A recent report published by Infinium Global Research on meat testing market provides in-depth analysis of segments and sub-segments in the global as well as regional meat testing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional meat testing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global meat testing market. According to the report, the global meat testing market is projected to grow at a CAGR of 6.3% over the forecast period of 2019-2025.
Growing incidence of the food adulteration in the high priced food products such as meat is forcing the government to take several stringent measures to curb this menace. This is motivating the meat processors to ensure the quality of their meat food products to avoid the litigation and financial penalty from consumers and governments. Recently, In India, there was an incidence of application of the chemical to freshen up the rotten meat. This cause a heavy financial loss to several retail chain organizations and departmental store in term of litigation and government penalty. Several developing countries are facing meat adulteration incidence and forcing the government to promulgate and implement harder and stringent meat food policies. Further, pro meat testing attitude of the meat processing companies helps them to charge a premium price for their products.
The continuous growing incidence of the meat adulteration incidence is helping to grow the demand of the meat testing market. Further growing awareness about the side effects of eating the adulterated meat on the health is causing financial loss to several companies, who are not engaged in such dubious work also. Hence, they are adopting the pro-consumer attitude and every year trying to update their meat tasting standard and getting certified by the third party for their work. This is helping to boost their own brand image also. This factor is helping to grow the market in a positive direction. However, the cost factor of different type of meat testing equipment and lack of awareness about the different type of meat testing procedure is restricting the growth of the market.
Geographically, meat testing market is segmented into four regions namely North America, Europe, the Asia-Pacific, and Row. North America is the largest market6 of the meat testing market, owing to the presence of the several food safety measures and stringent penalty and compensation provision by the government in this region. Europe is the second-largest market of the meat testing market after North America. The Asia-Pacific is expected to grow at the highest CAGR during the forecasted period, owing to the growing demand of the different type of the meat-based ingredient among the youth and middle-class consumers in this region.
The report on global meat testing market covers segments such as target tested, sample type, technology, and form. On the basis of target tested, the sub-markets include pathogens, species, GMOS, allergens, mycotoxins, heavy metals, veterinary drug residues, and other target tests. On the basis of sample type, the sub-markets include meat, and seafood. On the basis of technology, the sub-markets include traditional testing, and rapid testing. On the basis of form, the sub-markets include raw meat, and processed meat.
The report provides profiles of the companies in the market such as LGC Group, Romer Labs Inc., Genetic ID Inc., Microbac Laboratories, Inc., AsureQuality Limited, Bureau Veritas S. A., TÜV SÜD, Mérieux NutriSciences, ALS Limited, and Intertek Group plc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of meat testing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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