Arsenic testing to dominate the Heavy Metal Testing Market
The heavy metal testing market is estimated to be valued at USD 2.53 Billion in 2017 and is projected to reach USD 3.65 Billion by 2022, at a CAGR of 7.6% from 2017.
The market is driven by factors such as growing incidences of heavy metal contamination in meat & meat products due to contaminated animal feed, active involvement of government & regulatory bodies to monitor heavy metal levels in food & environment, and globalization of food trade. The need for heavy metal testing in animal feed and the launch of cost-effective rapid technologies for faster and reliable test results provides new growth opportunities for market players.
The requirement for heavy metal testing has grown in the region in recent years, owing to an increase in the export of food products to the European region and consumer awareness in the Asia Pacific region regarding the safety of food products. The growth in this region is driven by China, India, and Japan. Manufacturers in many Asia Pacific countries have accepted and implemented good manufacturing practices (GMP), ISO 9000, and HACCP. This in turn has driven the growth of the heavy metal testing market. China is a potential market for heavy metal testing due to the high level contamination by heavy metals in soil and water. Food safety procedure compliance in Europe (a major importer) is severe, and in order to continue food trade, Chinese food producers have to comply with the food standards and regulations.
Leading companies are SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), TÃœV SÃœD (Germany), and ALS Limited (Australia).
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