Global Food Safety Testing Market: Trends and Forecasts up to 2023

Global Food Safety Testing Market: Trends and Forecasts up to 2023

INFINIUM GLOBAL RESEARCH

Global Food Safety Testing Market: Trends and Forecast -2023

INTRODUCTION REPORT DESCRIPTION Presence of contaminants or chemicals in canned foods, farm fresh foods frozen foods and processed foods can lead to food poisoning or other adverse effects on human health. The harmful materials or pathogens could enter the value chain at any point from source to final delivery to the customers. Therefore, it is important to conduct various tests to ascertain the food safety during the manufacturing phase and before the food products reach to the consumers. Pathogen testing has major share in the food safety testing market due to greater demand for food borne contamination testing.

In 2015, the value of the global food safety testing market over USD 4.2 million. The global food safety testing market is projected to reach USD X.XX million by 2023, growing with a CAGR of 7.2%from 2017 to 2023.The increase in food borne illnesses due to contaminants in the packaged food and beverages are expected to fuel the growth of global food safety testing market. Moreover, ever-increasing demand from the food industry for rapid testing technologies drives the market. The increase in consumption of convenience foods and beverages, consumer awareness about food safety and stringent regulations imposed by various governments are major factors in growth of the market.

This report estimates the market size of food safety testing in terms of value (USD Million) over the period of 2014 to 2023. The years 2015 are considered to be base years, and 2017 to 2023 is considered to be a forecast period. The market sizes for food safety testing by end use and by testing types are estimated in terms of value.

This market research study provides detailed qualitative and quantitative analyses of the global food safety testing market. Additionally, the report provides a comprehensive review of the major market drivers, restraints, opportunities in the global as well as regional markets of food safety testing. The market analysis covers major geographic regions, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecasts are also given for these regions.

Also, countries with major market shares are covered for each of the region.

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Global Food Safety Testing Market: Trends and Forecast -2023

Furthermore, this report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of Food Safety Testing Market.

Moreover, the study highlights current market trends and provides forecast from 2015 to 2023. We also have highlighted future trends in the global Food safety Testing market that will impact the demand during the forecast period. The IGRGrowth Matrix analysis provided in this report highlights key investing markets in the world. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.

SEGMENTATION AND RESEARCH SCOPE FOOD SAFETY TESTING MARKET SEGMENTATION

Testing Type

End- Use

• • • • • •

Dairy Fruits and vegetables Meat Poultry Processed foods Others

Region • • • • • • • • •

Adulteration testing Allergen testing GMO testing Pesticides Non-pathogen testing Nutritional labelling Pathogen testing Pesticide testing Toxin testing Others

• • • •

North America Europe Asia-Pacific RoW

Companies Profiled • ALS Limited • Bureau Veritas S.A • Charles River Laboratories • International Inc • Eurofins Scientific • Genetic ID NA Inc • Genon Laboratories Ltd • International Laboratory Services • Intertek Group Plc • Silliker Inc • TUV Rheinland Group

The report segments the global food safety testing market by end use,Testing Types and region. On the basis of end use the global food safety testing market is segmented as dairy, fruits and vegetables, meat, poultry, processed foods and others. Further, on the basis of testing types it is segmented as adulteration testing, allergen testing, GMO testing pesticides, Non-Pathogen testing, nutritional labelling, pathogen testing, pesticide testing, toxin testing and others. The global food safety 3

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Global Food Safety Testing Market: Trends and Forecast -2023

testing market is analyzed covering the regions such as North America, Europe, AsiaPacific and Rest of the World.

RESEARCH METHODOLOGY METHODOLOGY Infinium Global Research published reports are based on extensive primary and secondary research methods. The research begins with extensive exploration through secondary sources followed by primary research. With these research methods we were able to estimate the market size of the food safety testing market, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market. Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get in the coming days.

RESEARCH METHODOLOGY: AN OUTLINE

Primary Research

Secondary research

• Primary sources of the information and data include • Industry Experts/ consultants • Top level executives in the key market players • Subject matter experts • Academicians and research scholars

• Secondary sources of the information and data include • Company press releases and publications • Government/institutional publications • Trade and associations’ journals • Databases • Websites and publications by research agencies • Others

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Global Food Safety Testing Market: Trends and Forecast -2023

RESEARCH APPROACHES RESEARCH APPROACHES- BOTTOM UP • •

Accumulation of the country level market size (sales value and volume) Regional market size of food safety testing and its applications

• •

Segment revenue of the key players Country level market size by type and applications

•

Identifying key players in the food safety testing market

• •

Accumulation of the regional/country market size Global market size of testing types and applications

RESEARCH APPROACHES- TOP-DOWN • Global market size of food safety testing market Global market

• % breakdown by market segments by types tests and end users Market Segments

Top- Down Approach Determine the regional market size

Country Level market sizing

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• Regional market size of the food safety testing market • Regional market size of testing types and end use in terms of value

• Country level market size of the food safety testing market • Country level market size testing types and end use in terms of value in every region

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Global Food Safety Testing Market: Trends and Forecast -2023

The study on global food safety testing market provides deep insights into the trends and opportunities in the market for the forecast period 2017 to 2023. Moreover, the market estimates are provided in terms of revenue in USD Million. The research also covers the analysis of the various segments in the global food safety testing market.

The estimates in the global food safety testing market are based on both bottom-up and top-down approaches. In the bottom-up approach the revenues of the key players are determined and added to arrive at country or regional markets size. The country market sizes added to arrive at the regional market size. Further, the market size of the regions is added to arrive at the global market size of Food safety testing market.

In the top-down approach the global market size is estimated based on the secondary research and historic data. Using this approach the regional market size is obtained by splitting the global number by percentage share of each region such as North America, Europe, Asia Pacific, and RoW. IGR- RESEARCH METHOD AND DATA TRIANGULATION SECONDARY SOURCES.

• C-level executives in the leading manufacturing companies of food safety testing devices and equipment • Product managers • Sales managers • Industry consultants • Govt. agencies/ representatives dealing in food safety testing

Infinium’s Data bank/Know how

• Industry Publications • Agriculture and Agri-Food Canada • FDA • Government Agencies’ Publications • Industry news ‘ • Data sources • Trade Associations’ publications • Others

• Annual Reports • Presentations • Company Websites

• Press Releases • News Articles • Journals

Primary Research

Secondary Research

• Paid Databases

Company Publications .

SUPPLY SIDE

• Fresh food manufacturers, processed food manufacturers, beverage manufacturers, and others • Companies that endorse food safety testing • Intermediaries

General. Publications

DEMAND SIDE

PRIMARY SOURCES

Data Triangulation and Information Sources

The market size of Food safety Testing is determined based on the top down approach. The market size is validated using primary interview with the participants 6

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Global Food Safety Testing Market: Trends and Forecast -2023

working in some of the leading players in the food safety testing market. The primary interview participants typically include managers and CXO level executives of the leading players in this market. The primary interviews not only help identify the market size of the Food safety testing market but also identify the factors that promote the growth in the market and the factors that restrain the growth in this market. The views of primary respondents were reconciled to provide qualitative analysis of the Food safety testing market. The primary respondents also help identifying top 5-10 players and their possible market share in the respective country markets and in world market. The bottom-up approach is used to validate the global market size of food safety testing. With the help of primary interviews and secondary research the market size of food safety testing is determined for each country studied, which then is added to arrive at regional market size and thereby obtaining global market size. This in turn helps us to validate the market size of food safety testing in the world market.

EXECUTIVE SUMMARY GLOBAL FOOD SAFETY TESTING MARKET HIGHLIGHTS, (USD MILLION) The global Food safety Testing market was worth USD 8402.5million in 2015 and it is projected to reach USD xxxx.xx million, expanding at a CAGR of 7.2% between 2017 and 2023. The global Food safety testing market is driven by the factors such as rising demand for packaged food due to busy lifestyles, and strict food safety regulations by the government bodies and regulatory authorities in the leading countries.

Additionally, increasing incidents of contamination of food items and growing preferences for hygienic food have escalated the demand for food safety testing equipment and devices in the world market.

On the other hand, lack of awareness among the food manufacturers is one of the key restraining factors in this market, however, the impact of this restraining factor is expected to remain low over the forecast period.

North America dominates the world food safety testing market in terms of dollar share, while Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. The growth in the Asia-Pacific region is primarily driven by emerging economies such as India, China and Indonesia.

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Global Food Safety Testing Market: Trends and Forecast -2023

North America is the largest revenue generating region and it is mainly driven by stringent food safety regulations in the U.S. which is the prime market in the region.

Asia-Pacific is expected to growth at the highest CAGR of 7.2% over the forecast period.

Some of the key players in the global Food safety Testing market are ALS Limited , Bureau Veritas S.A, Charles River Laboratories International Inc., Eurofins Scientific, Genetic ID NA Inc, Genon Laboratories Ltd, International Laboratory Services , Intertek Group Plc,TUV Rheinland Groupand,Silliker Inc. GLOBAL FOOD SAFETY TESTING MARKET PROJECTION, 2015 – 2023 (USD ILLION)

2014

2015

2016

2017

2018

2019

2020

2021

Value

Food safety testing market is expected to experience significant growth globally. The global market for food safety Testing is expected to grow at a CAGR 7.2% over the period of 2017 to 2023, emerging markets are expected to boost the growth rate over the forecast period.

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Global Food Safety Testing Market: Trends and Forecast -2023

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GLOBAL FOOD SAFETY TESTING MARKET CAGR GROWTH BY REGIONS

xx.x xx.x xx.x

xx.x xx.x 2015

2015

2021

2021

xx.x

CAGR: X.X%

CAGR: X.X%

2015

2021

CAGR: X.X%

Emerging markets of Asia-Pacific, and Latin America regions are expected to drive the growth in the world market. The Asia-Pacific region is expected to grow at a CAGR of x.x% over the forecast period, followed by RoW regions growing at CAGRs x.x% and x.x% respectively over the period of 2017 – 2023.

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Global Food Safety Testing Market: Trends and Forecast -2023

MARKET OVERVIEW AND COMPETITIVENESS DRO ANALYSIS DRO stands for drivers, restraints and opportunities. The DRO analysis involves, identifying the factors that are likely to have impact on the global Food safety testing market. It covers analysis of short term and long term impact of drivers and restraints. Through this analysis both short term and long term opportunities are identified. These opportunities present the investment options and new markets for the market players in the Food safety testing market.

Drivers refer to the factors that are expected to drive or boost the market size or demand for Food safety Testing. The analysis involves identification of both demand side and supply side factors that drive the demand as well as environmental factor that favor the market conditions for growth of Food safety testing market both in short run and long run.

DRO ANALYSIS

D

• Increasing packaged food industry • Strict regulations about food safety

R

• Lack of awareness in emerging markets

O

• Emerging markets of Asia-Pacific and Latin America

Drivers

Restraints

Opportunities

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Global Food Safety Testing Market: Trends and Forecast -2023

DRIVERS DRIVERS OF FOOD SAFETY TESTING MARKET, IMPACT ANALYSIS Driver

Short term Impact

Mid term Impact

Long term impact

Driver 1

Driver 2

Driver 3

Low

Moderate

High

RESTRAINTS DRIVERS OF FOOD SAFETY TESTING MARKET, IMPACT ANALYSIS Restraints

Short term Impact

Mid term Impact

Long term impact

Lack of awareness in emerging markets

Low

Moderate

High

IGR- GROWTH MATRIX ANALYSIS Growth matrix developed by Infinium Global Research, also known as IGR-Growth Matrix helps understand the market situation of the business segments. It helps identify the most attractive segment for the investment purpose and helps the companies to make better decisions in strategy making. The IGR- Growth Matrix presents the zones that define the position of the product segment and application 11

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Global Food Safety Testing Market: Trends and Forecast -2023

segment based on the market size, growth anticipated and the growth factors & historic growth. Following are the zones that IGR- Growth Matrix considers Risky Zone: Low market size and low growth rate. Investment in this segment is risky Retention Zone: High market size and low growth rate, the companies operating in this segment should retain their investments in this segment.

Companies may focus on extensive marketing and advertisements Consolidation zone: High growth rate and high market size, the companies operating in the segments that have high market size and high growth should focus on consolidating their market position in these segment. Mergers and acquisitions, extensive marketing programs, and new product developments can be used as marketing strategies to consolidate the market in these segments.

Opportunity Zone: High growth low market size Safe Zone: Moderate growth and moderate market size.

IGR- GROWTH MATRIX ANALYSIS Growth Rate

High

Consolidation zone

Opportunity zone

Low Risky zone

Retention zone High

Low North America

Europe

Asia-Pacific

Market Size

Rest of the World

Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/food-beverage/global-food-safetytesting-market 12

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