Demand For Food Safety Sees Food Testing Kits Market Expanding
Wednesday, March 14th, 2018 | 106 Views
The global food testing kits market is estimated at a value of US$1.68 billion in 2017 and is projected to reach US$2.38 billion by 2022, rising at a compound annual growth rate of 7.2 percent, according to MarketsandMarkets.
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, globalisation of food trade, implementation of stringent food safety regulations in developed countries, increase in competition leading to increased research and development activities, and greater preference for on-site testing.
The pathogens segment is estimated to account for the largest market share in 2017. Incidences of infectious gastrointestinal diseases due to foodborne pathogens, new emerging foodborne pathogens due to pathogen evolution, changes in agricultural and food manufacturing practices, and changes in human host status are some of the factors driving the growth of pathogens segment.
On the basis of technology, the immunoassay-based segment is estimated to account for the largest share in terms of value in 2017. 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. Moreover, it is cost-efficient and offers rapid test results.
On the basis of product tested, the meat, poultry, and seafood segment is estimated to be the largest among samples tested in 2017. 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 and meat products in slaughterhouses and processing plants form a significant factor responsible for the growth of this segment.