The incessantly increasing
foodborne diseases and simultaneously rising food adulteration are collectively
raising the concerns regarding safety and quality of food products, which is
the prime impetus for the growth of the food testing kits market. Urbanization,
industrialization, trade liberalization, and the growing purchasing power of
consumers are some of the factors that led to the globalization of food trade.
Wherein, the globalization of food trade coupled with increasing food supply-demand
gap has resulted in greater diversity and abundance of food products across the
world, which has raised concerns regarding food safety and quality. The
consumption of contaminated food products due to the presence of harmful
bacteria, pathogens, mycotoxins, or parasites, can cause several illnesses
ranging from diarrhea to cancer. Now, around 600 million fall ill and 420,000
die every year due to the consumption of contaminated food.
Additionally, food adulteration is another major concern of the millennial and food industry. Food adulteration is estimated to cost the global food industry around $10-15 billion per annum. These factors have led to an increase in demand for food testing kits. The food testing kits use technologies such as immunoassay testing technology, enzyme substrate-based technology, and others for applications including food microbiology analysis and food toxin analysis to evaluate the safety and quality of food samples. The beneficial aspects associated with the food testing kits including faster and reliable test results, onsite testing, and cost-effectiveness, are further aiding the growth of the food testing kits market size. Moreover, the festering consequences associated with unhealthy and fraud food has instigated the governments to make food safety a public health priority by drafting and deploying food safety measures and policies. For instance, the Food Safety and Standards Authority (India), Food and Drug Administration (USA), the United States Department of Agriculture, State Food and Drug Administration (China), and Administrative Assistance and Cooperation (AAC) system (Europe) are some of the government agencies that have statutory authority to regulate and prevent food contamination and adulteration. Thus, the stringent food safety regulations has instigated the people involved in food chain to increasingly adopt food testing kits to ensure the quality of the food samples before they supply it. Therefore, the implementation of stringent food safety regulations is considered to be another major factor catapulting the growth of the food testing market share.
The Food Testing Kits Market was valued at $1.9 billion in 2018. Moreover, the demand for the food testing kits is anticipated to grow by leaps and bounds with a CAGR of 7.4% during the forecast period 2019-2025.
Food Testing Kits Market Leveraging Processed Food Industry —
The propitious growth of developing countries coupled with rapid industrialization across the world has paved the way towards the growth in urban population. The urban population in 2018 was accounted for 55% of the total population, and it is projected to reach 68% by 2050. The high working hours and the changing food consumption patterns of the urban people has led to the growth in demand for processed, packaged, and convenience foods. For instance, owing to the rapid increase in urban population, the processed food market in India is estimated to grow from $322 billion to $543 billion during 2018 – 2020. The perpetual growing consumer’s preference for packaged and processed food products is further increasing the food safety concerns. So, the food processing companies are adopting on-site testing kits to test and analyze the quality of the food samples before delivering to the concerned distributors and retailers. Therefore, the food testing kits market is anticipated to grow at a significant pace.
Stringent Food Safety Regulations Aiding North America Food Testing Kits Market—
North America is anticipated to be the most lucrative food testing kits marketplace during the forecast period and was responsible for 35% of the total revenues generated in 2018. The dominance of this region is primarily attributed to the growing focus on food safety and quality in the developed nations of the region including the USA, Canada, and Mexico. The outbreak of several foodborne diseases such as Escherichia coli, Botulism, Campylobacter, Listeriosis, and Salmonella, consequently affected millions of Americans annually. 48 million people suffer from illnesses due to foodborne diseases, 128,000 are hospitalized, and 3000 die every year. The growing instances of foodborne diseases have instigated the government agencies in the region such as the Food and Drug Administration (FDA), Food Safety and Inspection Service (FSIS), and the United States Department of Agriculture (USDA), to implement laws to ensure the quality and safety of food products. Some of the recent laws and regulations include Public Health Security and Bioterrorism Preparedness and Response Act, Sanitary Food Transportation Act, Food Safety Modernization Act, and Agriculture Marketing Act. Thus, increasing food safety concerns have led to a rise in the adoption of food testing kits in this region.
Meat, Poultry, and Seafood Products Segment Growing at Alluring Rate—
On the basis of sample, meat, poultry and seafood products segment is considered to propel at a highest growth rate during the forecast period. The dominance of this segment is attributed to the fact that these food products need testing and inspection on a regular basis for microbiological analysis and for the presence of chemical constituents. With the growing demand for food, meat, poultry, and seafood products are gaining high popularity as they contain key nutrients and proteins for a healthy life. For instance, the global consumption of beef and veal meat was increased from 67.68 million tons in 2016 to 69.49 million tons in 2018. This is an attenuated representation of the perpetually rising consumption of the aforementioned food products. This, in turn, is creating a high emphasis on food quality and safety. There is an increasing demand for testing of the meat products before it is packed and sold to the consumers. Moreover, the improper use of antibiotics and drugs in aquaculture is a major concern for seafood processing companies. So, they are increasingly adopting onsite testing kits for drug residue testing in seafood products. Therefore, the meat, poultry, and seafood products segment is poised to propel at a CAGR of 4.3% through to 2025.
Food Testing Kits Market Companies’ Strategies—
Prominent companies that are continuously adopting intellectual business strategies to secure majority of the global food testing kits market share are Thermo Fisher Scientific, Agilent Technologies, Inc., Eurofins Scientific, bioMérieux, Neogen Corp., PerkinElmer, Inc., Bio-Rad Laboratories, Inc, QIAGEN, EnviroLogix, Inc., IFP Institut Für Produktqualität GmbH, Romer Labs, and Millipore Sigma. Some of the key business strategies adopted by these companies are acquisitions, mergers, partnerships, collaborations, agreements, and expansions. These strategies are intended to gain grounds in the global market and to stay ahead of their competitors. Moreover, they are constantly investing in research and development activities to invent sophisticated and innovative products in order to meet the growing global demand.
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