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National & World Ag News Headlines |
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Food Testing Kits Market Worth $2.38 Billion by 2022
USAgNet - 01/23/2018
The report "Food Testing Kits Market by Target Tested, Technology, Sample, and Region - Global Forecast to 2022," published by MarketsandMarkets, predicts the market is estimated to be valued at $1.68 billion in 2017, and is projected to reach $2.38
billion by 2022, at a CAGR of 7.2% from 2017.
The global Food Testing Kits Market is expanding with a considerable growth potential over the next five years. The market is driven by factors such as the increase in incidences of foodborne illnesses, higher demand for faster and reliable test results,
globalization of food trade, implementation of stringent food safety regulations in developed countries, increase in competition leading to increased R&D activities, and greater preference for on-site testing.
The pathogens segment is estimated to account for the largest market share in the Food Testing Kits Market in 2017. Incidences of infectious gastrointestinal diseases caused due to foodborne pathogens, new emerging foodborne pathogens due to pathogen
evolution, changes in agricultural & food manufacturing practices, and changes in human host status are some of the factors driving the growth of pathogens segment in the Food Testing Kits Market.
The immunoassay-based segment is estimated to account for the largest share in the Food Testing Kits Market, in terms of value, in 2017. The immunoassay-based segment dominated the market for technology in 2016. Immunoassay-based technology is used
for screening of a wide variety of targets tested in food, such as pathogens, meat species, GMOs, allergens, pesticides, mycotoxins, and other residues. Also, it is cost-efficient and offers rapid test results. These are some of the factors fueling the growth of
immunoassay-based segment in the Food Testing Kits Market.
Meat, poultry, and seafood are widely tested for contaminants such as pathogens, other meat species, GMOs, and allergens. Stringent regulatory policies by leading authorities to prevent contamination of and allergies caused by meat & meat products in
slaughterhouses and processing plants form a significant factor responsible for the growth of this segment in the Food Testing Kits Market.
High prevalence of allergic population in the US, increased focus of consumers on transparency and traceability in food supply chains in the region, significant incidences of foodborne outbreaks, and stringent government regulation implemented in this region are
some of the factors driving the growth of the Food Testing Kits Market in the North American region. Strict regulatory inspection and testing requirements in Canada and growing focus on food safety in Mexico are supporting the growth of Food Testing Kits
Market in the North American region.
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