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Global Market Trajectory & Analytics



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  •  DATE

    JULY 2020



  •  PAGES




  •  PRICE

    USD $5600


Impact of Pandemic & Economic Slowdown

Monitor Market Dynamics!
Early March 2020, we reached out to senior enterprise executives who are driving strategy, business development, marketing, sales, product management, technology and operations at competitive firms worldwide. Our ongoing survey is focused on how this will this affect their business ecosystems. We invite you to participate in our survey and add to collective perspectives. Market movements are tracked for 2020, 2021 and broadly for the period of 2022 through 2025. Critical changes are monitored dynamically for the rest of this year. Updated analytics will reflect new and evolving market realities. Our first update scheduled for May 2020 and another in the Fall. Clients receive complimentary updates during 2020. If your company is a recent client for this project, we may have already reached out to your colleagues to participate in our program. If you're an active player in the space but hasn't yet subscribed to our project, we invite you to participate and share your perspectives. Please sign-up here.

The importance of food safety testing cannot be undermined even during a pandemic. Food safety control systems have and will continue to conduct routine functions and activities even amidst the worsening pandemic in accordance with international recommendations. To ensure integrity of food chain, routine activities such as inspection of food business operations; certifying food imports coming into the country and exports leaving the country; sampling and analysis of food, must be carried out without disruptions. Continuous monitoring of food safety issues and providing food regulatory advice for the food industry is necessary to protect public health even when the world is caught in the storm of the pandemic. Against this backdrop, the global food safety testing market will stay on course to reach a projected US$25.7 billion by 2027 exhibiting a CAGR of 5.8% over the analysis period. Food safety testing is an important element in maintaining international food trade relationships. Additionally with new scientific evidence showing certain corona virus strains as being capable of surviving at low and freezing temperatures, testing of unprocessed chilled and frozen food products like raw meat becomes important. Scientists today believe that the family of corona viruses has the ability to withstand freezing temperatures and COVID-19 is likely no exception. Research studies on SARS-CoV and MERS-CoV have shown that corona viruses are stable in freezing temperatures and can survive for up to two years at -20 degrees Celsius. Two strains of COVID-19 viruses have already shown capable of surviving for up to 72 hours at the average temperature of 4 degrees Celsius. Food Hygiene and food safety practices therefore remain important in preventing COVID-19 transmission through food.

With food quality standards aggressively enhanced by countries in the mist the global contagion, food safety testing will become mandatory and will grow in demand as global food trade resumes. Countries most dependent on food imports such as Afghanistan, Yemen, Niger, Saudi Arabia, Russia, UK, USA, EU, the Middle East, Latin America, Asia-Pacific, will drive demand for food testing in times of COVID-19. In several countries food testing laboratories have therefore been declared as essential services as it is essential to facilitate trade and ensure smoother food chain operations across the country and international borders. In a desperate bid to give the economy a fighting chance to heal and recover, countries are now cautiously lifting lockdown regulations. Global trade in food is also expected to improve by the end of 2020. This will create demand for food testing services which are an integral part of export certification, import control services, food incident management and investigation of food complaints.

Also, reducing food testing capacity of food laboratories will increase the risk of food fraud. Food safety authentication is therefore vital in food fraud prevention especially at a time when agriculture and food supply chains are under immense pressure. Lockdowns and movement restrictions of good and people have resulted in sizable losses in agricultural output. Food supply chains therefore stand disrupted with ingredients and other raw materials in short supply. This increases the risk of fraud in the food supply chain as desperate food processing companies rope in new suppliers to fill the gap. Suspension or cancellation of food inspections and food sampling will fraudsters a free reign. The coming months will therefore witness the focus on food safety and certification strengthen and testing and analysis in food laboratories take precedence.

» Test Type (Microbiological Testing, Residues & Contamination Testing, Chemical & Nutritional Testing, Allergen Testing, GMO Testing, Other Test Types) » Technology (Rapid, Traditional) » Application (Meat, Poultry, & Seafood Products » Processed Food » Dairy & Dairy Products » Beverages » Cereals & Grains » Other Applications)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » Spain » Russia » and Rest of Europe » Asia-Pacific » Australia » India » South Korea » and Rest of Asia-Pacific » Latin America » Argentina » Brazil » Mexico » and Rest of Latin America » Middle East » Iran » Israel » Saudi Arabia » United Arab Emirates » and Rest of Middle East » and Africa


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