Food Testing Kits Market to To Reach USD 3.03 Billion By 2026
Market Summary: Increasing product launches by market players, coupled with growing awareness towards toxins such as mycotoxin and GMO’s are the key factors contributing to the high CAGR of Food Testing Kits. Market Size – USD 1.78 Billion in 2018, Market Growth - CAGR of 6.8%, Market Trends – technological upgradations for complex food samples, stringent regulations for product approval. According to the current analysis of Reports and Data, the global Food Testing Kits market was valued at USD 1.78 Billion in 2018 and is expected to reach USD 3.03 Billion by the year 2026, at a CAGR of 6.8%. The market is expected to face a favourable growth scenario as it offers many benefits over conventional technologies. The conventional methods of detecting foodborne pathogen are time-consuming as well as laborious. Further key findings from the report suggest : • The packaged food segment will also be a driving factor for the industry and is expected to register a CAGR of 6.5% during the period of forecast. • Enzyme-analysis is forecasted to grow at a CAGR of 6.6% in the forecast period. • Companies are increasingly merging or acquiring other companies strengthen their market position. In May 2019, Cotecna announced acquiring Neotron, a key global provider of testing services for food products, supplements, pharmaceutical products and cosmetics. www.reportsanddata.com
Key participants : Alfa Laval, GEA Group, Krones Group, Paul Mueller , Praj Industries, Meura SA , Della Toffola, Criveller Group, Kaspar Schulz, Ningbo Lehui International Engineering Equipment Co., Ltd. Hypro Group, Shanghai Hengcheng Beverage Equipment Co., Ltd. (China), MEURA, and Ziemann Holvrieka GmbH. Segmentation: • Equipment Type (Revenue, USD Million; 2016–2026), Macro Brewery Equipment, Fermentation Equipment, Cooling Equipment, Milling Equipment, Brewhouse Equipment, Lauter Tun, Mash Kettles, Wort Kettles, Whirlpoolers, Steam Generators, Filtration & Filling Equipment, Others, Cleaning System, Spent Grain Silos, Generators, Bright Beer Tanks, Compressors Pipes, Craft Brewery Equipment, Fermentation Equipment, Cooling Equipment, Mashing Equipment, Storage Equipment, Compressors Equipment, Other • Mode of Operation (Revenue, USD Million; 2016–2026), Automatic, Semi-automatic, Manual • End Use (Revenue, USD Million; 2016–2026), Macro Brewery, Craft Brewery, Microbrewery, Brewpub, Others www.reportsanddata.com
Regional Outlook for Food Testing Kits Market analyzes the following geographies ◦ North America (United States, Canada, and Mexico) ◦ Europe (Germany, France, UK, Russia, and Italy) ◦ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) ◦ South America (Brazil, Argentina, Colombia, etc.) ◦ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa
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The report emphasizes the following key questions: ◦ Q.1. What are the most lucrative and promising growth prospects for the market? ◦ Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? ◦ Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes? ◦ Q.4. Which factors are impacting the future of the market and what are the driving factors? ◦ Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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