HOME Research Insight New Service Launches, Strategic Acquisitions, and Organic Expansions were the Core Strengths of the Leading Players of the Food Safety Testing Market



New Service Launches, Strategic Acquisitions, and Organic Expansions were the Core Strengths of the Leading Players of the Food Safety Testing Market


The key players in the food safety testing market include SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas SA (France), ALS Limited (Australia), Mérieux NutriSciences (US), TÜV SÜD (Germany), TÜV Nord Group (Germany), AsureQuality Ltd (New Zealand), Microbac Laboratories, Inc. (US), Genetic ID NA, Inc. (US), and Laboratory Corporation of America Holdings (US).

Key strategies such as new service launches, mergers & acquisitions, expansions, investments, collaborations, partnerships, and agreements were adopted by the prominent players to expand their global presence and increase their share in the market for food safety testing. The leading players are focusing on strengthening their R&D capabilities to offer diversified service portfolios for different sectors of the food & beverage industry, particularly technologies such as rapid technologies, namely, convenience-based, PCR, and immunoassay.

Innovative new service launches, strategic acquisitions, and organic expansions were the core strengths of the leading players of the food safety testing market; these strategies were adopted by the players to increase their market presence. They helped the players diversify their businesses geographically, strengthen their distribution networks, and enhance their service portfolios. Market leaders such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas SA (France), and ALS Limited (Australia) successfully tapped the potential markets through new service launches, expansions, and acquisitions.

SGS SA is one of the leading companies engaged in offering inspection, verification, testing, certification, and quality assurance services. The company operates through nine business segments, namely, consumer & retail services, agriculture, food & life, oil, gas & chemical services, mineral services, industrial services, transportation services, government & institutions services, certification & business enhancement, environment, health & safety services. The company offers its broad range of food safety testing services under its agriculture, food & life segment. The services provided by the company comprises of food microbiology and contaminant testing. The company focuses on offering comprehensive testing services to help their customers in maintenance of food safety and quality by adhering to food safety regulatory norms. It has a wide service portfolio of food safety testing services. The company focuses on the expansion of its business revenue through organic and inorganic growth such as expansions and acquisitions. For instance, in March 2017, SGS SA acquired ILC Micro-Chem Inc. (ILC) (Canada), a laboratory offering microbiology and food chemistry testing services. The company marks its presence globally through a network of more than 1,800 offices and laboratories in regions such as Europe, the Middle East, the Americas, Africa, and Asia Pacific.

Bureau Veritas S.A. is one of the leading global companies involved in providing testing, inspection, and certification services catering to the needs of broad range of industries such as agriculture & food, chemicals & petrochemicals, supply chain transport & infrastructures, aerospace, and electrical & electronics. The company has a robust services portfolio ranging from consulting, auditing, outsourcing, certification, testing & analysis, classification, inspection, quality assurance & quality control, and training. Bureau Veritas is a well-established company, with an annual revenue of more than USD 5 billion in 2016. The company has strong financial & operational capabilities, wherein it can focus on new service launches catering to the changing market demands. The company focuses on inorganic growth strategies such as acquisition, and in line with this strategy, it expanded its presence in the Asia pacific region in April 2016, by acquiring a majority stake in Dairy Technical Services (Australia), a company engaged in offering testing and analytical services for food & beverage industries.

Related Reports:

Food Safety Testing Market by Food Tested (Meat & Poultry, Dairy, Processed Foods, and Fruits & Vegetables), Target Tested (Pathogens, Pesticides, GMOs, and Toxins), Technology (Traditional and Rapid), and Region - Global Forecast to 2022

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