The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
In recent years, constantly appeared food safety events have forced the Chinese government to implement stricter food regulations. The Food Safety Law of 2015 Edition had come into run from 1st October, 2015, which newly included internet food sale, food additives, individual workshops and health products.
There are 1293.3 thousand batches in 2016 food safety spot test plan launched by China Food and Drug Administration (CFDA). Calculating on a basis population of 1368 million in China, the coverage of 2016 spot test plan is only 0.95 batch per thousand people. Nevertheless, the coverage of spot test in Hong Kong is 9 batch per thousand people. Too low spot test ratio contains huge increasing potential. Currently there are several regions in China have drawn up plans to catch up with international spot test standard.
In 2013, the Chinese government integrated four departments’ functions and built up CFDA, but it lacks of relative testing ability and usually organizes public bidding for testing services. Labs primarily belongs to State Administration for Industry & Commerce and CFDA are different administrative departments, thus there are weak internal benefit links between them. Third-party private testing companies have fair competition rights during the procedure of public bidding.
Currently state-owned testing organizations accounts for over 55% market share in China food safety testing markets relies on their monopolistic advantages. Depending on strong technic and brand cognitive, foreign testing companies accounts for about 35% of China food safety testing market. Well-known foreign testing companies even occupies over 80% of China third-party food safety testing market. It is forecasted that China food safety testing market will reach USD 791.5 million in 2020 with a CAGR of 9.9% from 2016 to 2020.