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Meat Speciation Testing Market Analysis With Opportunity Segments For 2024-2033
The Business Research Company's Meat Speciation Testing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 19, 2024 /EINPresswire.com/ -- The meat speciation testing market has experienced robust growth in recent years, expanding from $2.04 billion in 2023 to $2.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to stringent food safety regulations, a rise in consumer concerns about food authenticity, globalization of the meat supply chain, incidents of food fraud and mislabeling, and industry commitment to quality assurance.
Strong Future Growth Anticipated
The meat speciation testing market is projected to continue its strong growth, reaching $3.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increased focus on allergen management, demand for transparency in the food supply chain, emergence of plant-based and alternative proteins, global trade of meat products, and advancements in testing technologies.
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Growth Driver Of The Meat Speciation Testing Market
The increase in meat production is expected to propel the meat speciation testing market going forward. Meat production encompasses raising, slaughtering, and processing animals for human consumption, posing environmental challenges due to its resource demands and ecological impact. Meat speciation testing verifies meat authenticity, preventing mislabeling or adulteration in the supply chain by identifying animal species present and ensuring consumer safety and regulatory compliance in the meat production process.
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Major Players And Market Trends
Key players in the meat speciation testing market include Eurofins Scientific SE, ALS Limited, VWR International LLC, Neogen Corporation, LGC Science Group Ltd., AB Sciex LLC.
Technological innovation is a key trend in the meat speciation testing market. Major players are focusing on developing novel genomic technologies to maintain their position in the meat speciation testing market.
Segments:
1) By Technology: PCR, ELISA, Other Molecular Diagnostic Tests
2) By Form: Raw, Cooked, Processed
3) By Species: Cow (Bos taurus), Swine (Sus scrofa), Chicken (Gallus gallus), Horse (Equus caballus), Sheep (Ovis aries), Other Species
Geographical Insights: Europe Leading The Market
Europe was the largest region in the meat speciation testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the meat speciation testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Meat Speciation Testing Market Definition
Meat speciation testing refers to the description of the species from which the meat was originally obtained from various species to detect the presence of impurities that can impact food quality.
Meat Speciation Testing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Meat Speciation Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on meat speciation testing market size, meat speciation testing market drivers and trends, meat speciation testing market major players, meat speciation testing competitors' revenues, meat speciation testing market positioning, and meat speciation testing market growth across geographies. The meat speciation testing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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