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Global Food Safety Testing Market Expected to Grow at a CAGR of 7.2% from 2016 to 2021
 
(May 16, 2018)

LONDON, May 16, 2018 /PRNewswire/ -- Global Food Safety Testing Market Expected to Grow at a CAGR of 7.2% from 2016 to 2021

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The need for food safety dates back to the days of the industrial revolution when the food industry was highly unregulated. The concern still persists but the industry is now a regulated one across the globe.

The rising concerns about the food-borne illness, due to contamination of food with pathogens and other detrimental elements, has led to continuous evolution of the food safety tests at different levels.

As per the data by Academy of Nutrition and Dietetics (U.S.), each year approximately 1 out of 6 Americans (48 million people) fall ill, 128,000 are hospitalized, and 3,000 die from foodborne diseases. Also, global concerns and ongoing incidences regarding genetically modified foods, chemical residues, and other similar issues in foods, had a major impact on the policy-making process in different countries.

The globalization in the food industry is the major challenge in the food safety testing market. Different regional regulations and oversight between countries could result in supply chain uncertainty and will also affect the food safety testing industry.

The report is a compilation of the different segments of the global food safety testing market, including market breakdown by the contaminant, technology, food tested and different geographical areas. Herein, the revenue generated from the different contaminant, namely, pathogen, GMO testing, pesticides, toxins and others; technology, namely rapid and traditional; and food tested, namely meat & poultry, processed food, dairy products, fruits & vegetables and others are tracked to calculate the overall market size.

While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the market. It also includes the key participants involved in the manufacturing and distribution of these products.

The report answers the following questions about the global food safety testing market:
• What was the size, in terms of value ($million) of the food safety testing market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
• What are different contaminant mostly present in the food tested and development initiatives undertaken by the key players in the food safety testing market?
• What was the revenue generation of food safety testing for different technologies in 2016 and what is their growth prospect?
• What is the market size of different food tested, in terms of value and their respective growth prospects and key developments?
• What is the food safety testing market size for different regions, on the basis of various types of technologies and contaminants?
• What are the key trends and opportunities in the market, pertaining to countries included in different geographical regions?
• How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of food safety testing?
• What are the major driving forces that tend to increase the demand for food safety testing during the forecast period?
• What are the major challenges inhibiting the growth of the global food safety testing market?
• What kind of new strategies is being adopted by the existing market players to make a mark in the industry?
• What is the competitive strength of the key players in the food safety testing market by market share analysis?
• Who are the key players in the food safety testing market, along with their detailed analysis and profiles (including company snapshots, their financials, key products & services, and SWOT analysis)?

The report puts special emphasis on the market share of the leading companies in the food safety testing market, owing to the changing paradigms in the industry.

The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the food safety testing market by the players.

The commonly used strategy adopted by the key players to enhance their geographical presence is mergers & acquisition, followed by new product launch. Moreover, the company profiles section highlights significant information about the key companies involved, along with their financial positions, key strategies & developmental activities since the past few years.

Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating in the global food safety testing market are SGS SA, Eurofins Scientific, Intertek Group plc., Bureau Veritas SA , ALS Limited, M้rieux NutriSciences, AsureQuality Ltd, Microbac Laboratories, Inc., Genetic ID NA, Inc., and Laboratory Corporation of America Holdings, among others.

Executive Summary
The need for food safety dates back to the days of the industrial revolution when the food industry was highly unregulated. The concern still persists but the industry is now a regulated one across the globe.

The rising concerns about the food-borne illness, due to contamination of food with pathogens and other detrimental elements, has led to continuous evolution of the food safety tests at different levels. As per the data by Academy of Nutrition and Dietetics (U.S.), each year approximately 1 out of 6 Americans (48 million people) fall ill, 128,000 are hospitalized, and 3,000 die from foodborne diseases. Also, global concerns and ongoing incidences regarding genetically modified foods, chemical residues, and other similar issues in foods, had a major impact on the policy-making process in different countries.

Also, the food & beverage industry continuously strive to strike a balance between providing both high quality products which are safe for consumer consumption and also have a longer shelf life with low amount of preservatives. Striking this balance is not easy due to the high sugar levels of some of the food products which makes them prone to yeast and mold. Food-borne illness outbreaks are occurring even in foods such as fruit juices, fresh produce, which were previously not considered prone to the attacks of harmful elements.

Food safety testing is basically infection and contamination testing in the food production chain to help make sure that food quality and wholesomeness is maintained. As the global food supply increases, the need to strengthen food safety testing systems across the globe is becoming more important. The demand for food safety testing is rising because of the changing food habits, mass catering and globalization of the food supply.

Identifying this current demand of food safety, companies across the globe are relentlessly putting in efforts to provide safety to the food they are manufacturing or supplying. The market involves companies which provide solutions for the detection of contaminants, companies which outsource the food products for testing to the laboratories, and the companies which have their own in-house food testing facilities.

Food safety testing is becoming more common and faster with each passing day. It is estimated that the market will grow at a CAGR of 7.2% from 2016-2021. Food poisoning outbreaks and stringent regulations are supporting the growth of the food safety testing market globally.

The technologies that are being widely used for the testing system include PCR based technique, immunoassay, ELISA, rapid culture detection, biosensors and others. New tests such as gluten sensitivities, intolerance, food fraud, pathogen detection, pesticides, and antibiotics, among others, are also being introduced.

These technologies are witnessing an increase in the usage by the manufacturers and the laboratories because of their faster detection feature which in turn helps in lower food recalls leading to longer shelf life of the food products.

The globalization in the food industry is the major challenge in the food safety testing market. Different regional regulations and oversight between countries could result in supply chain uncertainties and will also affect the food safety testing industry.

As food safety testing becomes more accurate, new technologies might detect contamination that older systems may have missed. But if manufacturers continue employing these testing technologies and fix the safety issues they detect along the food supply chains, recall instances could decline over time.

The growth of this market is driven by certain other factors such as:
• Increasing outbreaks in foodborne illness
• Stringent regulations
• Improved food recalls

However, there are certain challenges that are inhibiting the overall growth for the food safety testing market:
• Cost of food safety testing

The food safety testing market is expected to grow at a CAGR of 7.5% from 2016 to 2021. This growth is attributed to the rising outbreak of foodborne illness, advancements in using the latest technology for the food safety testing, stringent regulations, and globalization of food supply.

Extensive growth in the market is driven by the rising awareness among the consumers about the usage of safe food products along with the need to protect the environment. Further, the rising concerns over global food security and sustainability have led to extensive investments by the governments across the globe. The key players in the global food safety testing market are focusing upon gaining more attention from the consumers by working upon different patterns of testing, enhancing their products to provide better tests.

The trends of the food safety testing market vary with different geographical regions. The food safety testing market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Presently, North America is at the forefront of the food safety testing market, with high penetration in the countries such as the U.S., Canada and Mexico. However, during the forecast period, the Asia Pacific region is projected to display the fastest market growth from 2016 to 2021. The region presents immense scope for market development, owing to the increasing urban population size, and favorable investments by the government, among others.

Competitive Landscape
The competitive landscape for the food safety testing market demonstrates an inclination towards companies adopting strategies such as product launch and development, and partnerships and collaborations. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio.

SGS SA, Eurofins Scientific, Intertek Group plc., Bureau Veritas SA, ALS Limited, M้rieux NutriSciences, AsureQuality Ltd, Microbac Laboratories, Inc., Genetic ID NA, Inc., and Laboratory Corporation of America Holdings, among others, are some of the prominent players in the food safety testing market. The market has presence of a large number of small-sized to medium-sized companies that compete with each other and the large enterprises.

The key players operating in this market have ramped up their merger & acquisition strategy over the recent years, in order to generate public awareness about their existing and new products and technologies, and to compete with the competitors' product portfolio. This has been the most widely adopted strategy by the players in this market.

For instance, in November, 2017 Eurofins Scientific acquired Spectro Analytical Labs Ltd. ("Spectro") to expand their testing services in India.

New product launches have also been significantly employed for expansion in the food safety testing market. With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market.

For instance, October, 2017 Bio rad laboratories Inc. launched iQ-Check Enterobacteriaceae PCR detection kit which is a sensitive and rapid alternative to traditional detection methods. Whereas in November, 2016 3M launched 3MTM Molecular Detection Assay 2-Cronobacter to enhance its molecular detection system pathogen testing platform.

Moreover, extensive R&D activities and appropriate regulatory environments are also a prerequisite for the sustained growth of this market. Various government and private research institutes, and favorable trade policies are putting in substantial efforts to identify the benefits of these food safety testing services for augmenting the global food production. The need for sustainable farming techniques is necessary to bridge the demand & supply gap along with attaining sustainability in the production.

Countries Covered
• U.S.
• North America
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Netherlands
• Italy
• Spain
• Poland
• Rest of the Europe
• Asia-Pacific
• China
• Japan
• India
• Thailand
• Malaysia
• RoW

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