According to Future Market Insights research, during the projected period, the Meat Speciation Testing market is expected to grow at a CAGR of 4.30%. The market value is projected to increase from US$ 2,295.7 million in 2023 to US$ 3,497.5 million by 2033. The Meat Speciation Testing market was valued at US$ 2226.7 million at the end of 2021 and is anticipated to exhibit a CAGR growth of 3.10% from 2016 to 2021.
| Attributes | Details |
|---|---|
| Market Size Value in 2023 | US$ 2,295.7 million |
| Market Forecast Value in 2033 | US$ 3,497.5 million |
| Global Growth Rate (2023 to 2033) | 4.30%CAGR |
| Forecast Period | 2023 to 2033 |
| CAGR of the United Kingdom in Europe | 3.90% |
Meat speciation testing, which is done for a variety of reasons, including safety, economics, and ethnicity, can be defined as the identification of animal species.
Meat speciation testing can be done using a wide range of products, such as Enzyme-linked immunosorbent assay (enzyme-linked immunosorbent assay), qualitative PCR analysis tools, and others. These methods are utilized to determine the animal species in cooked and raw products across a variety of food products and feed matrices.
As the world's population of meat eaters grows, scandals over mislabeling meat products are also expected to rise, which will help the meat speciation testing industry in the future. Testing for meat speciation is done on both cooked and uncooked meat products.
A new report published by Future market insights, titled, Meat Speciation Testing Market - Global Opportunity Analysis and Industry Forecast, 2023 to 2033, projects the global Meat Speciation Testing market to reach US$3,497.5 million by 2033. The market was valued at US$ 1,911.5 million in 2016 and is expected to grow at a CAGR of 4.30% from 2023 to 2033.
The meat speciation testing industry is fragmented into seven distinct geographic market segments based on geography: North America, Latin America, Europe, Asia-Pacific region, Japan, the Middle East, and Africa.
In terms of revenue, the global market for meat speciation testing is currently led by regional segments in Europe. The market for meat speciation testing in Europe is being driven by rising consumer awareness, more stringent food laws, and an increase in the meat trade.
Since the region's GDP is stable, consumers are becoming more health conscious, and numerous laws are being incorporated by countries within the region, it is anticipated that the Asia Pacific region will continue to dominate the meat speciation market over the course of the forecast period. As a means of ensuring that people in foreign and domestic countries receive food that is safe, food-safety regulations are becoming more stringent every year.
The market for meat speciation testing is rapidly growing, and the outlook in North America is particularly promising. Meat speciation testing is the process of verifying that products labeled as a certain species of meat actually contain that species only. In order to ensure this, laboratories across North America are investing heavily in the technology needed for accurate results.
Industry experts predict that this growth will continue over the coming years as consumers become more aware of food fraud and want to be sure their food is what it claims to be on packaging labels. This increased demand for quality assurance has resulted in governments implementing stringent regulations which further require businesses to invest in advanced meat speciation technologies. For example, legislation such as FSMA (Food Safety Modernization Act) passed by USDA mandates verification of product safety and compliance with labeling requirements via third-party accredited laboratories.
The European market for meat speciation testing is a rapidly evolving industry with a bright outlook in the world. With the increasing demand for better quality, safer, and healthier food products, regulatory bodies are continually enforcing stricter regulations on food safety and authenticity.
Meat speciation testing provides an effective way to verify the purity of animal-based ingredients used in processed foods. This process has become increasingly important in Europe where consumers are more aware of what they eat and want assurance that their food is safe and authentic.
As a result, the European market for meat speciation testing is expected to experience substantial growth over the next few years due to increased demand from both consumers and regulatory bodies. Companies operating within this sphere have invested heavily in new technologies, such as DNA barcoding which offers higher accuracy and reliability when identifying animal species present in processed foods.
Over the course of the forecast period, the market for meat speciation testing is anticipated to expand steadily. The rise in food fraud cases, rising consumer infection rates, adherence to labeling laws, strict rules and regulations, and consumer demand for certificated foodstuffs are the main factors driving the growth of the meat speciation testing market.
The main obstacle to meat speciation testing is a lack of resources, infrastructure, and food control systems in developing nations. Meat speciation testing in the market is an important tool used to determine the type and origin of meat products. However, it has several major restraints that limit its effectiveness in certain scenarios.
One of these major restraints is the cost associated with running tests for meat speciation. The cost of conducting these tests can be very high, especially when using sophisticated technology such as DNA analysis or gas chromatography-mass spectrometry. Furthermore, due to the complexity involved in differentiating between various types of meats, there can be a lack of standardization across different laboratories which can further complicate matters and add to costs. Another major restraint that limits the effective use of meat speciation testing is the availability of appropriate data sets and reference material.
To safeguard consumers from fraud and to respect their cultural and religious preferences, it is essential to identify the species in pig (swine) meat products. The market for testing meat for species is divided into PCR, ELISA (enzyme-linked immunosorbent assay), and other molecular diagnostic tests (LC-MS/MS), according to technology.
In terms of technology, the PCR segment has the largest market share as of 2020 due to Covid and is anticipated to grow at the highest CAGR during the forecast period because it offers quick results and aids stakeholders in making decisions regarding product recalls. ELISA has experienced significant growth (enzyme-linked immunosorbent assay).
The Meat Speciation Testing in the market is expected to grow at a CAGR of 4.30% during the forecast period of 2023 to 2033. Supermarket and industrial distributors are propelling the growth of meat speciation testing in markets across the country. With increasing consumer demand for ethically sourced and accurately labeled foods, supermarket, and industrial distributors have begun to take notice. Companies like Sysco, Performance Food Group, US Foods, Dot Foods, and others are now requiring their suppliers to provide evidence of accurate species identification in order to be competitive in their respective markets.
The growing demand for meat speciation testing is a direct result of evolving consumer needs. Consumers are wanting more information about the source of their meats, as well as assurance that they aren’t being misled by mislabeling or adulteration. Supermarkets, food service companies, and other market players can no longer afford to ignore this rising trend toward greater transparency in labeling practices.
The competitive landscape of the meat speciation testing market is becoming increasingly crowded, as more and more companies enter the market. A variety of factors have contributed to the increasing demand for such services, including advances in technology and the growing consumer interest in safe and quality food products. As a result, there has been an influx of companies offering a wide range of meat speciation testing services.
Currently, some well-known players in this industry include Eurofins Scientific Inc., SGS Group SA, Intertek Group plc., Romer Labs Diagnostic GmbH, and ALS Limited. These well-established companies are leveraging their extensive expertise in providing top-notch quality services to capture significant shares of the global market. Additionally, these players are actively engaging in strategic alliances with local suppliers to expand their reach across different regions.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2023 |
| Market Analysis | US$ million for Value and Units for Volume |
| Key Regions Covered |
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| Key Countries Covered |
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| Key Segments Covered |
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| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Meat Speciation Testing market will reach a valuation of US$ 2,295.7 million by the end of 2023.
The global Meat Speciation Testing market is forecasted to surpass US$ 3,497.5 million by the end of 2033.
The USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Meat Speciation Testing Market.
The USA Meat Speciation Testing Market is contributing 34.10% of the total value share in the global market.
The Germany Meat Speciation Testing Market is contributing 24.10% of total value share in global market.
In Japan Meat Speciation Testing Market is contributing 6.60% of total market share which values in year 2023.
In India Meat Speciation Testing Market is contributing 3.70% of CAGR for latest period.
In China Meat Speciation Testing Market is contributing 5.90% of CAGR for latest period.
In Australia Meat Speciation Testing Market is contributing 2.80% of the total value share in the global market.
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Meat Speciation Testing Market
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