Global Markets and Technologies for Food Safety Testing
REPORT HIGHLIGHTS: The U.S. market for food-safety testing was valued at $3.3 billion in 2011 and is projected to increase slightly in 2012. In 2017, the market should reach nearly $4.4 billion after increasing at a five-year compound annual growth rate (CAGR) of 5.6%.
The pathogens segment is expected to increase from nearly $3 billion in 2012 to $3.9 billion in 2017, a CAGR of 5.7%.
Toxins are expected to jump from $141 million in 2012 to $162 million in 2017, a CAGR of 2.8%. www.bharatbook.com/devices-market-research-reports/global-markets-and-technologies-for-food-safety-testing.html
STUDY GOAL AND OBJECTIVES
The goal of BCC Research's updated report, Global Markets and Technologies for Food Safety Testing, is to provide an in-depth analysis and forecast of the large and dynamic market for food contaminant testing. Also covered are global technology developments in food testing. There have been dramatic increases in the volume and variety of FDA and USDA regulated food imports arriving at U.S. ports. In fact, the market value of imported agricultural products has increased at a compound annual growth rate (CAGR) of 9% for the last five years. The annual value of imported agricultural products now exceeds $105 billion. Domestic testing concerns as well as this rapidly growing international trade in food has stimulated the demand for more food safety testing in the U.S. and has led to technological innovation in areas such as rapid testing and new test technologies such as biosensors. Food Safety Market
The United States now trades with more than 150 countries with food products coming into more than 300 U.S. ports. In the last decade, the number of food "entry lines" has tripled. According to the USDA Economic Research Service, approximately 15% of the overall U.S. food supply by volume is now imported. However, in certain food categories, a much higher percentage is imported. For example, approximately 60% of fresh fruits and vegetables consumed in the U.S. are imported, which fills the gap when U.S. domestic production is inadequate or out of season (e.g., bananas, tropical fruits, etc.). Thirty-nine percent of the fruits and nuts are imported. And, imports of seafood have risen from less than 50% of U.S. seafood consumption in 1980 to an estimated 85% in 2012.
The objectives of this technical/marketing study include the following:
Quantify the market for testing by specific contaminant.
Discuss the development and marketing of food safety testing technologies.
Describe market trends for the various testing technologies in terms of how each test satisfies the needs of food processors and, in turn, consumers.
Identify new technologies and analyze patent activity.
Analyze the now sizable expenditures in government food safety testing and the market effect of government regulatory programs.
Pinpoint market conditions for targeted food-processing industries.
Examine and profile the most active suppliers of food safety testing products and how they respond to market demands.
REASON FOR DOING THE STUDY
Various forces promote or hamper the growth of the domestic food-safety testing market. Of particular note is the steady flow of media, watchdog, academic and regulatory reports documenting contaminated foods that have led to illness and death. These reports have continually underscored the vulnerability of the U.S. food supply. That vulnerability creates a continuing need for food processors to deliver safe products, which creates a corresponding need for more advanced and more extensive testing procedures. The advent of tainted imports, the threat of bioterrorism, and the emergence of new contaminant strains also necessitate an evaluation of the market. Finally, regulatory intervention, and mandates in this sector are substantial and growing. Of particular note, the Food Safety Modernization Act of 2010 was signed into law in January 2011 by President Obama. Based on all these dynamics, Global Markets and Technologies for Food Safety Testing evaluates market conditions and explores technological advancements.
This BCC Research report should serve as a valuable basic reference and technology summary for companies interested in entering or expanding their presence in the food-safety testing market. The comprehensive report consolidates a range of industrial, academic, trade, and technical information that should aid food processors in selecting the best technology to screen for a specific contaminant and keeping current with today's marketplace. Global Markets and Technologies for Food Safety Testing should provide senior marketing personnel and executive planners with insight about contaminants, testing procedures for them, and the foods affected. The market projections and identification of new technologies will also be of interest to venture capitalists interested in exploring commercialization opportunities and companies and personnel involved in designing and constructing ingredient manufacturing plants and/or those that service the plants. In addition, the report will be a key source for the novice reader, who desires to understand how market pressures and technology interact in the food-safety testing industry.
For more information kindly visit : www.bharatbook.com/devices-market-research-reports/global-markets-and-technologies-for-food-safety-testing.html
- Article Word Count: 782
- Total Views: 10