- Opportunity and Forecast, 2016 - 2025
In the current scenario, food safety is a critical issue, not only for canned or packaged food, but also for farm products to ensure the food is risk-free for consumption. The addition of chemicals at any stage in the food value chain may cause food poisoning; this can be avoided by undergoing food safety testing, which is significant for safety of consumers from consuming contaminated food. Various techniques have been developed for testing safety as well as quality of food, owing to advancement in techniques. A high reliability in target detection and rapid standardized workflows are implemented to ensure food is tested for safety and ready for release in the market. The detection of a wide range of significant pathogens, authentication of important ingredients, and identification of DNA from genetically modified organisms are essential factors considered during food safety testing.
Growth in consumer affordability and technological advancements drive the global food safety testing industry. Improper handling & storage of food and increase in import & export activities are factors that lead to contamination, which consequently may limit the market growth. However, Good Manufacturing Practices, Hazard Analysis Critical Control Point, Good Agricultural Practices, and Good Hygiene Practices are few authorities that provide new pathways for growth in the industry.
The global food safety market is segmented on the basis of contaminant, technology, food type, and geography. Based on contaminant, the market is divided into pesticides, pathogens, genetically modified organisms (GMO), and toxins. On the basis of technology, it is bifurcated into traditional and rapid technologies. Food types covered in the research are meat & poultry, dairy, processed, and fruit & vegetable. Geographically, it is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa.
Key players operating in the industry are SGS, Beureau Veritas, Intertek, Eurofins Laboratories, Det Norske Veritas, Idexx Laboratories, ALS Laboratory, and Bio-Rad Laboratories. These players have implemented developmental strategies, such as partnerships, collaborations, joint ventures, new product launches, expansion, merger & acquisition, and others, to strengthen their position in the industry.
Progressive Markets published a report, Metal Strapping Industry - Size, Trend, Share, Opportunity Analysis & Forecast, 2016-2022, which says that the market was valued at $1,892 million in 2016 and is expected to reach $2,746 million in 2022, growing at a CAGR of 4.3% from 2017 to 2022. Read More >>