Dallas, Texas, Dec. 16, 2020 (GLOBE NEWSWIRE) — The “Food Safety Testing Market by Test (Allergen, Chemical & Nutritional, Genetically Modified Organism, Microbiological, Residues & Contamination, Others), End User (Meat, Poultry, & Seafood Products, Dairy & Dairy Products, Processed Food, Beverages, Cereals & Grains, Others) and by Region, Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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In 2019, the global food safety testing market size surpassed USD 18 billion. In addition, it is projected to gather a CAGR of above 7.5% over the forecast years 2020-2028. An increase in cases of chemical contamination in food processing industries due to improper production techniques of processed food is likely to boost demand for food safety testing services over the forecast period. The demand for processed and packaged food products in developed and developing nations is expected to drive the need for safety testing of edible products. Hectic lifestyle, increasing women working population in North America and Europe, and rising sales of quick service restaurants are expected to increase food safety testing market adoption over the coming years.
The report also outlines the various characteristics of the global food safety testing industry by assessing the market from porter’s five forces analysis, PESTEL analysis, and value chain analysis. Moreover, the food safety testing market report comprises various qualitative parts such as market restraints, important market drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global companies.
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In 2019, Europe accounted for the largest market share in food safety testing industry. Presence of well-established food & beverage manufacturers coupled with increasing consumption of processed food in this region will drive the market. Rising prevalence of foodborne diseases in European countries has enforced stringent government policies and regulations regarding food safety for consumers. Some important bodies responsible for imposing food safety regulations in Europe are EU Reference Laboratories, National Reference Laboratories, and Control Laboratories. Asia Pacific is expected to be the fastest growing region for food safety testing industry owing to increased international food & beverages import and export over the past few years. Mandated food safety policies and regulations on international trade in China, Japan, South Korea, and Australia is expected to drive the market in this region.
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The global food safety testing industry is highly competitive in nature as large number of small & medium enterprises and well-established manufacturers are operating in this industry. Prominent players operating in this industry are SGS, EUROFINS, INTERTEK, BUREAU VERITAS, ALS LIMITED, TÜV SÜD, TÜV NORD GROUP, NEOGEN CORPORATION, MÉRIEUX, and ASUREQUALITY. Apart from above mentioned companies, other key companies engaged in food safety testing business are FOOD CHAIN ID, RJ HILL LABORATORIES, MICROBAC LABORATORIES, ROMER LABS, and SYMBIO LABORATORIES. Manufacturers operating in this industry are adopting different actions such as new product development, technological enhancement, partnerships, merger & acquisition, and research & development in order to form strategies to cater growing industry requirement.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Food Safety Testing Market by Test
Chapter 6 Food Safety Testing Market by End User
Chapter 7 Food Safety Testing Market by Region
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
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Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Published at Wed, 16 Dec 2020 07:38:14 +0000