Concern of Consumer Safety to Boost the Global Food Testing Kits Market with CAGR of 6.85% by 2025: QY Research
Industry: Business
The new report on the global Food Testing Kits market comes out as an extremely useful resource that helps players to gain a competitive edge over their toughest competitors. It can be customized as per requirements.
Los Angeles, CA (PRUnderground) February 18th, 2020
Food testing kits are essential components of the food and beverage industry used for inspecting disease causing organisms, hazardous materials, and chemicals. In the forthcoming years, the burgeoning food and beverages industry is expected to have an unprecedented impact on the food testing kits market. QY Research has recently published a report titled “Global Food Testing Kits Market Insights, Forecast to 2025”. According to the report, the global food testing kits market was worth US$1757mn during 2018 and is expected to reach US$2793mn by the end of 2025, registering a CAGR of 6.85% during the forecast period.
Stringent Safety Standards to Boost Demand for Food Testing Kits
Food testing kits are expected to rise in demand as they aid inspection of genetically modified organisms, chemicals, and pathogens that could be present in various food items. The growing instances of food fraud due to manufacturers altering food ingredients for cheaper or harmful components to make financial gains is directing impacting the uptake of food testing kits. These kits play a crucial role in detecting unfit, mis-described, and potentially harmful food items.
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Consumption of toxic or contaminated food can result in illness and even death. Therefore, implementation of regulation by organizations such as Canadian Food Inspection Agency, Food Safety and Standard Authority of India, European Food Safety Authority, and Food Standards Agency on food and beverages to ensure safety is likely to boost the demand.
Extensive Dairy Consumption to Boost Demand for Food Testing Kits
Focus on wholesome nutrition, government initiatives to offer mid-day meals in schools, and investments in dairy farms have improved access to dairy products over the years. Thus, the dairy products segment is expected to rise in demand during the forecast period as they are the highest consumed food items in the world.
Strict Government Policies to Push North America as the Leading Region
North America is expected to lead the global market as this region accounts for the maximum shares for the food testing kits market. This region also has strict government policies and regulatory bodies to maintain food standards and protect the health of consumers.
Key players in the market are engaging in updating their inventories and equipment to deliver better and faster results. They are also investing and collaborating to increase competition in the market.
The key players operating in the global food testing kits market are Thermo Fisher Scientific, Agilent, Eurofins Scientific, BioMérieux, Neogen, Merck Millipore, Bio-Rad, QIAGEN, PerkinElmer, and Danaher.
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QY Research is a leading global market research and consulting company. Established in 2007 in Beijing, China, QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and custom research to help our clients in providing non-linear revenue models and make them successful. We are globally recognized for our expansive portfolio of services.
