As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.
The Global Food Safety Testing Market is anticipated to grow at a substantial rate during the forecast period owing to increasing awareness among customers regarding food safety. The growing demand for packaged and processed food is also supporting the growth of food safety testing market. Further, the rising prevalence of various diseases which might occur due to food contamination is also acting as growth driver for this market. Moreover, increasing requirement for quality tests of processed and unprocessed meats is expected to fuel the global food safety testing market by 2025.
Stringent regulations related to food safety in various regions is further contributing to the increasing demand of food safety testing. Increasing import and export of food items has led to increased contaminant levels due to improper monitoring. This is further creating a need for food safety testing. Additionally, growth in food & beverage industry is poised to support the growth of food safety testing market in the coming years.
Global food safety testing market can be segmented based on technology, food tested, target tested and region. Based on technology, the market is segmented into traditional and rapid technologies. Among them, the traditional technology dominated the market, especially in developing economies owing to its low cost and high number of service providers using traditional methods for food testing. However, the rapid technology is expected to undergo the fastest growth by 2025 as they give accurate results in limited timespan.
Browse Full Report : https://www.techsciresearch.com/report/global-food-safety-testing-market/2281.html
Regionally, North America dominated the market in 2019 and is expected to continue its dominance until 2025 due to stringent regulations relating to food safety and increasing outbreaks of foodborne illnesses. Also, technological advancements and high competitiveness among food manufacturers is leading to high demand for food safety testing services in the region.
Major companies operating in the global food safety testing market include SGS S.A., Romer Labs Division Holding GmbH, Intertek Group plc, Bureau Veritas SA, NSF International, Eurofins Scientific SE, Microbac Laboratories, Inc., Covance Inc., Merieux NutriSciences and Nova Biologicals, Inc., among others. The key trend being observed in the market is merger & acquisitions to expand the global market share. The recent outbreak of COVID-19 has also led to the surge in demand for food safety testing services.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Objective of the Study:
- To analyse and forecast the market size of global food safety testing market.
- To forecast global food safety testing market based on technology, food tested, target tested, company and regional distribution.
- To identify drivers and challenges for global food safety testing market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global food safety testing market.
- To identify and analyse the profile of leading players operating in the global food safety testing market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of food safety testing companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated global food safety testing market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Food safety testing service providers/partners
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to food safety testing market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as food safety testing service providing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Mr. Ken Mathews
708 Third Avenue,
New York – 10017
Email : firstname.lastname@example.org