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The agricultural surfactants market is projected to reach USD 1.88 Billion by 2022, growing at a CAGR of 6.46% from 2017. The growth of the agricultural surfactants market is driven by factors such as the growing demand for agrochemicals and the adoption of precision farming & protected agriculture.

Key players in the agricultural surfactants market include DowDuPont (US), BASF (Germany), AkzoNobel (Netherlands), Evonik (Germany), and Solvay (Belgium). Huntsman Corporation (US), Nufarm (Australia), Clariant (Switzerland), Helena Chemical Company (US), Croda International (UK), Stepan Company (US), and Wilbur-Ellis Company (US) are a few other key market players who also hold a significant share of the agricultural surfactants market.

DowDuPont produces and sells a wide range of products through its business units that include agriculture, materials science, and specialty products, globally. The company operates through eight segments-agriculture, performance materials & coatings, industrial intermediate & infrastructure, packaging & specialty plastics, electronics & imaging, nutrition & biosciences, transportation & advanced polymers, and safety & construction. The agriculture segment has a diverse worldwide network that markets and distributes the companys brands to customers, globally.

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Solvay is a chemical and advanced materials company and is involved in delivering innovative sustainable products and solutions. The company offers its products & services to diversified markets through segments such as agro, feed & food; automotive & aerospace; building & construction; consumer goods & healthcare; electrical & electronics; resources & environment; and industrial applications. It offers surfactants through its agro, feed & food segment. The company has offices across 58 countries at 139 locations, along with 21 major research and innovation centers across North America, Europe, Asia Pacific, and South America; this enables it to have a global market presence. In July 2015, Solvay opened an alkoxylation plant in Singapore, the largest in Asia. This expansion helped to cater to the growing demand for specialty surfactants in this region

AkzoNobel is a major producer and distributor of specialty chemicals, paints, and coatings. The company operates its business through three segments-decorative paints, performance coatings, and specialty chemicals. The company offers surfactants through its specialty chemicals segment for oil & gas, metals & mining, pharmaceutical, and agrochemical industries. AkzoNobel has a major presence in North America, Europe, South America, and the Asia Pacific. It has subsidiaries in more than 80 countries and supplies its products to a large number of business partners. In May 2017, AkzoNobel opened a new monochloroacetic acid (MCA) plant in Gujarat, India. This new plant would have the capacity of 35.27 KT/year (32,000 tonnes/year). The demand for MCA is growing in Asian countries, and it finds applications in agrochemicals, adhesives, pharmaceuticals, thermo-stabilizers, surfactants, and cosmetics.

The global industrial hemp market size is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a compound annual growth rate (CAGR) of 34.0% during the forecast period. Rising awareness among the consumers about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp across different countries, and growing application scope of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverages, personal care products, construction & material, furniture, and paper is driving the market for industrial hemp.

Key industrial hemp players include Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany). Agreements, joint ventures, and partnerships were the dominant strategies adopted by major players, followed by expansion. These strategies have helped them to increase their presence in different regions.

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The CBD hemp oil segment is projected to be the fastest-growing segment in the industrial hemp market during the forecast period.

The industrial hemp market is segmented, based on type, into hemp fiber, hemp seed, hemp seed oil, and CBD hemp oil. The CBD hemp oil segment is projected to be the fastest-growing segment in the industrial hemp market during the forecast period. This is attributed to the growing usage of CBD hemp oil in various applications such as personal care, health supplements, and food & beverages products. Furthermore, the numerous health benefits of CBD hemp oil make it useful to treat and prevent conditions like anxiety, depression, pain, and acne are also expected to drive the growth.

The food segment is projected to account for the largest market share in the industrial hemp market during the forecast period.

The industrial hemp market is segmented, based on application, into food, beverages, textiles, personal care products, pharmaceuticals, and others. The food segment is projected to be a leading segment in the industrial hemp market. This is attributed to the usage of hemp in food products, as these are rich in essential fatty acids (linoleic and linolenic); vitamin E; as well as minerals such as phosphorus, potassium, sodium, magnesium, calcium, zinc, iron, and protein. Hemp is mostly consumed in the form of hemp seed, raw or roasted. It is added to salads, smoothies, yogurt, and cereals. The growing consumption of plant-based protein, owing to the popularity of veganism, globally, is expected to increase the demand for hemp-based processed food products such as bars, flour, snacks, and cheese.

The European region is projected to be the fastest-growing region in the industrial hemp market during the forecast period.

The European region is projected to be the fastest-growing region in the industrial hemp market during the forecast period owing to growth in consumption of hemp seeds as food as well as their wide application in other food products such as smoothies, yogurt, cereals, and bars especially in countries such as Germany and the Netherlands. Furthermore, increasing legalization of industrial hemp in the European region in the coming years is expected to boost the industrial hemp market.

The meat substitutes market is estimated to be valued at USD 1.6 billion in 2019 and is projected to reach USD 3.5 billion by 2025, recording a CAGR of 12.0% during the forecast period. Growth of the meat substitutes market is driven by factors, such as the changing preferences of people for vegan food products as well as increasing obesity.

The key players in the meat substitutes market include Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry (Ireland), Ingredion (US), The Nisshin OilliO Group,Ltd (Japan), Axiom Foods (US), Sotexpro S.A (France), Wilmar International Limited (Singapore), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), Sonic Biochem Ltd. (India),  The Top Health Ingredients (Canada), The Emsland Group (Germany), and Cargill (US).

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The tofu product segment is estimated to dominate the meat substitutes market due to the increasing acceptance of them among plant-based meat manufacturers

Tofu has been traditionally considered a meat substitute in many countries. This is due to its low cost and easy availability. Tofu also resembles the taste of meat and helps to replace pork, chicken, and beef products. Moreover, it also has a high nutritious value, the rising awareness about which is also propelling the market. In a few clinical studies, tofu is proved to provide protection against cancer, heart diseases, and also helps in lowering the levels of bad cholesterol or low-density lipoprotein. Thus, these factors are dominating the tofu segment globally.

The demand for pea protein, as a source, to remain high during the forecast period

The market for pea proteins as a source of meat substitutes projected to grow at the highest CAGR during the forecast period; the projected growth is owing to the high nutritious value that pea protein. Furthermore, the rise in disposable income among the increasing middle-class population of Europe is facilitating more expenditure on the premium, highly-priced, and pant-based meat products. Hence, the growing demand for vegan products in the region is expected to fuel the growth of pea protein meat substitutes.

The textured segment is estimated to dominate the meat substitutes market due to increasing acceptance of dry soy chunks for burger patties

The textured segment, by type, is projected to be the fastest-growing segment and is projected to account for a maximum market share during the forecast period. This is due to the low prices associated with textured protein. Also, they are easily available and require less refining compared to isolates and concentrates. As a result, plant-based meat manufacturers can focus on introducing products that can be accepted by consumers. These factors have propelled the growth of the segment in the market.

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The solid segment is estimated to dominate the meat substitutes market due to the increasing consumption by food manufacturers

The solid segment, by form, is projected to dominate the global meat substitutes market during the forecast period. This is due to the high consumption of solid meat substitutes in powder and chunks forms. Solid meat substitutes also help to increase the shelf-life of products, which help food manufacturers to buy solid meat substitutes at a wholesale level, which reduces the cost of raw materials. These factors have been driving the growth of this segment for the past few years.

With the increasing demand for plant-based meat, North America is estimated to dominate the meat substitutes market in 2019

The changing lifestyle and increasing buying power of consumers have increased the demand for meat substitutes. The growth of the region is owing to the increasing sale of plant-based meat products in North America and the rising acceptance of convenience foods among consumers due to their hectic lifestyles. Also, the inclination of the millennial population toward ready-to-eat foods drives the North American processed food market, which, in turn, is driving the demand for global meat substitutes.

The global taste modulators market was valued at USD 994.7 million in 2017 and is projected to reach USD 1,758.7 million by 2023, at a CAGR of 10.2% during the forecast period. The key players in the taste modulators market include DSM (Netherlands), Kerry (Ireland), Ingredion (US), Givaudan (Switzerland), Firmenich (Switzerland), International Flavors and Fragrances (US), Symrise (Germany), Sensient Technologies (US), The Flavor Factory (US), Carmi Flavor & Fragrance (US), Flavorchem Corporation (US), and Senomyx (California). These key players focused on various business strategies such as new product launches, agreements, and expansions to increase their market presence. DSM and Kerry are the top two companies in the taste modulators market based on overall revenues, product offerings, and strategic activities related to taste modulators.

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Beverages are broadly classified into two categories, namely, alcoholic and non-alcoholic beverages. The non-alcoholic beverages segment was the largest; it includes both carbonated drinks and non-carbonated beverages such as juices, energy drinks, sports drinks, and fortified drinks. Taste modulators are used to alter the taste and support the reduction of calories in drinks (being used in conjunction with sugar substitutes) to meet consumer demand for healthy beverage products.

The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China and India have witnessed major growth in the taste modulators market, acquiring significant shares in the region. The region witnesses a high demand for taste modulators due to the rise in meat consumption, population growth, and increase in awareness about healthy & nutritional food products.

DSM is one of the major companies involved in the manufacturing of nutritional & pharmaceutical ingredients, biomedical materials, thermoplastics, resins, and industrial chemicals. The company has its presence in more than 60 countries and manufacturing facilities in more than 40 countries. It is consistently focused on product innovation, skillful marketing, and product promotion with R&D centers in domestic as well as international markets in China, India, the US, Canada, Australia, the UK, and Germany. The company’s subsidiaries include Fortitech, Inc. (US), Microbia, Inc. (US), DSM Food Specialties B.V. (Netherlands), Aland (Jiangsu) Nutraceutical Co., Ltd. (China), DSM Nutritional Products AG (Switzerland), DSM Dyneema LLC (US), DSM India Private Limited (India), and Ocean Nutrition Canada (Canada). The company also focuses on new product launch as a strategy; in November 2017, the company launched ModuMax, a taste modulator which is natural and allergen-free. Consumers can use it without compromising on the actual taste of the food product.

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Kerry Group is involved in the marketing and production of consumer food products. It operates through two business segments, namely, taste & nutrition and consumer foods. Globally, the company has its presence in the US, the UK, Australia, Malaysia, Singapore, Germany, and New Zealand. It has 130 manufacturing locations and operations in 27 countries across the globe. The subsidiaries of the company include Kerry Ingredients Australia Pty. Ltd., Kerry Ingredients Malaysia, Kerry Ingredients North America, Kerry Agribusiness Ireland, Dera Holding NV (Belgium), Kerry Ingredients France S.A.S., Kerry Foods GmbH (Germany), Cremo Ingredients A/S (Denmark), Kerry Ingredients Italia S.p.A., Kerry Polska Sp. z.o.o. (Poland), and Kerry Ingredients UK. The company also focuses on new product launch as a strategy; in October 2017, it launched a new taste modulator to cut sugar content by almost one-third. This launch would help the company to expand its product line to meet the consumer demand for low-calorie food products.

The global food diagnostics market size is projected to grow from USD 12.1 billion in 2018 to USD 17.1 billion by 2023, at a CAGR of 7.1% during the forecast period. Increase in the outbreak of foodborne illnesses, globalization in food trade, adoption of advanced technologies to maintain food quality and safety, and a rise in consumer awareness about food safety are factors projected to drive the market for food diagnostics.

The major food diagnostics vendors include 3M Company (US), Merck KGAA (Germany), Thermo Fisher Scientific Inc. (US), Biomerieux SA (France), Danaher Corporation (US), Bio-Rad Laboratories Inc. (US), Neogen Corporation (US), Biorex Food Diagnostics (UK), Randox Food Diagnostics (UK), FOSS (Denmark), Hygiena LLC (US), Agilent Technologies Inc. (US), Qiagen (Germany), GEN-IAL GmbH (Denmark), and Envirlogix Inc. (US). These players have adopted various growth strategies, such as expansions & investments, new service launches, acquisitions, and agreements & joint ventures, to further expand their presence in the global food diagnostics market. Acquisitions and new product launches were the most dominating strategies adopted by major players. This has further helped them strengthen their position and expand client base in the food diagnostics market.

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The 3M Company is a diversified global manufacturer, technology innovator, and marketer of a wide variety of products and services. The company primarily offers personal hygiene products, automotive components, safety products, medical & surgical supplies, electronics, and consumable products. It has five different business segments-industrial, safety and graphics, health care, electronics and energy, and consumer. It offers food diagnostic products through its healthcare segment.

The company sells its products through numerous distribution channels, including wholesalers, retailers, distributors, and dealers in various countries around the world. It operates across 70 countries, worldwide, and has 80 manufacturing facilities in 29 states in the US. The 3M company introduced a new molecular method for campylobacter with 3M campylobacter enrichment broth, providing more efficient testing for a key pathogen associated with poultry production. This product launch is further projected to consolidate the market position of 3M, by aiding its venture into a niche product category.

Merck KGaA is a science and technology company that operates through three business segments—healthcare, life science, and performance material. Merck holds the global rights to the “Merck” name and brand. The only exceptions are the US and Canada, where the business sectors operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials. It offers food diagnostic systems through the life science segment. The company offers food testing services under it’s the food & feed testing division. Merck acquired BioControl Systems, Inc. (US), a global provider of food safety diagnostics systems. The acquisition helped the company to strengthen its life science segment by allowing it to reinforce its food safety market, with a complete workflow solution for food pathogen testing.

The global feed acidulants market size is projected to grow from USD 2.7 billion in 2018 to USD 3.5 billion by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by the ban on antibiotics in the European Union and growth in government funding to promote the feed industry.

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Key Players:

• BASF SE (Germany)
• Yara International ASA (Norway)
• Kemin Industries Inc. (US)
• Kemira OYJ (Finland)
• Biomin Holding GmbH (Austria)
• Impextraco NV (Belgium)
• Pancosma (Switzerland)
• Nutrex NV (Belgium)

BASF SE continues to focus on maintaining its position in the global animal nutrition market through geographic expansion in high-growth markets. The company focuses on the manufacturing of performance products along with an R&D program to develop new solutions for the feed acidulants market for different types of acids such as propionic acid, formic acid, and fumaric acid. It focuses on expanding its product portfolio through expansions and collaborations that will help fulfill the demand from the feed industry in the coming years. For instance, in 2018, BASF and arc-net entered into a collaboration to support the animal production value chain in meeting the demand for feed products. BASF’s calculation tool, AgBalance Livestock, considers the life cycle impact of all inputs and outputs of animal protein production—from feedstuffs and feed production, to animal farming and manure management, to slaughter. Earlier in 2018, BASF launched a low-corrosive organic acid, Lupro-Cid NA in Japan. Lupro-Cid NA enables high-quality silage preparation under challenging conditions. Thus, it would help dairy farmers protect feed quality and improve safety during silage making.

Furthermore, Kemin Industries is engaged in developing products sourced from natural raw materials, owing to consumer preferences. This is due to the fact that there is an increasing demand for naturally sourced ingredients over synthetic ones, owing to the added nutritional benefits that they offer. The key strategy adopted by Kemin is expansion. It adopts new and advanced technologies to diversify its product portfolio. In 2016, the company focused on expanding its manufacturing facilities in Russia and Belgium to capitalize on the strong demand for feed ingredients. The company has been accredited with various certifications from authorities such as Food Safety System Certification 22000 and Global Food Safety Initiative. The company focuses on using the best technical expertise in the industry to serve its customers and manufacture its products. It is also focusing on R&D, owing to which it is increasing its investments in R&D.

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Biomin Holding GmbH is a manufacturer of feed additives & premixes and provides services that help in enhancing livestock performance in a cost-effective manner. The company is one of the largest players in the feed nutrition sector, especially feed acidulants. Biomin is focused on expanding its business and product portfolio by launching new products. Expansion is one of the top strategies for Biomin. The company opened a new plant in Panama, with its headquarters in Austria, which allows the company to meet the growing customer demand.

Geographical Prominence:

The market in South America is estimated to grow at the highest CAGR in the market during the forecast period. This growth is attributable to the development of the animal husbandry sector in the region that has promoted an increase in the consumption of feed additives such as acidulants; rising income levels in emerging economies such as Brazil and Argentina, which is supporting consumer inclination to better quality meat and other livestock products; rising demand for meat from this region.

The hydrocolloids market is estimated to be valued at USD 8.4 billion in 2018 and is projected to reach USD 11.4 billion by 2023, at a CAGR of 5.3% during the forecast period. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increasing demand for convenience foods in regions such as the Asia Pacific, South America, and the Middle East & African. Apart from this, manufacturers are engaged in R&D to offer high-quality hydrocolloids due to its multi-functionality in the food industry.

By source, the botanical segment is projected to be one of the fastest growing segments for the hydrocolloids market due to the increased demand for natural products and ingredients. Some of the popular hydrocolloids of botanical origin used by manufacturers of the food & beverage industry include gum arabic, gum tragacanth, gum karaya, and gum ghatti.

Key Players:

• DowDupont (US)
• Ingredion (US)
• Cargill (US)
• Kerry (Ireland)
• Archer Daniels Midland Company (US)
• Palsgaard (Denmark)
• Darling Ingredients (US)
• CP Kelco (US)

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Market Drivers:

• Rise in Consumption of Premium Food & Beverage Products
• Multi-Functionality of Hydrocolloids Leads to Their Wide Range of Applications
• Increase in Health-Consciousness Among Consumers Drives the Natural Hydrocolloids Market          

Market Opportunities:

• The Emerging Markets Illustrate Great Potential for Hydrocolloids
• Increase in Investments in Research & Development

By type, guar gum is projected to be the fastest growing segment in the hydrocolloids market. Derived from the guar plant, it finds applications in the food, pharmaceutical, and cosmetics industries. In the food industry, it is used as a thickening and binding agent. It is used in a wide variety of food products such as ice cream, baked goods, cheese, soups, gravies, noodles, and meat. In addition, it is used in cosmetics products such as lotions, creams, and shampoos. In the pharmaceutical industry, it is used as a binder in tablets. Expansion of the food processing industry in the developing countries is projected to boost the sales of guar gum in the coming years.

By function, the stabilizers segment is considered to be one of the fastest-growing segment in the hydrocolloids market. Hydrocolloids used as stabilizers include locust bean gum, guar gum, carboxymethyl cellulose (CMC), xanthan gum, alginate, and carrageenan. The increasing demand for convenience foods in emerging countries is projected to drive the demand for hydrocolloids in the coming years.

Geographical Prominence:

North America is the fastest-growing market for hydrocolloids and is projected to record the highest CAGR during the forecast period. The North American market is completely driven by the US, which accounted for nearly 84.0% of the market share in 2017. The US has a large market for bakery, confectionery, convenience food, and packaged food products; hence, it constitutes a major share in the market. Consumers in the US are calorie-conscious, due to which low-calorie and low-fat foods are popular in the country. The increasing prevalence of obesity and cardiac diseases have led to an increasing demand for natural and low-calorie food products among consumers. Food manufacturers are therefore concentrating on the application of natural hydrocolloids and their functions as fat replacers.

The global food & agriculture technology and products market size is projected to grow from USD 494.9 billion in 2018 to USD 729.5 billion by 2023, at a CAGR of 8.1% during the forecast period. The increase in demand and consumption of livestock-based products and seafood, rise in consumer awareness about food safety, governments’ support to adopt modern agricultural techniques, and demand for agricultural production due to the increasing population are some of the major drivers for the growth of the food & agriculture technology and products market.

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The food & agriculture technology and products vendors include ADM (US), Evonik (Germany), DSM (Netherlands), United Technologies (US), Deere & Company (US), Daikin (Japan), Signify Holdings (Netherlands), SGS SA (Switzerland), Zoetis (UK), GEA (Germany), Pentair (UK), Intertek (UK), Genus (UK), Neogen (US), AKVA Group (Norway), Eurofins (Luxembourg), Canopy Growth Corporation (Canada), Americold Logistics (US), Groupe Grimaud (France), and MosaMeat (Netherlands). Acquisitions were the most dominating strategy adopted by major players, followed by new product launches. This has helped them to increase their presence in different regions and expand their product portfolio.

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In the food & agriculture technology and products market, the animal industry has been segmented, on the basis of subindustry, into animal health, aquaculture products, and animal genetics. The animal health segment is projected to account for the largest share of the market by 2023. This is attributed to the high global demand from farmers for animal health products to improve the performance and prevent diseases in their livestock from obtaining quality products. Further, the rising awareness about the importance of animal health for sustainable output and increasing consumption of animal-derived protein are also projected to drive the market.

Europe is estimated to account for the largest share of the market in 2018. It is highly professional and technologically advanced for smart agriculture. This region has one of the strongest economies and widespread industries, which create high capital investment capabilities. In Europe, large farm owners had started adopting smart agriculture technologies to increase their farm profits, while small farm owners were hesitant due to less investment capacity. Farmers are already using smart agriculture technologies for enhanced yield. These factors drive the segment in the European region.

Deere & Company is engaged in the development, manufacture, and distribution of its diverse range of agricultural and other machinery. The company operates primarily through three business segments – agricultural & turf, construction & forestry, and financial services. It offers tractors, pre-harvesting equipment, planting equipment, and precision farming equipment and technology under the agricultural & turf segment.  The construction and forestry segment primarily manufactures and distributes a broad range of machines and service parts used in construction, earthmoving, road building, material handling, and timber harvesting. The financial services segment primarily finances sales and leases by John Deere dealers of new and used agriculture & turf equipment and construction & forestry equipment. In September 2018, Deere & Company acquired PLA (Argentina), to enhance its product portfolio of sprayers, planters, and specialty products for agriculture.

DSM is a global science-based company operating in the health, nutrition, and materials business. The company operates through five segments—nutrition, materials, innovation center, corporate activities, and partnerships. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition and food specialty segment of the company caters to different end-use application industries, such as food, feed, nutraceutical, infant nutrition, personal care, and pharmaceutical. The company offers nutritional supplements such as vitamins, carotenoids, nutritional lipids, omega acids, premixes, and astaxanthin for both human and animal nutrition. These products are developed under its DSM Nutritional Products business. The company offers its feed additives through its animal nutrition & health division, which falls under the DSM Nutrition Products business. It offers a wide range of products that include carotenoids, eubiotics, vitamins, and feed enzymes for various animal species, such as aquaculture, poultry, ruminants, swine, and companion animals. DSM operates in more than 40 countries with over 100 commercial production facilities.

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The key players identified have a strong presence in the top 10 trends in food safety testing and technologies industry including SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group plc (U.K.), Eurofins Scientific SE (Luxembourg), ALS Limited (Australia), Thermo Fisher Scientific Inc. (U.S.), Mérieux NutriSciences Corporation (U.S.), AsureQuality Ltd. (New Zealand), Microbac Laboratories Inc (U.S.), and Romer Labs Diagnostic GmbH (Austria).

The key market players adopted various growth strategies such as expansions, acquisitions, agreements, in order to cater to the increasing demand for food safety and testing technologies. The companies increased their research and development expenditure to expand their manufacturing capacities and offer diversified food safety testing technologies.

The core strengths of the key players that have driven the top 10 trends in food safety testing and technologies industry are strategic expansions and acquisitions, in order to enhance their market presence. Market players such as SGS S.A. (Switzerland), Bureau Veritas S.A. (France), and Intertek Group plc (U.K.) successfully tapped the potential markets through expansions, acquisitions, and new service launches. Moreover, these companies also focused on offering a diverse range of testing services such as food pathogen testing, GMO Testing, pesticide residue testing, and others to cater the changing requirements of the food safety testing and technologies industry.

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SGS S.A. (Switzerland) has been one of the major players in the global food safety testing and technologies industry; it adopted strategies such as acquisitions, expansions, partnerships, and new technology & service launches in the recent years. The company acquired Laboratoire LCA (Morocco), to expand its business in the Moroccan agriculture market, it also expanded its food testing laboratory in South Korea, to offer food chemical testing, food contaminant testing, and microbiological and DNA testing.

Bureau Veritas S.A. (France) adopted acquisitions as its strategy to expand its presence in the food safety testing and technologies industry. Bureau Veritas S.A. is a global leader in providing testing, inspection, and certification services to meet the growing challenges of quality, safety, environmental protection, and social responsibility. The company offers innovative solutions for regulations & standards, reducing risks, improving performance, and promoting sustainable development.

Intertek Group plc (U.K.) adopted strategies such as expansions and acquisitions in order to efficiently expand its geographic presence in recent years. Intertek set up its AgriTech laboratory at Hyderabad (India) to perform DNA-based testing of various agricultural products. The company introduced its advanced ScanBi DNA testing technology in India with this expansion. The company also acquired the Italian company Food International Trust (FIT-Italia), which provided a wide range of assurance, testing, and certification services.

The food safety testing and technologies market encompasses a variety of testing technologies. The markets covered under food safety testing include food safety testing market, GM food safety testing market, food pathogen testing market, meat speciation testing market, food authenticity testing market, pesticide residue testing market, mycotoxin testing market, and food allergen testing market. The markets covered under water safety testing & technologies include water testing and analysis and bottled water testing.

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The food safety testing market is estimated to be valued at USD 12.01 billion in 2016. The various factors that drive the food safety testing market include worldwide increase in foodborne illness outbreaks, implementation of stringent food safety regulations by the government, and availability of advanced technologies capable of rapid testing. Globalization of food supply that has resulted in an increased export and import of food products and agricultural commodities worldwide is another driver influencing this market.