Pune, 22, Nov 2022: Food Safety Testing Market Size, Share & Industry Trends Analysis Report by Containment (Pathogens, Pesticides, GMO’s, Toxin, and others), Technology (Agra Culturing, PCR-based assay, Immunoassay-based, others), Food Tested (Meat & meat products, Dairy & dairy products, Cereals, Grain & Pulses, Processed food), Regional Outlook and Forecast, 2022-2029″ report has been added to Maximize Market Research offering. The Food Safety Testing Market size is expected to grow from USD 19.8 billion in 2021 to USD 37.19 billion in 2029, at a CAGR of 8.2 percent for the forecast period from 2022 to 2029.
Food Safety Testing Market Scope and Research Methodology
The report is an in-depth analysis of all the key players in the food safety testing market by share, revenue, market penetration, financial status and region. Current trends prevailing in the food safety testing market are included and historical data is used to forecast growth rate fluctuations to equip stakeholders, investors, market key players and followers about future market conditions. The food safety testing Market is segmented by product, application and end-users for a detailed analysis for understanding the market penetration, competitive structure, pricing and demand analysis. The report aids the formulation of strategic decision-making and finding investment pockets for businesses.
For the competitive landscape, major players and new entrants in the food safety testing market are collated based on the equipment offered, portfolio, technological advancements adopted, mergers and acquisitions, joint ventures and strategic alliances. With each company profile, recommendations are provided on investments and estimations of their market size for the forecast period. New entrants can use the report to understand the future course of the food safety testing market.
The bottom-up approach was used to validate the market size and its estimation by different segments. Data was collected using both primary and secondary data collection methods for the analysis. Methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, marketing professionals, customers and retailers on the demand side and manufacturers, and wholesalers on the supply side were included in the primary methods. Secondary data was methodically collected from a curated selection of sources to ensure the reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the food safety testing market while PESTLE was employed to understand the potential impact of the macro-economic, social, political and technological factors affecting the food safety testing market.
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Food Safety Testing Market Overview
Food safety testing is the method of testing whether the food is safe for consumption based on its microbiological, physical or chemical composition. It employs scientific methods for testing such as elemental analysis, pesticide analysis, to get effective and efficient results that are accurate and reproducible. The food safety testing industry works to reduce the incidence of foodborne diseases by detecting any contamination caused by viruses, parasites, bacteria, mould and for better food product development.
Food Safety Testing Market Dynamics
The ecological health of the planet has been degrading. This has resulted in contamination of air, water and soil. With excessive use of pesticides or muddy water, the food produced by using it is bound of be unsafe. Such concerns about the quality of food is expected to grow the food safety testing market’s demand for the forecast period. Environmental restrictions are getting stringent regarding the use of clean and safe ingredients in foods. This factor is also expected to encourage growth in the food safety testing market.
Urbanisation and development in economies is increasing the demand for packaged and convenience store food products. The world per capita income has been witnessing an increase which has increased people’s capacity to buy commodities. With the markets for preserved foods, dried processed foods, baked goods and other on-the-go foods increasing, the food safety testing market is expected to witness rapid growth for the forecast period.
Scientific advancements in the techniques used in the Food Safety Testing Market are being improved and researched upon. Specialised techniques are being devised to improve the accuracy and efficiency of these tests. Such developments in the food safety testing market are expected to drive the growth.
Food Safety Testing Market Regional Insights
North America held the largest share of the food safety testing market in 2021 of 35.2 percent. Factors driving growth in the region include technological advancements and the rapid adoption of tests in the Food Safety Testing Market. The region also experiences strict food safety norms that positively influences the number of food safety tests. This is especially true for imported goods in the region.
Asia-Pacific region is expected to witness rapid growth for the forecast period. A large number of developing countries nestle in this region. These countries are experiencing economic growth and development that is increasing the consumption rate in this region. The demand is being met with the supply of the food and beverage industry that is growing. This growth is expected to increase the market for food safety testing market growth.
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Food Safety Testing Market Segmentation
- Agra Culturing
- PCR-based assay
By Food tested:
- Meat & meat products
- Dairy & dairy products
- Grain & Pulses
- Processed food
Food Safety Testing Market Key Competitors
- Food Safety Net Services
- Ugene Laboratory Services Pte Ltd.
- Symbio Laboratories
- Intertek Group Plc
- SGS S.A
- Bureau Veritas
- Euro fins Scientific
- TUV SUD
- Kedah Bioresources Corporation
- ALS Limited
- TUV NORD Group
- Pacific Lab
- NEOGEN Corporation
Key questions answered in the Food Safety Testing Market are:
- What is Food Safety Testing?
- What is the growth rate of Freight and Logistics Market during the forecast period?
- What is the nature of competition in Food Safety Testing Market in developed and developing economies?
- Who are the key players in the Food Safety Testing Market?
- Who are the market leaders in Food Safety Testing in Europe
- Who are the market leaders in Food Safety Testing in USA and Canada
- Who are the market leaders in Food Safety Testing in India, China, Japan and South Korea?
- What are the factors affecting growth in the Food Safety Testing Market?
- Who held the largest market share in Food Safety Testing Market?
- What are the factors for the growth of Asia-Pacific region in Food Safety Testing Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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