Food Safety Testing Market to Reach $1.67 Billion by 2010, According to New Report By Global Industry Analysts, Inc.
San Jose, CA (PRWEB) April 16, 2008 -- Food Safety Testing refers to examination of food products for disease causing organisms, chemical residues and other hazardous material. Food processing companies are increasingly turning towards food safety tests to ensure that supplies to consumers are free of any harmful pathogens. As globalization of food supply, heralds the globalization of food safety, problems and solutions concerning food safety are no longer confined within the borders of a single country. Increasing public attention to microbiological hazards is also driving change in food safety industry. Rapid microbial testing is being extensively preferred all over the world, due to the advantages of accurate testing within less time.
United States and Europe represent the major markets accounting for over 55% of the global food safety testing market (http://www.strategyr.com/Food_Safety_Testing_Market_Report.asp) as stated in a recent report published by Global Industry Analysts, Inc. Federal regulations are compelling food processors in the regions to test food products for hazardous material or microorganisms. In addition, the fact that consumers usually avoid buying products from food companies accused of selling tainted products is prompting food processors to offer products that are free from any harmful organisms.
Asia-Pacific represents one of the fastest growing markets for food safety testing in the world. However, food safety hasn't been given its due (except in Australia and New Zealand), particularly in largely populated countries such as China and India. Hardly a few regulations are in place to monitor hygienic practices by food companies in the region. The highly fragmented food industry in these regions makes it particularly difficult for authorities to strictly implement regulations. Market for food safety testing in Asia-Pacific is projected to register a CAGR of 11.6% over the period 2000-2010.
Pathogen testing represents the largest segment in the global food safety testing market. Worldwide pathogen testing products (http://www.strategyr.com/Food_Safety_Testing_Market_Report.asp) market is estimated at $992 million in 2008. In terms of end-use, the processed foods industry represents the largest end use market for food safety testing products in the world. GMO testing products represent the fastest growing segment. GMO Testing market (http://www.strategyr.com/Food_Safety_Testing_Market_Report.asp) in Europe is projected to register a CAGR of 10.7% over the period 2000-2010. The United Kingdom represents the leading market for food safety testing in Europe.
Major players profiled in the report include 3M Microbiology, AES Chemunex SA, Biolog Inc., Celsis International Plc., Charm Sciences, Inc, Dupont Qualicon, FOSS, GeneScan Europe AG, Genetic ID, Neogen Corporation, R-Biopharm AG, and Strategic Diagnostics Inc
"Food Safety Testing: A Global Strategic Business Report", published by Global Industry Analysts, Inc., covers major market dynamics, growth drivers, restraints, trends, issues, and competition pertaining to the market. The report enumerates recent developments, mergers, acquisitions and other strategic industry activities. Analysis is presented for major geographic markets including US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East and Latin America. Analytics for the period 2000 through 2015 are provided in terms of product segments including pathogen testing, pesticide testing and GMO testing. End use segments discussed include processed food, dairy and meat.
For more details about this research report, please visit http://www.strategyr.com/Food_Safety_Testing_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www.strategyR.com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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