The report “Food Testing Kits Market by Target Tested (Pathogens, Meat Species, GMOs, Allergens, Mycotoxins), Technology (PCR, Immunoassay, and Enzyme Substrate based), Sample (Meat, Packaged Food, Cereals, Grains, Dairy & Nuts), and Region – Global Forecast to 2022″, The food testing kits market is estimated to be valued at USD 1.68 Billion in 2017, and is projected to reach USD 2.38 Billion by 2022, at a CAGR of 7.2% from 2017.
The global food testing kits market is expanding with a considerable growth potential over the next five years. The market is driven by factors such as the increase in incidences of foodborne illnesses, higher demand for faster and reliable test results, globalization of food trade, implementation of stringent food safety regulations in developed countries, increase in competition leading to increased R&D activities, and greater preference for on-site testing.
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The key market players adopted strategies such as new product & technology launches, expansions, acquisitions, agreements, collaborations, and mergers & partnerships to meet the growing demand for food testing kits.
Thermo Fisher (US), Agilent (US), Eurofins (Luxembourg), bioMérieux (France), and Neogen (US) are the major players in this market. Other active players in the industry include PerkinElmer (US), Bio-Rad (US), QIAGEN (Germany), EnviroLogix (US), IFP Institut Für Produktqualität (Germany), Romer Labs (Austria), and Millipore Sigma (US).
Thermo Fisher is one of the leading food testing kits providers, owing to its strong global presence and product offerings. The company focused on increasing its geographic presence through acquisitions and expansions to meet market demand between 2012 and December 2017. In September 2016, Thermo Fisher opened its new global headquarters in Waltham, Massachusetts, US. This new facility is 286,000 square-feet in area and is established according to green building rating systems, which provides it eligibility for LEED (Leadership in Energy & Environmental Design) silver certification. In March 2017, Thermo Fisher acquired Core Informatics LLC (US) a leading provider of the cloud-based platform supporting scientific data management. It will strengthen Thermo Fisher’s existing informatics solutions, which will enhance the company’s offering of genetic analysis, qPCR, and proteomics systems.
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Eurofins is another leading player in the market due to its wide range of food testing kit products. The company capitalizes on a portfolio of 150,000 reliable analytical methods that enable it to offer services that characterize the safety, identity, purity, composition, authenticity, and origin of products and biological substances. It has adopted expansions and acquisitions as key strategies to increase its geographic network. In May 2016, Eurofins acquired the food, water, and pharmaceutical testing businesses of Exova (UK) in the UK and Ireland for USD 20.4 million to strengthen its footprint and expand its clientele in the region.