The food safety testing market is projected to grow at a CAGR of 9.9% from 2015, to reach USD 791.5 Million by 2020. The market growth is driven by changing consumers’ attitude and concerns of retailers for safe and quality food, positive structural changes in the Chinese food safety regulations, high occurrence of food safety incidents in China, and globalization of food trade and China’s rising food exports.
Pune, India -- (SBWIRE) -- 03/31/2016 -- The report "Impact Analysis: China Food Safety Testing Market & Regulations", Food safety testing market in China is estimated to reach USD 791.5 Million by 2020 and is projected to grow at a CAGR of 9.9% from 2015 to 2020
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The growing level of foodborne illnesses due to food contamination and the rising inclination of consumers toward better quality and safe food have led to the growth of the food safety testing market for varied food products in China. Furthermore, the growth of the food safety testing market is influenced by the rising trade food products, and the increasing severity of food scandals and frauds and other malpractices including cases of food adulteration.
Pathogen testing to dominate the Chinese food safety testing market
In 2014, pathogen testing dominated the Chinese food safety testing market, owing to its contagious agents liable for food contamination and initiating disease to its host. The high intensity of food contamination cases has caused a significant impact on consumer health, and a growing level of serious food safety concerns in China. Therefore, this has prompted the need of food pathogen testing. Thus, the food safety testing market has a significant growth potential in the upcoming years.
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High level of importance of meat & poultry to the Chinese food industry
The meat & poultry segment, in terms of trade and domestic demand, is projected to grow at a significant rate in the upcoming years. Meat & poultry products are often exposed to a high level of contamination along with malpractices such as adulteration. Thus, safety testing for this segment is projected to grow at a significant rate from 2015 to 2020.
High occurring incidences of foodborne illnesses, positive structural changes, and globalization of food trade to have an impact on the food safety testing market in China
The growing number and intensity of food contamination cases, scandals, and frauds has caused a significant impact on consumer health. With globalization of food trade and increasing import-export activities between China and the rest of the world, the food safety testing market in China is projected to experience a significant growth in the upcoming years, which would result in positive structural changes in the Chinese food safety regulations.
This report includes a study of food safety testing-regulatory framework and compliance strategies. It includes the competitive landscape of leading companies, which include Silliker Inc. (U.S.), Neogen (U.S.), Intertek group PLC (U.S.), and TÜV Rheinland (Germany), among others.
In terms of insights, this research report has focused on various levels of analyses opportunity analysis, impact & industry analysis which together comprises and discusses the basic views on the competitive landscape; emerging and high-growth segments of the Chinese food safety testing market; and their respective regulatory policies; government initiatives; and drivers, restraints, and opportunities.
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