The post Food Testing Market Competitive Research And Precise Outlook 2023 To 2030 appeared first on Newstrail.com authored by Contrived Datum Insights
The Food Testing Market is estimated to be worth USD 26.9 Billion by 2027 and is projected to register a CAGR of 7.9% over the forecast period 2022-2027.
Market Overview
The Global Food Testing Market Research Report begins with an industry overview that discusses definition, applications, and technology. After this, the report delves into an investigation of the international companies that are currently operating in the market. The research includes in-depth profiles of the leading companies in the sector, as well as an examination of how those companies compare to one another and to the market as a whole. The research utilises a SWOT analysis to evaluate the key players in the market with regard to their respective strengths and weaknesses. In order to accurately make a forecast and provide investors with expert insights to keep them up to date with the trends in the market, the researcher provides an exhaustive analysis of the size, share, trends, overall earnings, gross revenue, and profit margin of the Food Testing market.Food testing is a way to make sure food is safe and reduce the risk of contamination that can cause food poisoning. During a food inspection, the labeled ingredients of the food are checked to make sure they are correct. Food testing is an important part of making sure that food is good in terms of its ingredients, taste, and appearance. Food testing helps companies regulate food for allergenic ingredients and pathogenic bacteria so that consumers get safe and healthy products. The rapid growth of health-conscious people in emerging economies is expected to drive the demand for food inspection services, which will lead to the growth of the food inspection market. Food safety tags are put on food by users to make sure that the food is safe and in good condition. This, in turn, has made it more important to test food on a global scale in the market.
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Segment Analysis
Based on the type of testing, the Food Testing Market can be divided into Microbiology Analysis, Pesticides & Fertilizers Analysis, Allergen Analysis, Lipids, Fats & Oil Analysis, Genetically Modified Organisms (GMO), Toxins, and Others. In 2021, Microbiology Analysis had the largest share of the market. Microbiology is an important part of food safety, production, processing, preservation, and storage. It develops new and quick ways to find pathogenic and spoilage microorganisms in food, which increases the demand for microbiology in the food industry. Based on the end users, the Food Testing Market can be further divided into Dairy Products, Grains, Processed Food, Meat & Poultry, Fruits & Veggies, Sea Food, Beverages, and Others.
Based on types, the Food Testing market is segmented into:
- Chromatography Systems, Mass Spectrometry Systems, Immunoassay Systems
Based on application, the Food Testing market is segmented into:
- Food Processing Plants, Food Safety Institutions, Other
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Reasons to Purchase this Report
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- Qualitative and quantitative analysis of the market based on segmentation involving both economic and non-economic factors;
- Provision of market value (USD Billion) data for each segment and sub-segment;
- Indicates the region and segment that is expected to witness the fastest growth and dominate the market;
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the market’s dominance by region;
- Analysis by product/service type
- A competitive landscape that includes the market ranking of the top competitors, as well as new service/product launches, collaborations, business expansions, and acquisitions of companies featured during the previous five years
- Extensive company profiles with business overview, company insights, product benchmarking, and SWOT analysis for the leading market players
- The current and future market outlook of the industry in light of recent developments (which include growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions)
- Includes an in-depth analysis of the market from multiple perspectives using Porter’s five forces analysis Provides market insight across the Value Chain
- Market dynamics situation, as well as development potential for the market in the coming years
- 6-month post-sale analyst assistance
Regional Analysis
Regional Outlook (Revenue, USD Million; 2023 – 2030)
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- North America(U.S.,Canada)
- Europe(U.K.,Germany,France,Italy,Spain,Denmark,Sweden,Norway)
- Asia Pacific(Japan,China,India,Australia,South Korea,Thailand)
- Latin America(Brazil,Mexico,Argentina)
- Middle East & Africa(South Africa,Saudi Arabia,UAE,Kuwait)
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Key Market Participants in the Food Testing market:
This report also provides a comprehensive overview of the purchasing criteria and challenges faced by the Food Testing market business sector. It also provides a comprehensive analysis of market restraints, business sector structure, and business trends in the Food Testing market. In order to present primary information about the market, meetings and interviews with the market’s leading participants were utilised. In addition, this report provides a comprehensive analysis of the size and application scope of the global market.SGS SA, Intertek Group plc, Eurofins Scientific, Bureau Veritas S.A
Recent Development
Bureau Veritas bought Orion Assessment Services International Inc. in January 2021. As a result of the acquisition, Bureau Veritas was able to improve its market-leading food testing capabilities in Canada and grow its food certification business in more places.
In January 2021, SGS bought an accredited food testing lab called Analytical & Development Services. This lab was active in the UK market and did testing for pesticides, nutrition, microbiology, food molecular biology, and allergens. As a result of the acquisition, SGS was able to strengthen its market position in the UK and add new advanced services to its UK food testing and advisory business, such as pesticide expertise.
In June 2020, Eurofins and QFresh Lab, an analytical testing laboratory that helps the fresh Global Food Testing Market, made a strategic partnership. Pesticides, heavy metals, nutrition, and microbiological testing, as well as food safety training, were added to Eurofins’s long-standing list of services. This was made possible by Qfresh, a nationwide network of laboratories set up to help the fresh food industries.
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