(MENAFN – GetNews) The Global Food Safety Testing System Market size was valued at USD 19.94 billion in 2019 and is expected to reach USD 33.78 billion by 2027 at a CAGR of 6.5%.
The increased chemical contamination outbreaks and growing awareness of food safety in food processing industries are driving the demand for the market.
The Global Food Safety Testing System Market is projected to reach USD 33.78 billion in 2027. A higher outbreak of foodborne diseases and the implementation of strict regulatory rules on the optimal quality of foodstuffs are expected to boost market demand for product safety over the planned period.
Notable technological developments such as the use of electrical biosensors for microbiological safety testing are evident on the food safety testing market. The analysis time is expected to be reduced and the results accuracy increased. Therefore, higher manufacturing companies’ investment to ensure higher quality of foodstuffs would fuel demand growth.
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The COVID-19 impact:
In no way will the COVID-19 pandemic threaten the growth of the industry. Core market leaders are pessimistic about the industry’s future and are looking to find ways to address the issue. To order to develop facilities and other operations several hospitals had to impact the industry greatly. There is a lack of resources due to normal lockout in different parts of the world. The significant decrease in national demand attributed to the trade, exports and imports of COVID-19 from outside the EU. The world’s largest businesses tend to smooth their budgets and build cash reserves. Actual production levels are eventually decreased for workers, and companies are searching for new ways of customer demand fulfillment at even lower costs.
The global Food Safety Testing System market study covers the current COVID-19 scenario that has turned the global business sphere upside down. The coronavirus has resulted in a major economic downturn worldwide, while also adversely impacting the growth of this industrial sector. The pandemic has brought about drastic changes in market conditions. Therefore, the latest report elaborates on the rapidly changing market scenario and conducts preliminary, as well as the future assessment of COVID-19 impact on the market. Moreover, the document contains a broad analysis of prime aspects of the market, with expert opinions on the current market standing and historical data.
Key highlights of the Global Food Safety Testing System Market report:
- The latest report performs an in-depth study of the potential opportunities and risks associated with the global Food Safety Testing System market, alongside studying the recent innovations and major events.
- It offers a conclusive study of the future growth trajectory of the Food Safety Testing System market and throws light on various market drivers, challenges, and constraints.
- A detailed synopsis of the market includes the rapidly changing market dynamics and an accurate prediction of the current, historical, and forecast market size in terms of volume and value
- The intensely competitive atmosphere of the global Food Safety Testing System market detailed in the report stresses on the product offerings and key strategies adopted by the established market players to strengthen their foothold in the industry.
- Key players in the market include SGS S.A., Romer Labs Division Holding GmbH, Intertek Group plc, Bureau Veritas SA, Covance Inc., Eurofins Scientific SE, Merieux NutriSciences, NSF International, Microbac Laboratories, Inc., and Nova Biologicals, Inc., among others.
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Unfolding the prime factors prompting global market growth:
- The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Food Safety Testing System market into a broad product spectrum.
- The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
- A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
The latest report presents the vital indicators of market growth, including an effective value chain analysis, Porter’s Five Forces Analysis, and CAGR growth over the forecast period. The significant data and information gathered by our analysts are likely to help readers have a clear comprehension of the qualitative and quantitative growth parameters of the global Food Safety Testing System market.
The global Food Safety Testing System market report estimates revenue growth on global, regional, and country levels, depicting the industry trends from 2020 to 2027 in each segment and sub-segment of the market. However, the global market is fragmented on the basis of region, product type, and application.
- Test Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Allergen Testing
- Chemical & Nutritional
- Genetically Modified Organism (GMO)
- Residues & Contamination
- Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Meat, Poultry, & Seafood Products
- Dairy & Dairy Products
- Processed Food
- Cereals & Grains
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Global Food Safety Testing System Market Report Table of Contents :
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Food Safety Testing System Market Segmentation & Impact Analysis
4.1. Food Safety Testing System Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Growth in demand for convenience and packaged food products
184.108.40.206. Increase in outbreaks of chemical contamination in food processing industries
4.2.3. Market restraints analysis
220.127.116.11. Industry Challenges
18.104.22.168. Lack of skilled labor during COVID-19
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Food Safety Testing System Market By Test Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Test Dynamics & Market Share, 2019 & 2027
5.1.1. Allergen Testing
5.1.2. Chemical & Nutritional
5.1.3. Genetically Modified Organism (GMO)
5.1.5. Residues & Contamination
Chapter 6. Food Safety Testing System Market By Application Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Application Dynamics & Market Share, 2019 & 2027
6.1.1. Meat, Poultry, & Seafood Products
6.1.2. Dairy & Dairy Products
6.1.3. Processed Food
6.1.5. Cereals & Grains
To be continue..!
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