseases and safety labels will drive the demand.
North America food pathogen testing market will witness gains over 6.5% up to 2024. Increasing investment in pharmaceuticals accompanied by numerous government initiatives to reduce disease occurrences caused due to contaminants will propel the regional demand.
Asia Pacific was valued over USD 700 million in 2016. Changing income trends and improving standard of living along with technological innovations are the key factors driving the industry demand. Rising demand for processed edible products particularly from millennials has enhanced the product penetration.
Related Reports: -
United States Food Pathogen Testing Market Report 2017
This report studies sales (consumption) of Food Pathogen Testing in United States market, focuses on the top players, with sales, price, revenue and market share for each player, covering
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