This Global Food Safety Testing Services market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Global Food Safety Testing Services market.
Governments around the world have massively increased their focus on ensuring food safety. The threat of foodborne illnesses has led to stringent regulations from food testing authorities worldwide. The global food trade has increased manifold in the last decade or so, and manufacturers have become increasingly reliant on food testing mechanisms to ensure that they are following all the regulations and guidelines.
The growth of the global food industry is dependent on fool-proof food testing mechanisms. Lack of proper food testing can increase the risk of food poisoning and other foodborne diseases. In the recent past, several incidents have happened wherein improper safety mechanisms have led to the outbreak of foodborne illnesses. The authorities in the developed world have enforced stringent quality checks on their food imports and many food products have been outrightly banned for failing to meet the safety guidelines. Increase in the focus on food safety has also led to product recalls from some of the leading names in the food industry.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The global food safety testing services market is anticipated to expand at a steady rate through 2020. Growth in developed regions, such as North America and Western Europe, and stringent regulations on the quality of food exports in developing countries are projected to be the key drivers for the growth of this market. However, lack of proper testing mechanisms in developing economies can pose a challenge to the growth of the global food safety testing services market.
Global Food Safety Testing Services Market: Segmentation
The global food safety testing services market is segmented into GMOs, pathogens, toxins, pesticides, and others. Food type segmentation includes fruit and vegetable, meat and poultry, convenience food, and others. Among these segments, the food safety testing services market for pathogens is anticipated to witness the fastest growth on account of rising number of foodborne outbreaks due to Salmonella. Other segments of the global food safety testing services market are also expected to witness steady growth during the forecast period.
Key Regions for Food Safety Testing Market
North America is currently the dominant region of the global food safety testing services market, and it is expected to remain the key region through 2020. Stringent regulations on enforcing food safety guidelines in the U.S. And Canada have fueled the demand for the food safety testing services market in the region. The enaction of Food Safety Modernization Act (FSMA) in the U.S. has augured well for the growth of the global food safety testing services market.
Other key regions for the global food safety testing services market include Asia Pacific and Western Europe. It is anticipated that development of new food safety regulations will fuel the food safety testing services market in Asia Pacific in the next five years. It is anticipated that Asia Pacific's food safety testing services market will witness a very high growth rate in the next five years.
Key Players for Food Safety Testing Services Market
Some of the leading names in the global food safety testing services market include SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Lloyd’s Register Quality Assurance Ltd. (U.K.), and Intertek Group Plc. (U.K.)
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Regional analysis includes
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- Eastern Europe
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- Potential and niche segments/regions exhibiting promising growth
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Which framework has been used to develop the Global Food Safety Testing Services Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)