LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s research on the meat speciation testing market, the meat speciation testing market has experienced substantial growth, reaching $2.23 billion in 2024 with a remarkable compound annual growth rate (CAGR) of 9.3%. This expansion is attributed to stringent food safety regulations, heightened consumer concerns about food authenticity, and the globalization of the meat supply chain.
Anticipated Growth:
The meat speciation testing market is poised for continued growth, with a projected size of $3.08 billion by 2028, fueled by an 8.3% CAGR. Factors contributing to this growth include increased focus on allergen management, demand for transparency in the food supply chain, and advancements in testing technologies.
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Key Trends:
Major trends in the forecast period include the increasing demand for halal and kosher certification, technological advancements in mass spectrometry, the emergence of point-of-care testing devices, and collaboration with certification bodies and laboratories.
Impact of Meat Production:
The surge in meat production, projected to remain steady in 2024, is a significant driver for the meat speciation testing market. Meat speciation testing ensures authenticity in the supply chain, identifying animal species and ensuring consumer safety in the meat production process.
Key Regions:
Europe led the meat speciation testing market in 2023, demonstrating strong market presence. Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period, reflecting the global nature of the meat supply chain.
Segmentation:
The meat speciation testing market report covers crucial segments, including technology (PCR, ELISA, other molecular diagnostic tests), form (raw, cooked, processed), and species (cow, swine, chicken, horse, sheep, other species).
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Stakeholder Utilization:
For industry players, this comprehensive meat speciation testing market report serves as a valuable resource 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 speciation testing market.
Meat Speciation Testing Global Market Report 2024 by The Business Research Company provides insights on the meat speciation testing market size, meat speciation testing market segments, meat speciation 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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