Portland, OR, July 19, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. food safety testing market was estimated at $4.5 billion in 2020 and is expected to hit $8.5 billion by 2030, registering a CAGR of 6.7% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Implementation of stringent regulations related to food fraud, increase in economically motivated adulterations (EMA) due to high competition among food producers, and surge in instances of food debasement such as adulterations, false labeling, and certification drive the growth of the U.S. food safety testing market. On the other hand, complexity in testing techniques restrains the growth to some extent. However, high-end advancements in technology and emergence of new techniques for easy detection of frauds are expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- Shortage of raw materials, ban on import-export, and disrupted supply chain impacted the U.S. food safety testing market negatively, especially during the initial phase.
- However, the market is anticipated to get back on track soon.
The U.S. food safety market is analyzed across type, food tested, and technology. Based on technology, the PCR-based assay segment contributed to nearly half of the total market share in 2020, and is expected to lead the trail by 2030. The same segment would also cite the fastest CAGR of 7.1% from 2021 to 2030.
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Based on food tested, the processed segment accounted for around two-fifths of the total market revenue in share in 2020, and is anticipated to rule the roost by 2030. The meant and meat product segment would, however, grow at the fastest CAGR of 7.3% from 2021 to 2030.
Based on type, the pathogen segment held the major share in 2020, generating more than two-fifths of the total market. At the same time, the chemical and toxin segment would cite the fastest CAGR of 8.2% during the forecast period.
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The key market players analyzed in the U.S. food safety testing market report include Bio-Rad Laboratories, Inc., TUV SUD AG Eurofins Scientific, Intertek Group Plc, Microbac Laboratories, Inc., Bureau Veritas SA, PCAS Labs, SGS SA, Thermo Fisher Scientific, Inc., and ALS Limited. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
