NEW YORK , Sept. 23 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Food Safety Testing: Technologies and Markets
http://www.reportlinker.com/p0298004/Food-Saf...rkets.html
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.
INTRODUCTION
STUDY GOAL AND OBJECTIVES
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 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.
The United States now trades with more than 150 countries with food products coming into more than 300 U.S. ports. In the last decade, the number of food "entry lines" has tripled. According to the USDA Economic Research Service, approximately 15% of the overall U.S. food supply by volume is now imported. However, in certain food categories, a much higher percentage is imported. For example, approximately 60% of fresh fruits and vegetables consumed in the U.S. are imported, which fills the gap when U.S. domestic production is inadequate or out of season (e.g., bananas, tropical fruits, etc.). And, imports of seafood have risen from less than 50% of U.S. seafood consumption in 1980 to an estimated 75% in 2010.
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 test satisfies the needs of food processors and, in turn, consumers; 3) identify new technologies and analyze patent activity; 4) analyze the now sizable expenditures in government food safety testing and the market effect of these regulatory programs; 5) pinpoint market conditions for targeted food-processing industries; and 6) examine and profile the most active food-testing suppliers and how they respond to market demands.
REASON FOR DOING THE STUDY
Various forces promote or hamper the growth of the domestic food-safety testing market. Of particular note is the steady flow of media reports documenting contaminated foods, which underscores the vulnerability of the U.S. food supply. That vulnerability creates a continuing need for food processors to deliver safe products, which creates a corresponding need for more advanced and more extensive testing procedures. The advent of tainted imports, the threat of bioterrorism, and the emergence of new contaminant strains also necessitate an evaluation of the market. Finally, regulatory intervention, and mandates, in this sector is substantial and growing. Based on these dynamics, Food Safety Testing: Technologies and Global Markets evaluates market conditions and explores technological advancements.
INTENDED AUDIENCE
This BCC Research report should serve as a valuable basic reference and technology summary for companies interested in entering or expanding their presence in the U.S. food-safety testing market. The comprehensive report consolidates a range of industrial, academic, trade, and technical information that should aid food processors in selecting the best technology to screen for a specific contaminant and keeping current with today's marketplace. Food Safety Testing: Technologies and Global Markets should provide senior marketing personnel and executive planners with insight about contaminants, testing procedures for them, and the foods affected. The market projections and identification of new technologies could also be of interest to venture capitalists interested in exploring commercialization opportunities and companies and personnel involved in designing and constructing ingredient manufacturing plants and/or those that service the plant. In addition, the report could be a key source for the novice reader, who desires to understand how market pressures and technology interact in the food-safety testing industry.
SCOPE OF REPORT
Food Safety Testing: Technologies and Global Markets organizes information from diverse sources and market segments into a cohesive unit that includes summary, overview, technologies, contaminants tested, foods tested, industry structure, international aspects, patent activity, and company market shares and profiles. Market measurements/estimates and forecasts are provided for the U.S. markets, and key market dynamics of other major global markets are discussed and their possible effects analyzed. The summary encapsulates the market conclusions and includes a table summarizing the overall U.S. market. The overview provides general information on contaminants and their sources and effects, testing technologies, foods tested, testing sites, and regulatory influences. The following four technology sections detail current and projected (2010 to 2015) market values for contaminants tested, testing technologies, foods tested, and products tested. The industry structure and competitive aspects section discusses the domestic market environment, strategies, and driving forces, while the international aspects section provides general information on the global market. The patent activity section examines 139 patents issued during 2008 through 2010 and breaks them down into various categories. The company market shares and profiles provide summaries of the leading industry participants and gives their estimated market shares.
METHODOLOGY AND INFORMATION SOURCES
The data found in Food Safety Testing: Technologies and Global Markets were obtained from academic and trade journals, patents, company reports including SEC filings, press releases, relevant technical, medical, and product literature, and voluminous government documents and regulatory requirements germane to food-safety testing.
This 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 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 2009 U.S. market value serves as a base for making estimates for 2010 and projections for 2015.
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