Global Lipid Testing market for Food & Beverages was valued at US$ 833.4 million in 2016, according to Global Lipid Testing Market for Food & Beverages Report by Technology (Recent and Traditional), by Application (Food & Beverages and Food Ingredients) published by Coherent Market Insights. The lipid testing market for food & beverages is expected to exhibit a CAGR of 4.97% over the forecast period (2017–2025) to reach US$ 1,264 million by 2025.
Major factors propelling growth of the global lipid testing market for food & beverages includes increasing demand for processed food products and stringent government regulations imposed on food safety. Moreover, increasing prevalence of foodborne illness further drives the market as it allows regulatory bodies and companies to undertake food safety initiatives. According to WHO (World Health Organization) estimates of the global foodborne diseases, one out of 10 people suffer from food poisoning and around 420,000 die annually. However, lack of food safety infrastructure and resources in emerging economies such as certain regions of Asia pacific and Africa, which is a key factor restraining the growth of the market currently.
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Key Trends and Analysis of Lipid Testing Market for Food & Beverages:
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Major players in the global lipid testing market for food & beverages include Intertek Group Plc., Microbac Laboratories Inc., Eurofins Scientific SE, Campbell Brothers Limited, General Mills Inc., TUV Nord Group, Bureau Veritas S.A., Ltd. and AsureQuality Limited among others.
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