LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Meat Testing Global Market Report 2024, the meat testing market has witnessed robust growth, escalating from $10.03 billion in 2023 to $10.94 billion in 2024, boasting a notable compound annual growth rate (CAGR) of 9.1%. This surge is credited to factors such as food safety compliance, consumer demand for quality assurance, and the globalization of meat supply chains.
Anticipated Growth:
The meat testing market is set for continued expansion, with a projected size of $14.85 billion by 2028, fueled by a 7.9% CAGR. Factors contributing to this growth include the emergence of new pathogens, increasing demand for plant-based alternatives, and a focus on antibiotic residue detection.
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Navigating Key Trends:
Major trends in the forecast period encompass the integration of blockchain for traceability, a focus on multi-parameter analysis, the shift towards rapid testing kits, increased use of mass spectrometry, and the integration of artificial intelligence (AI).
Impact of Food-borne Diseases:
The rise in food-borne diseases is expected to propel the meat testing market. Every year, an estimated 600 million people globally suffer from illness after eating contaminated food, leading to approximately 420,000 fatalities, according to the World Health Organization. The prevalence of such cases underscores the critical role of meat testing in ensuring food safety.
Regional Dynamics:
North America took the lead in the meat testing market in 2023, showcasing significant market presence. The report indicates that Asia-Pacific is expected to emerge as a key growth region in the forecast period.
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Insights Through Segmentation:
The meat testing market report covers essential market segments, including target tests (pathogens, species identification, GMOs, allergens, mycotoxins, heavy metals, veterinary drug residues, other target tests), sample (meat, seafood), form (raw, cooked, processed), and technology (traditional testing, rapid testing, immunoassay, PCR, chromatography, spectroscopy).
For industry players, the meat testing market report serves as an invaluable tool for strategic planning. Companies can leverage insights to adapt to emerging trends, identify growth opportunities, and ensure compliance with evolving regulations. Investors, researchers, and policymakers can also use this report to make informed decisions in the dynamic meat testing market.
Meat Testing Global Market Report 2024 by The Business Research Company provides insights on the meat testing market size, meat testing market segments, meat testing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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