The market research reports published by Strategic Consulting Inc. (SCI) have become widely accepted by leading diagnostic manufacturers and investors as highly credible industry analyses.
Food Micro-2008 to 2013 includes a thorough review of the global market for microbiology testing generated by the Food Processing Industry along with detailed examinations into its four main sub-sectors-meat, dairy, fruits/vegetables, and processed foods.
The Food Sector represents the largest market segment within the Industrial Microbiology Market and represents almost 50% of the total market. The Food Sector is more than double the size of any of the other industrial segments including the Pharmaceutical, Personal Care Products, Beverage, Environmental, and the Industrial Process Sectors.
Since 1998, the market value for food microbiology testing has grown significantly, and has had an annual growth rate of 8.7%. Based on SCI research, the food microbiology testing market is expected to grow to 969.2 million tests in 2013 with a market value approaching $2.4 billion, which represents a projected annual growth rate of 5.6% in testing volume.
Food Micro-2008 to 2013 derives its information from a broad cross-section of sources internationally, including interviews with hundreds of quality and safety managers at the processing plants in each of the 4 Food sub-sectors, regulatory officials, industry associations and diagnostic companies.
This factual database is the foundation for the Report and enables extensive analysis of testing methods. This information is then organized by organism, by food sub-sector, and by major geographical region. The current information is then compared with previous reports from SCI to develop a historical perspective. Clearly, over the past decade there has been a heightened concern regarding food safety. This Report also reviews the macro market changes underway that are impacting testing requirements and competitive practices. Incorporating these factors,
Food Micro-2008 to 2013 then provides detailed market projections through to 2013.
One of the findings from the Report is that the growth in the worldwide food micro market is being driven by these key factors:
These trends, in addition to driving the increase in testing, help to accelerate the conversion of traditional microbiological testing methods to rapid methods. It´s no surprise that, despite the higher cost per test, these newer methods are being used more frequently because they provide faster results and/or ease-of-use benefits compared to traditional testing.
Nonetheless, in 2008 traditional methods still account for approximately 58% of the microbiology tests performed worldwide in the food market. The rapid micro counterparts (including convenience-based, immunoassay-based, and molecular-based methods) account for 42%, amounting to 307 million tests. Importantly though, over the past 3 years, food micro tests utilizing rapid methods have increased by 37% and are up from 224 million tests in 2005. During this same 3-year period the growth in total testing increased only 18%. So, the growth rate of rapid methods is more than twice that of the growth in testing.
"By 2013, much will have changed," says Tom Weschler, president of SCI. "Traditional methods will still be the predominant ones used, accounting for 491.2 million tests. However, traditional will represent only 50.7% of all tests conducted, which is approximately an 8% decrease based on the percentage of tests performed."
In fact, all types of rapid methods are projected to make significant gains in usage during the coming five-year period.
Food Micro—2008 to 2013 forecast that when combined, the annual test volume of rapid methods will increase by over 55% from current levels and reach 478.0 million tests in 2013. Weschler says, "The gain in market value for rapid methods will be even more pronounced than the testing volume increases, since the rapid methods have much higher average prices per test than traditional methods."
"With such solid growth prospects, this Food Sector is a market that all diagnostic manufacturers need to understand and, where they are not currently present, possibly enter," says Weschler. The Report contains the vital information required to facilitate the making and justification of such key strategic decisions.
Food Micro-2008 to 2013 is over 220 pages in length and is presented in sixteen sections. Over 250 data tables, charts, and exhibits are clearly displayed and provide extensive insights into this market. In addition to reviewing testing practices by sector, the Report analyzes testing by type of organism; compares the frequency of use of conventional, convenience, immunoassay and molecular-based methodologies; and examines where samples are collected and tests are performed. There are also detailed profiles of key diagnostic manufacturers that compete in this market.
