Porland,OR, March 12, 2019 (GLOBE NEWSWIRE) --
Allied Market Research published a report, titled, “Food Safety Testing Market by Contaminant (Pathogen, Genetically Modified Organism (GMO), Chemical & Toxin, and Others), Food Tested (Meat & Meat Product, Dairy & Dairy Product, Cereal, Grain, & Pulse, Processed Food, and Others), and Technology (Agar Culturing, PCR-based Assay, Immunoassay-based, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025.” According to the report, the global food safety testing market was estimated at $13.1 billion in 2017 and is expected to garner $23.2 by 2025, registering a growth of 7.3% from 2018-2025.
Growth Drivers and Industry Trends
Rise in economically motivated adulterations (EMA) due to high competition among food producers, increase in instances of food debasement such as presence of harmful chemicals, adulterations, &certification, and implementation of strict regulations related to food fraud have spurred the growth of the market. On the other hand, Lack of food control infrastructure in the developing economies, and complexity in testing techniques harmonization of regulations have happened to curb the growth to some extent. Nevertheless, technological advancements and emerging markets in Asia-Pacific, South Africa, and other countries have created multiple opportunities in the sector.
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Segmentation Analysis of the Industry
By region, the market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). North America accounted for more than two-fifth of the total market share in 2017 and is expected to maintain its dominance throughout the forecast period. Based on food tested, processed food contributed to more than one-third of the total market in 2017 and would retain its top status by 2025. By technology, PCR based assay had nearly half of the total market in 2017 and is anticipated to dominate during the estimate period.
Industry Key Players
The report includes in-depth analysis of the major market players that are currently active in the market, including SGS SA, Eurofins Scientific, Bio-Rad Laboratories, ALS limited, Intertek Group plc, Bureau Veritas SA, TUV SUD, Laboratory Corporation of America Holdings, AsureQuality Ltd., and DNV GL. They are, quite dynamically, investing in their business expansion to cater to the needs of the consumers in the best possible way. Also, they have adopted various strategies such as mergers & acquisitions, collaborations, and partnerships, to grab a strong position in the industry.
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