US food safety testing market expected to reach $8.5

Portland, OR, July 19 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the US food safety testing market was estimated to reach $4.5 billion in 2020 and is projected to reach $8.5 billion by 2030, registering a CAGR of 6.7% from 2021 to 2030. The report provides a detailed analysis of the major pockets of investment, winning strategies, drivers and opportunities, market size. & estimates, the competitive landscape and changing market trends.

The implementation of strict regulations related to food fraud, the increase in economically motivated adulterations (EMA) due to the strong competition between food producers and the increase in cases of food degradation such as adulterations, False labeling and certification are driving growth in food safety testing in the United States. market. On the other hand, the complexity of testing techniques limits the growth to some extent. However, high-end technological advancements and the emergence of new techniques for easy fraud detection are expected to create lucrative opportunities in the industry.

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Covid-19 scenario-

  • Scarcity of raw materials, import-export ban, and supply chain disruption have negatively impacted the US food safety testing market, especially during the initial phase.
  • However, the market should get back on track soon.

The US food safety market is analyzed by type, foods tested and technology. Based on technology, PCR-based testing segment contributed nearly half of the total market share in 2020 and is expected to lead by 2030. The same segment would also cite fastest CAGR by 7.1% from 2021 to 2030.

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Based on the foods tested, the processed segment accounted for about two-fifths of the total market revenue in share in 2020 and is expected to reign the roost by 2030. The meat and meat products segment, however, is expected to grow in Fastest CAGR of 7.3% from 2021 to 2030.

Based on the type, the pathogenic segment held the major part in 2020, generating more than two-fifths of the total market. Meanwhile, the chemicals and toxins segment would quote the fastest CAGR of 8.2% during the forecast period.

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Key market players analyzed in the US Food Safety Testing Market report include Bio-Rad Laboratories, Inc., TUV SUD AG Eurofins Scientific, Intertek Group Plc, Microbac Laboratories, Inc., Bureau Veritas SA, PCAS Labs, SGS SA, Thermo Fisher Scientific, Inc. and ALS Limited. These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures and others to showcase their prowess in the industry.

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About Us

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.


        

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