The U.S. food safety testing market value increased from $2.0 billion in 2006 to an estimated $2.1 billion in 2007. it should reach $2.8 billion by 2012, a compound annual growth rate (CAGR) of 5.8%.
The growth rate reflects demand for pathogen testing, where implementation of standard hygiene practices and a stringent regulatory environment has slowed the incidence of microbial infections.
The potency of toxins should propel testing for contaminants from a $78 million market in 2007 to a $135 million market in 2012, a CAGR of 11.6%.
Report Code: FOD011E, Published: December 2007, Analyst: Norma Corbitt
INTRODUCTION
The goal of BCC Research's updated Food Safety Testing: The U.S. Market report is to provide an in-depth analysis of the domestic market for testing the nation's food supply for contaminants. The objectives of this technical/marketing study include the following: 1) discuss market trends for specific contaminants and their influence on the development and marketing of appropriate testing instruments; 2) describe market trends for the various testing technologies, in terms of how each satisfies the needs of food processors and, in turn, consumers; 3) analyze the market effect of regulatory programs; 4) pinpoint market conditions for targeted food-processing industries; and 5) examine the most active food-testing suppliers and how they respond to market demands.
SCOPE OF STUDY
This report contains:
Information on the sources and effects of contaminants such as pathogens and toxins
The current market status of food safety testing by contaminant, trends, and forecasts for growth over the next 5 years
Discussion of technologies along with a thorough patent analysis
Analysis of the market effect of regulatory programs
Profiles of major industry players including their estimated market shares.
INFORMATION SOURCES
The data found in Food Safety Testing: The U.S. Market come from extensive telephone interviews with key executives of the leading U.S. companies and domestic representatives of foreign companies involved in the production of testing instruments. The expert and reasoned comments of the sources, combined with information gleaned from trade journals, patents, company reports, press releases, relevant technical, medical, and product literature, and government documents germane to food-safety testing, provide the basis for the contents of the report.
The information has been used to estimate U.S. market values, which are based on the number of testing instruments sold multiplied by an average manufacturer's per-test price. The market values have been rounded to the nearest million in dollars. The information has also been used to formulate compound annual growth rates (CAGRs). Where precise information was not available, a consensus was made using a formulation of reasonable assumptions and estimates based on historical data. In this report, the 2006 U.S. market value serves as a base for making estimates for 2007 and projections for 2012.
ANALYST CREDENTIALS
The author of this report, Norma Corbitt, is a senior analyst with BCC Research, with 21 years of experience with the company. In that time, Ms. Corbitt has written a number of other BCC reports, with the latest being Excipients in Pharmaceuticals and Protein Ingredients in Processed Foods. She also has edited a number of the company's monthly newsletters.
Report Code: FOD011E, Published: December 2007, Analyst: Norma Corbitt
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