Leeds, West Yorkshire -- (SBWIRE) -- 10/09/2020 -- After Pandemic, the business climate has undergone dynamic changes. A wide range of elements come into play that influences the market and the business participants that function in it. This report has been presented after making an in-depth assessment of the market environment.

The market analysis sheds light on the business players that mold the performance of the industry. In addition to this, it emphasizes the diverse range of market elements that can influence the performance of the market furring the forecasted period 2019 – 2028. Some of the critical elements that have been evaluated include the market opportunities, threats, strengths, and weakness of market participants and growth factors.

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The food safety testing market size was valued at USD 12.0 Billion in 2016 and is expected to reach USD 23.5 Billion By 2025, growing with a CAGR of over 7% during the forecast period. Increasing incidences of contamination in food safety has propelled the demand for food safety by food manufacturers. Moreover, high awareness pertaining to foodborne diseases caused by food contamination has rendered food safety testing a necessity for the food manufacturers thereby augmenting the sales of this service.

Advent of advanced techniques and more sophisticated equipment employed for food safety testing is also expected to gain traction in sales of tested food products for the past few years and continues to show promising prospects for future growth. The government of various countries has introduced stringent food safety laws mandating the quality of food product, which is expected to impact the industry positively. Additionally, global expansion of food and beverages industry, compounded growing food service industry is another factor fueling the market growth. However, lack of proper administration of food infrastructure could impact the market negatively. Furthermore, limited resources essential for arranging a controlled food infrastructure may also hamper the market growth.

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The pathogen segment is dominating the contaminant segment

On the basis of contaminant, the market is bifurcated into pathogens, genetically modified organisms, chemicals and toxins. The pathogens segment is further classified into bacteria, viruses and funguses. In the contaminant section, pathogen segment is estimated to account for the largest market share in the food safety testing market owing to the myriad of harmful pathogens such as Salmonella, E. coli, Listeria, and Campylobacter which are responsible for food contamination and toxicity. Furthermore, global increase in the incidence of foodborne illness and frequent food related disease outbreaks is contributing to the pathogen segment. GMO's segment is anticipated to grow over the forecast period owing to the high awareness of consumers regarding genetically modified vegetables and fruits and stringent regulatory restrictions on GMO-derived foods.

The food segment is dominating the end use segment over the forecast period

Based on end use, the market is split into foods, agriculture and environment. The food segment is sub categorized into snack foods, meat, poultry and sea foods, dairy products, bakery and confectionery, fresh and frozen fruits and vegetables, frozen foods; the agriculture segment is also divided into crops and seed and the environment segment is grouped into water testing pesticide and residue analysis soil testing. The food segment is expected to dominate this segment owing to high demand and availability of vast variety of products. Q-PCR-based Methods and d-PCR- based methods are the two sub-segments under the technology segment.

North America is estimated to be the most lucrative market for food safety testing

Geographically, the market is branched into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The North American region is estimated to dominate the food safety testing market which can be attributed to the increase in outbreaks of foodborne illnesses, stringent government regulations pertaining to food safety, presence of a number of major players in the industry and incessant growth of population in the region. However, the Asia Pacific region is estimated to be a fast growing market during the forecast period, owing to the increasing food trade and major investments in R&D by key players.

The key players in the market include AsureQuality Ltd, Microbac Laboratories, Inc., Mérieux NutriSciences, Intertek Group plc, Laboratory Corporation of America Holdings.Genetic ID NA, Inc., ALS Ltd., Bureau Veritas SA, Eurofins Scientific, TÜV SÜD, SGS SA and TÜV Nord Group.

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