Government Scrutiny and Rising Competition Challenges for Food Testing Equipment Companies
The past two decades have been a golden period for the food safety testing equipment manufacturers. The paradigm shift in the market has resulted in increased competition and increase in the demand for new food safety testing equipment has breezed out the golden period and created an apprehension amongst the food safety testing equipment manufacturers. The major food scandals around the globe and outrageous food recalls have led to major changes in food testing processes and the government regulations as well and resulted in high demand for food testing. The increase in the global food testing provides a rewarding opportunity to for the food testing equipment manufacturers. But, with rising competition and the demand for new methods, equipment’s are adding to the cost of the company, which may change the golden period into the hard times for the manufacturers.
Various types of food testing equipment are:
· Chromatography systems
· Mass spectrometers
· PCR equipment
· ELISA equipment
· Immunoassay system
· Hybrid systems
· Cytometery system
The rising demand for food testing has provided an opportunity to the food testing equipment manufacturers to introduce new technologies that will help to meet the food testing requirements.
v Pathogen Detection Revolutionized With Rapid Analytical Systems
These rapid pathogen detecting systems provide specific information that enables the food manufacturer to decipher the content better. Therefore, there is a rising demand for rapid methods in the laboratories. The escalating sales of the rapid and automated systems have doubled the number of participants owing mainly to the increase in the number of rapid pathogen testing equipment manufacturers over two decades. Thus, this product segment is a lucrative opportunity. There is also large scope for development of these technologies to serve other areas of testing. The global Food Safety testing market was estimated at $2,189.9m in 2014 and is projected to grow at a CAGR of 6.0% through 2020.
Safety Testing Equipment and Consumables Market: By Food Type (Milk &
Dairy, Fruits & Vegetables, Processed Food, Meat & Poultry, Sea Food,
Cereal & Nuts, Beverages); Contaminants (Pathogens, Toxins, Pesticides,
GMO); Technology (Chromatography, Mass Spectroscopy, PCR, ELISA, Immunoassay,
Flow Cytometry) - Analysis and Forecast to (2014 – 2020)