Food Safety Testing Market expected to drive the market demand, 2018-2025

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Rising economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds globally, is the prime factor that is expected to boost the growth of the global food safety testing market during the forecast period. In addition, growing demand for processed foods among millennials further fosters the growth of the market.

The global food safety testing market size was valued at $13,144 million in 2017, and is estimated to reach $23,204 million by 2025, registering a CAGR of 7.3% from 2018 to 2025.

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Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, sale of food that is unfit and potentially harmful and deliberate misdescription of food.

Increase in economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds globally, is the prime factor that is expected to boost the growth of the global food safety testing market during the forecast period.

Various regulations on food safety particularly in the developed economies, growth in instances of food fraud, and rise in economically motivated adulterations (EMAs), owing to high competition among food producers, drive the food safety testing market.

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The major companies profiled in this report are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL, Bio-Rad Laboratories, and Laboratory Corporation of America Holdings.

key Findings of the Food Safety Testing Market :

  • In 2017, the pathogen testing segment dominated the global food testing market, and it is likely to maintain its dominance over the forecast period.
  • The processed food segment dominated the global food testing market in 2017, and it is anticipated to grow at a lucrative CAGR of 7.4% during the forecast period, that is, 2018 to 2025.
  • The meat & meat product segment by the food tested category is anticipated to witness the fastest CAGR of 7.9% in terms of value during the forecast period.
  • North America led the global food safety testing market in 2017, and is anticipated to witness a CAGR of 6.3% during the forecast period, in terms of value.
  • By technology, the PCR-based assay segment dominated the food testing market in 2017, and is anticipated to witness the highest CAGR of 7.7% during the forecast period, in terms of value.

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Jessica Hamelburg
Jessica Hamelburg is a content marketing coordinator and social media manager for a global industrial asset management company. Jessica holds a Bachelor's Degree in Communications and Public Relations from Suffolk University and offers many years of experience in various forms of writing. Some of her favorite hobbies include exploring new music, creative writing and spending time with her dogs.

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