Global Food Safety Testing Market 2015 is poised to reach $16.4 billion by 2022
The Global Food Safety Testing Market accounted for $11.2 billion in 2014 and is poised to reach $16.4 billion by 2022 growing at a CAGR of 4.8%. Food safety testing is necessary for safe and quality products and also to avoid any kind of health issues like food poisoning. Some of the key drivers of the market growth include increase in food borne illnesses, technological advancements and implementation of strict food safety regulations by the authorities. However factors such as lack of food control infrastructure, testing laboratories and resources in developing countries are restraining the market growth.
Food Safety Testing Market is segmented by contaminants, food type, technology and geography. On the basis of contaminants, the market is segmented into Pathogens, Salmonella, Genetically Modified Organisms (GMOs), Toxins and others. By food type, it is segmented into Convenience Food, Dairy Food, Meat and Poultry, Fruits and Vegetables and others. By technology, it is categorized into Chromatography, Biochips\Biosensors, Food Irradiation and others. The market is dominated by North America, followed by Europe. On geographic basis, the market is segmented into North America, Europe, Asia Pacific and Rest of the World (ROW).
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Some of the key players in the market include Intertek Group Plc, Eurofins Scientific, Abbott Laboratories, Applied Biosystems, Silliker Inc., DuPont Nutrition and Health, Bureau Veritas S.A., Genon Laboratories Ltd, BioControl Systems Inc and Genevac Ltd.