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Global Food Safety Products and Food Safety Testing Market is Expected to Reach USD 19,425.9 million and USD 4,891.9 million respectively in 2018: Transparency Market Research

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SOURCE Transparency Market Research

NEW YORK ,  October 16, 2012 /PRNewswire/ --

According to a new market report published by Transparency Market Research ( http://www.transparencymarketresearch.com ) " Food Safety Products Market and Food Safety Testing Market : Global Industry Size, Market Share, Trends, Analysis and Forecast, 2010 - 2018 ," the global market for food safety products was estimated to be worth  USD 10,152 million in 2010, and is expected to reach  USD 19,425.9 million by 2018, growing at a CAGR of 8.6% from 2013 to 2018. Whereas, the global market for  food safety testing market was valued at  USD 2,566 million in 2010 which is expected to reach a market worth  USD 4,891.9 million by 2018, growing at a CAGR of 8.5% from 2013 to 2018.

Browse the full report at http://www.transparencymarketresearch.com/foo...arket.html

Some of the major factors driving the global growth of the food safety products market include growing outbreaks of food borne diseases caused due to presence of contaminants such as pathogens and chemicals in the food, stringent regulatory compliance norms and growing awareness regarding food safety among consumers.

Other factors which are impacting the overall market positively are the globalization of food supply trade which is increasing the level of cross contamination in food and food products, thus creating an increased need for food safety products and testing. However, the variation in the tests required for different food types and lack of food safety awareness in developing and under-developed countries along with a lack of uniformity among regional regulations are key factors expected to restrain the market.

Disinfection products are the largest product type, accounting for 43% of the global market in 2011. The market for disinfection products was estimated to be worth  USD 4,451.7 million in 2010 and is expected to reach  USD 8,285.1 million by 2018, growing at a CAGR of 8.2% from 2013 to 2018. In terms of growth, smart labels and tags are expected to be the fastest growing product segment, growing at a CAGR of 9.1% from 2013 to 2018.

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