“The impact of COVID-19 on food safety testingmarket isprojected to grow at a CAGR of16.6% in terms of value.”
The realisticCOVID-19 impact on the global food safety testing market is estimated to be valued atUSD 10.5billion in 2020and is projected to reach USD 12.3billion by 2021, recording a CAGR of 16.6%. Growing concerns among consumers for processed fooddue to the outbreak of COVID-19 across the globe will increase the security and safety of food products, thus driving the food safety testing industry growth.
“By testing technologies, the DNA-basedsegmentaccounted for the larger share in 2019.”
The DNA-based segment accounted for a majority share in the food safety testing market. DNA-based technology is used to manufacture multiple copies of genetic materials of microorganisms.This helps in testing the contamination of food products in less duration of time. Due to its ability to test multiple targets simultaneously,it is an effective technology resulting in the segment accountingfor a significant share in the food safety testingindustry.
“By targets tested, the pathogensegment in the impact of COVID-19 on food safety testingmarket is estimated to account for the larger share.”
Based on the targets tested, the market is segmented into pathogen, GMO, mycotoxin, and allergen.The pathogen segmentis estimated to account for the larger shareofthe market,because of growing consumer concern towards pathogen outbreaks. The illness triggered by the prevalence of pathogens in food can be range from mild to severe. Hence, the demand for pathogen testing is expected to rise due totheCOVID-19 pandemic.
“North Americaaccounted for the largest share of the food safety testingindustry, due to the stringent regulationsto controlthe outbreak of food-borne diseases.”
The impact of COVID-19 on the food safety testing market in the North Americanregion is driven primarily by growing consumer awareness toward the safety of food products.The region is also among the largest consumers of packaged and processed food. Strong investment in R&D and technological advancements for laboratories and test kits are expected to have a positive impact on the food safety testing industry in North America.
The COVID-19 impact on the food safety testingmarketis segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, AsiaPacific,and RoW (South America, the Middle East, and Africa).
Break-up of Primaries
- By Company Type: Tier 1 -45%, Tier 2 -30%,and Tier 3 -25%
- By Designation:C-level - 25%,D-level -40%, and Others*-35%
- By Region:Asia Pacific - 55%, Europe - 20%, North America - 15%,and RoW**- 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America, the Middle East, and Africa.
Leading players profiled in this report include the following:
- Eurofins (Luxembourg)
- SGS (Switzerland)
- Intertek (UK)
- Bureau Veritas (France)
- T?V S?D(Germany)
This report segmentstheimpact of COVID-19 on the food safety testing market, based on testing technologies, targets tested, and region. In terms of insights, this research report focuses on various levels of analyses;competitive landscape, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the food safety testingindustry, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons To Buy this report
- To get a comprehensive overview of the impact of COVID-19 on food safety testingmarket
- To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
- To gain insights aboutpessimistic, realistic, and optimistic scenarios of COVID-19 impact on the food safety testing market.