USAA currently offers property and casualty insurance, banking, life insurance, investment and financial planning products and services to over 8 million members. USAA conducts most of their marketing through print advertising, billboards, radio advertising, direct mail, TV commercials, interactive campaigning, email and online marketing. Each competitor offer banking services, mortgages, and loans, and to the same members that would be eligible for USAA.
Overall Financials, Figure Net Revenue by Region, Figure Net Revenue by Business Segment, Figure SWOT Analysis As the global food supply increases, the need to strengthen food safety testing systems across the globe is becoming more important.
The demand for food safety testing is rising because of the changing food habits, mass catering, and globalization of the food supply. In order to capture this current demand for food safety testing solutions, companies across the globe are relentlessly striving to provide safety to the food that they manufacture or supply.
Food safety testing is becoming common and fast with each passing day. The technologies that are being widely used for the testing system include polymerase chain reaction PCR based technique, immunoassay, enzyme-linked immunosorbent assay ELISArapid culture detection, and biosensors, among others.
New tests, such as gluten sensitivities, intolerance, food fraud, rapid pathogen detection, pesticides, and antibiotics, among others, are also being introduced. Food safety testing technologies are witnessing an increase in the usage by the food manufacturers and the laboratories because of their rapid detection feature, in turn lowering the chances of food recalls and thus leading to long shelf life of the products.
Different regional regulations and oversight between countries could result in supply chain uncertainties and will also affect the food safety testing industry.
As food safety testing becomes more accurate, new technologies may detect contamination that older systems might have missed. High growth in the market is being driven by the rising awareness among the consumers about the usage of safe food products along with the need to protect the environment.
Further, the rising concerns over global food security and sustainability have led to extensive investments by the various governments across the globe.
This growth can be attributed to the increasing outbreak of foodborne illness, advancements in the usage of the latest technology for the food safety testing, stringent regulations, and globalization of food supply.
The system manufacturers are the players who offer food safety testing products, such as diagnostic kits, HPLC systems, pathogen and toxin testing products, and general lab equipment and supplies to the testing laboratories of the food production companies or a third-party testing laboratory.
The key service providers operating in the industry are the large food testing laboratories that provide testing services to the food manufacturing companies and the public. This segment comprises significant number of large and medium-sized laboratories spread across all the regions.
The contamination in food takes place due to the presence of pathogens, residues, toxins, GMO, and allergens, among others. The pathogens segment encompasses a broad range of microbiological species, such as E coli, salmonella, listeria, campylobacter, viruses, and others, which include shigella staphylococci, among others.
Moreover, the residues segment is also a broad sector considered during food safety testing as it comprises sub-segments like pesticides and herbicides, heavy metals, veterinary drug residue, and antibiotics, among others.
The trends of the food safety testing market vary across different geographical regions.
North America accounted for the largest market share indue to the increase in outbreaks of foodborne illnesses and stringent regulations pertaining to food safety. North America is considered as the most advanced food safety programs region across the globe.
The food safety testing has been robustly activated in the region. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. The market has the presence of a large number of small-sized to medium-sized food safety testing laboratories.
This has been the most widely adopted strategy by the players in this market. With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market.
For instance, in October Bio rad laboratories Inc.
In November3M launched 3MTM Molecular Detection Assay 2-Cronobacter to further expand its market offerings for the molecular detection system pathogen testing platform.
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Strategic Group Mapping Procedure Step 2: Plot the firms on a two-variable map (graph) using pairs of these differentiating characteristics Step 3: Assign firms that fall in about the same strategy space to the same strategy group Step 4: Draw circle around each strategic group.
making the circles proportional to the size of the group’s respective share of total industry revenue 5.