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New Market Report on Food Safety Testing: Technologies and Markets

The goal of BCC Research's updated report, Food Safety Testing: Technologies and Global Markets, is to provide an in-depth analysis of both the large US domestic market for food contaminant testing and significant new global technology developments.

There have been dramatic changes in the volume, variety, and complexity of FDA-regulated food products arriving at U.S. ports. This 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 complex sensors.

Report Highlights

The total U.S. food safety testing market is valued at $3.4 billion in 2010 and is projected to increase at a 6.6% compound annual growth rate (CAGR) over the next 5 years. The total sector market value should climb to $4.7 billion in 2015.

The need to preserve foreign markets has testing for genetically modified organisms (GMOs) on the upswing and should propel a compound annual growth rate (CAGR) in that market at a projected 4.7% through 2015 when the market value should be $126 million, up from $100 million for 2010.

At present, the sheer number of bacteria, and the amount of routine testing conducted, give pathogens the lion´s share ($3 billion) of the $3.4 billion U.S. food-safety testing market value for 2010. This sector will increase at a 6.7% compound annual growth rate (CAGR) to reach $4.2 billion in 2015.

NOTE: This item is from our 'historic' database and may contain information which is not up to date.

Source : BCC Research View Company Information

Posted on September 28, 2010