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Food safety testing market to increase at a CAGR of 7% through to 2018

Press Release   •   Jul 04, 2013 09:45 BST

The global food safety testing market has been forecast to increase at a compound annual growth rate (CAGR) of 7% over the next five years, increasing from a valuation of $9.26 billion at the end of 2012, to a total of $14.03 billion by 2018.

In terms of region, North America represents the largest player within the industry, dominating with a 40% market share in 2012. The United States market alone is forecast to reach $4 billion by 2018, according to a recently published report, 'Food Safety Testing Market: Global Trends and Forecast to 2018.'

Key players currently dominating the food safety testing market include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group Plc. (U.K.), and DNV (Norway). These players have focused on introducing new products and services, mergers, acquisitions, and the expansion of their business segments to maintain their position in the market.

The consumption of contaminated food leads to outbreak of food-borne illness and poisoning. Contamination of food can occur due to exposure to contaminated equipments or raw materials, contaminated water, improper handling, and inefficient treatment.

Food products have been contaminated by pathogens, toxins, genetically modified products, pesticides, and other contaminants such as food allergens and chemical residues.

The main cause of food poisoning or food-borne illness has been pathogens. In 2012, pathogen testing dominated the food safety testing market in which salmonella testing accounted for the major share. Food contamination by salmonella and major food recalls due to salmonella contamination has led the salmonella testing.

Increasing food contamination and the outbreak of shiga toxin-producing E. coli (STEC) poisoning has resulted in the increase in the frequency of E. coli testing in the global market. The rapid technology market to detect the presence of contaminants has been increasing owing to the fact that they are time & cost-effective as compared to traditional culturing and enrichment methods.

For more information on the food safety testing market, see the latest research: Food Safety Testing Market

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