Dairy Testing Market Worth $5.90B By 2022
by MarketsandMarkets
Posted: 2017-09-29 15:39:34 EST

PUNE, India - The report "Dairy Testing Market by Type (Safety (Pathogens, Adulterants, Pesticides), Quality), Technology (Traditional, Rapid), Product (Milk & Milk Powder, Cheese, Butter & Spreads, Infant Foods, Ice Cream & Desserts, Yogurt), and Region - Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 5.90 Billion by 2022 from USD 4.13 Billion in 2017, at a CAGR of 7.4% from 2017. The market is driven by the increase in outbreaks of foodborne illnesses, globalization of dairy trade, and stringent safety & quality regulations for food. Lack of coordination among market stakeholders and improper enforcement of regulatory laws & supporting infrastructure in developing economies are the major restraints for this market.

The market for safety testing is projected to be the fastest-growing, by type, from 2017 to 2022. Significant emphasis being laid on safety testing of food output with regulatory authorities focusing on addressing regulatory loopholes, preventing adulteration, malpractices, and labeling mandates are driving the market for safety testing of dairy.

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Rapid technology is projected to be the fastest-growing market during the forecast period

Rapid technology is projected to be the fastest-growing during the forecast period due to its low turnaround time, higher accuracy, sensitivity, and ability to test a wide range of contaminants in comparison to traditional technology.

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Asia Pacific is projected to be the fastest-growing market during the forecast period

The market in the Asia Pacific region is driven by the growing consumer awareness and increasing health consciousness coupled with growing investments by testing companies in the region. Also, Asia Pacific is home to major dairy producing countries such as China, Australia & New Zealand, and India as these countries are becoming more aware of food safety and are implementing regulations for their testing.

The report Dairy Testing Market includes a study of marketing and development strategies, along with the service portfolios of leading companies. It also includes the profiles of leading companies such as SGS, Bureau Veritas, Intertek, Eurofins, TÜV SÜD, and ALS Limited, among others.

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Source: MarketsandMarkets