Insights on the Food Safety Testing Global Market to 2027 - Featuring ALS Limited, Eurofins Scientific and 3M Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Food Safety Testing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Food Safety Testing estimated at US$17.4 Billion in the year 2020, is projected to reach a revised size of US$25.8 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027.

Microbiological Testing, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$7.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residues & Contamination Testing segment is readjusted to a revised 6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.7 Billion, While China is Forecast to Grow at 7.3% CAGR

The Food Safety Testing market in the U.S. is estimated at US$3.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.

Chemical & Nutritional Testing Segment to Record 5% CAGR

In the global Chemical & Nutritional Testing segment, USA, Canada, Japan, China and Europe will drive the 4.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.6 Billion in the year 2020 will reach a projected size of US$3.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2 Billion by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period.

Select Competitors (Total 68 Featured) -

• ALS Limited
• Bureau Veritas S.A.
• DTS Food Assurance
• Eurofins Scientific
• FoodChain ID Testing
• ifp Institut fur Produktqualitat GmbH
• Intertek Group PLC
• Merieux NutriSciences
• Microbac Laboratories, Inc.
• Neogen Corporation
• Romer Labs, Inc.
• SGS SA
• 3M Company
• Biolog, Inc.
• Charm Sciences, Inc.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 on Food Safety Testing Industry
• Increasing Risk of Food Fraud a Major Concern for Food Companies
• Rising Need for Universal Food Safety and Security Regulatory Reforms
• US Implements Safety Norms for Food Safety Companies
• FDA's New Era of Smarter Food Safety
• Requirements on Food Labeling Eased Temporarily in the United States
• Food Safety Emerges as a Major Concern for Public Health Systems
• Increasing Focus on Safe and High-Quality Foods Propels Food Safety Testing Market
• A Bird's Eye View of Food Testing Market
• Growing Need to Curb Foodborne Illnesses Drives Food Safety Testing Market
• Developed Economies Lead the Food Safety Testing Market
• Developing Economies to Spearhead Future Market Growth
• Microbiological Testing Segment Leads, GMO Testing Poised to Post High Growth
• Rising Threat of Pathogen Contamination Drives Growth in Pathogen Testing Market
• Comparison of Foodborne Pathogen Testing Methods
• E. coli Testing Market: Technology Advancements Drive Growth
• GMO Testing: The Fastest Growing Testing Category
• Pesticide Residue Testing Market Rides on the Growing Need to Limit Pesticide Remnants in the Food Supply Chain
• Meat, Poultry & Seafood Products: The Largest End-Use Segment
• Rapid Screening Gains Preference over Traditional Food Testing Procedures
• Traditional Testing Technologies Continue to Rule the Roost
• Leading Food Processors Exhibit Inclination Towards Rapid Microbiological Testing
• Competitive Landscape
• Key Brands in Food Testing Market
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Increase in Number and Complexity of Foodborne Outbreaks and Product Recalls: Food Safety Testing Market Positioned for Growth
• Foodborne Illness Outbreak Investigations in the US (2019 & 2020)
• Rising Food Needs of an Expanding Global Population Turns Focus onto Food Safety
• Globalization Injects Universal Demand for Food Diagnostics
• Highly Regulated Food & Beverage Industry Presents Opportunities for Testing Market
• Food Contract Laboratories to Outdo In-house Labs
• Outsourcing of Food Safety Testing Gathers Steam
• Food Microbiology Testing Market on a Growth Spree
• Rapid and Automated Tests: Attractive Solution for Food Processors
• Emerging Technologies Transform Food Safety Testing Market
• NGS-based Food Safety Testing: A Technology with High-Growth Promise
• Novel & Tested Technologies to Spur Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/tphnt0