According to a new report published by Allied Market Research, titled, “U.S. food safety testing Market by Type, Food Testing and Technology: Opportunity Analysis and Industry Forecast, 2021–2030,”
The U.S. Food Safety Testing Market Size was valued at $4.5 billion in 2020, and is estimated to reach $8.5 billion by 2030, registering a CAGR of 6.7% from 2021 to 2030. In 2020, the polymerase chain reaction (PCR) technology segment accounted for nearly half of the total food safety testing market.
Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, sale of food that is unfit and potentially harmful with deliberate mis-description of food.
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Increased economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds in the country, is the prime factor that boosts the U.S. Food Safety Testing Market Growth during the forecast period.
Various regulations on food safety particularly in the developed economies, growth in instances of food fraud, and rise in economically motivated adulteration (EMA), owing to high competition among food producers, drive the food safety testing market.
However, high cost of food safety testing, complexity in testing techniques, and lack of harmonization of regulations are anticipated to hamper the U.S. Food Safety Testing Industry Growth.
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In 2020, the processed food segment was the leading revenue contributor to the U.S. food safety testing market. The processed food segment includes numerous processed products, such as infant formula, packaged food, wine, bakery & confectionery, and other processed food products; hence, there is a large possibility for food adulteration.
The report emphasizes on different types. By type, the U.S. food safety testing market is classified into pathogen, genetically modified organism (GMO), chemical & toxin, and others. Depending on food tested, the market is categorized into meat & meat product, dairy & dairy products, cereal, grain, & pulse, processed food, and other ingredients. According to different technologies used for food safety testing, the market is segmented into agar culturing, PCR-based assay, immunoassay-based, and others.
Key findings of the study by type, the Pathogen segment dominated the market in 2020 and is likely to remain dominant during the forecast period.
By food tested, Meat and Meat Product is anticipated to fastest growing segment during the forecast period.
By technology, PCR-based Assay segment dominated the market in 2020 and is likely to remain dominant during the forecast period.
The players operating in the U.S. food safety testing market have adopted various developmental strategies to increase their U.S. Food Safety Testing Market Share, gain profitability, and remain competitive in the market. The key players operating in the U.S. Food Safety Testing Market Analysis include- ALS Limited, Bio-Rad Laboratories, Inc., Bureau Veritas SA, Eurofins Scientific, Intertek Group Plc, Microbic Laboratories, Inc., PCAS Labs, SGS SA, Thermos Fisher Scientific, Inc., and TUV SUD AG.
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