Food Safety Testing Market Is Anticipated To Grow At A Cagr Of 6.9% During 2020-2026

By Author: Lucintel LLC
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The global food safety testing market is projected to reach $7.0 billion by 2026, at a CAGR of 6.9% during 2020-2026. The growth of food safety testing market is driven by growing incidence of foodborne diseases, implementation of food safety and inspection services all over the world and strong growth in food and beverage industry.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the food safety testing market by contaminant (pathogens, pesticides, genetically modified organisms (GMO), toxins, allergens, and others), technology (traditional and rapid), end use (dairy products, food grains, meat, poultry, & seafood, fruits & vegetables, processed foods, beverages, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the food safety testing market?
Q.4 What are some changing demands of customers in the food safety testing market?
Q.5 What are the new developments ...
... in the food safety testing market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this food safety testing area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this food safety testing market?
Emerging trends, which have a direct impact on the dynamics of the industry, include usage of DNA-based PCR-testing method for GMOs and introduction of mass spectral detection.

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Market Segmentation:
Based on contaminant, the food safety testing market is segmented into pathogens, pesticides, genetically modified organisms (GMO), toxins, allergens, and others. The pathogens segment accounted for the largest share of the market in 2020 due to growing food safety concerns and regulation due to growing food poisoning cases and genetically modified organisms (GMO) is expected to register the highest CAGR during the forecast period, due to the technological advancement in agriculture sector to produce genetically modified crops and increasing consumer awareness regarding health.
Europe is expected to be the largest region due to stringent regulation in the region for food safety, and the presence of giant food and beverage manufacturers in this region. APAC is expected to witness the highest growth over the forecast period due to growing international trade which has mandated food safety testing to comply the regulatory standards and growing population.
Key Players in the food safety testing market are Eurofins Scientific, SGS S.A., Intertek Group, ALS Ltd., Bureau Veritas, Asurequality Limited, and Mérieux NutriSciences.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
To read more about this market please click on https://www.lucintel.com/food-safety-testing-market.aspx
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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