This report covers the global food safety testing market and Food Safety Testing Market by contaminants like pathogens, pesticides, GMOs, toxins and other contaminants and also includes market estimates and forecast from 2010 to 2018.
Albany, NY -- (SBWIRE) -- 04/22/2016 -- The global food safety products market, which was valued at US$10,152 million in 2010, is projected to be worth USD 19,425.9 million by 2018, as observed by "Food Safety Products Market And Food Safety Testing Market - Global Industry Size, Market Share, Trends, Analysis And Forecast 2010 - 2018", a new research report published by Transparency Market Research.
The global market for food safety products will grow at a CAGR of 8.6% from 2010 to 2018. Similarly, the global food safety testing market, which was worth US$2,566 million in 2010, is expected to reach US$4,891.9 million before 2018 ends, registering growth at an 8.5% CAGR between 2010 and 2018.
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The report has been prepared with the intent of educating stakeholders about the various growth drivers of the market they can capitalize on while devising marketing strategies. The report highlights that the rising incidence of food-borne diseases and ailments caused due to the presence of contaminants such as chemicals and pathogens has emerged as one of the most important factors bolstering the market. Furthermore, growing awareness pertaining to food safety among consumers and stringent regulatory norms introduced by policymakers has created an environment conducive to the growth of the global food safety products and safety testing market. Apart from focusing on the major growth drivers, the report also analyzes the potential market restrains. It was observed by the analysts that food safety products manufacturers need to address concerns such as a lack of awareness regarding food safety in developing and underdeveloped economies and lack of uniformity among regional compliance regulations to expand their operations and capitalize on existing market opportunities.
Among the various product segments, disinfection products emerged as the largest segment, accounting for 43% of the global market in 2011. The disinfection products market, which was valued at US$4,451.7 million in 2010, is projected to be worth US$8,285.1 million by the end of 2018, registering growth at an 8.2% CAGR over the forecast period. Smart labels and tags, however, are anticipated to emerge as the fastest growing product segment, registering growth at a remarkable CAGR of 9.1% between 2010 and 2018.
Geographically, Europe was the largest market for both food safety products and food safety testing, accounting for 34% of the global market in terms of revenue in 2011. The region was followed by North America and Asia Pacific. However, the findings of the report indicate that over the next few years the demand for food safety products and food safety testing in Asia Pacific is expected to bloom, therefore, making the region the fastest growing market till 2018.
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According to the report companies such as Thermofischer Scientific, Biocontrol Systems Incorporated, Douglas Scientific, Agilent Technologies Incorporated, Roka Bioscience, IDDEX Laboratories INC, Bio-Rad Laboratories Incorporated, and Ecolab Incorporated dominate the global market for food safety products and food safety testing.
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