Global Food Safety Testing Market: Snapshot
The global food safety testing market has witnessed impressive growth over the last few years due to rising incidence of food contamination there is a growing demand for food safety testing by food manufacturers. Owing to increasing awareness about foodborne diseases and various technologically advanced techniques and equipment deployed for food safety testing, the market for food safety testing has been treading along a healthy growth path over the past few years and the market is expected to continue to exhibit strong growth over the next few years as well. The vast expansion of the global food and beverages industry, coupled with the growth of the food service industry, has also been a key factor driving the growth of the global food safety testing market.
Transparency Market Research estimates that the revenue generated from food safety testing will value at US$658.5 mn by the end of 2017. The market is expected to exhibit a CAGR of 8.9% from 2017 to 2025, rising to a valuation of US$1304.5 mn by the end of 2025.
Food Testing Services for Testing Pathogens to Gain Maximum Traction
In terms of contaminants, the report segments the global food safety testing market into pathogens, genetically modified organisms, chemicals, and toxins. Of these, the segment of pathogens is estimated to account for a massive 42.5% of the global market in 2017. The segment is expected to witness promising growth prospects over the report’s forecast period chiefly owing to value the increasing demand for testing bacteria such as salmonella and E.coli in food products. Increasing incidences of food contamination-related illnesses is the key factor driving this trend.
The segment of the genetically modified organisms segment is also anticipated to exhibit promising growth over the report’s forecast period, charting a CAGR of 8.9% in terms of value.
The vast rise in awareness regarding genetically modified fruits and vegetables among consumers and the stringent regulatory restrictions on GMO-derived foods are the key factors expected to drive growth of this segment over the report’s forecast period.
Market to Continue Thriving in Developed Economies
An exhaustive analysis and geographic assessment of the global food testing safety market has demonstrated that the global food safety testing market is largely dominated by developed economies across regions such as North America and Europe. Collectively, North America and Europe are expected to account for a massive 64.6% of the global market by the end of 2017 and account for a slightly larger share in the global market by the end of the forecast period. Europe is presently the leading contributor of revenue to the global market, and is estimated to hold about 36.3% of the market by the end of 2017.
Rising incidences of food contamination, technologically highly advanced food testing laboratories, and stringent regulations related to food safety in most countries in these regions contribute to the strong positions of North America and Europe in the global food testing safety market. While Europe holds the top spot in the global food safety testing market, the most promising growth rate is expected to be seen in the APAC region over the report’s forecast period. APAC market is expected to exhibit a promising CAGR of 8.6%, attributed chiefly to the growing food trade in this region. Furthermore, companies are focusing on making major investments in R&D activities, which is further driving growth of the food safety testing sector in the region.
Some of the leading companies operating in the global food safety testing market are Bio-Rad Laboratories, Inc., Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited. Laboratory Corp. of America Holdings, AsureQuality Limited, Bureau Veritas SA, and Scientific Analysis Laboratories Limited.
Global Food Safety Products and Food Safety Testing Market: Overview
Food safety is a highly documented effort conducted across the world in many ways. Players in the global food safety products and food safety testing market are constantly required to be on their toes regarding policy changes and implementations, strictly adhering to the regulatory framework set up by known organizations such as the Food and Drug Association.
This research on the global food safety products and food safety testing market is specially designed to estimate and analyze its demand and performance parameters. The report provides in- depth analysis for each segment of the global food safety products and food safety testing market in terms of revenues, manufacturer details, sales, key market trends, and geography based demand charts. Company profiles included in the report provides, company and financial overview, strategies adopted by the companies and their recent developments.
Global Food Safety Products and Food Safety Testing Market: Trends and Opportunities:
The growing cases of foodborne diseases across the world is currently the leading factor pushing for the growth and development of the global food safety products and food safety testing market. The market also benefits massively from the growing rate of awareness among consumers regarding better hygiene standards for food purchase, storage, consumption. The developed of technologies further facilitates for a solid growth rate in the global food safety products and food safety testing market, in terms of creating tests that are easy to conduct and provide a high level of accuracy.
The overall growth of the food industry and the food processing industry, attributed to the globally increasing population and the growing demand for foods, especially convenience foods. The current rate of increase in the global demand for food and beverage diagnostics suggest a consistently high rate of growth for the market segment, owing to a steady incline in global convenience and packaged food demands. However, the global food safety products and food safety testing market is currently being stifled by the greater lack of awareness of consumers and industry counterparts regarding the newer technologies diagnostics available in emerging economies, as well as their relatively disorganized regulatory frameworks regarding food safety.
Global Food Safety Products and Food Safety Testing Market: Region-wise Outlook:
Emerging markets are highly likely to become the key lookouts for players from the global food safety products and food safety testing market over the coming years. Nations such as such as India and China are expected to provide players, both regional as well as the globally prominent, noteworthy opportunities, supplemented by increasing government support. The food processing sectors in these regions are also being imposed with stricter hygiene standards, which when combined with the healthy growth of food trade, and the rising preference for convenience foods, has created a massive range of opportunities in the global food safety products and food safety testing market.
Meanwhile, Europe has been leading the global food safety products and food safety testing market in the recent past, thanks to highly stringent regulatory policies implemented by national governments when it comes to food safety. The region is also the hub for several of the leading players in the market and their development centers, thereby allowing Europe to avail advanced technologies in the market at a faster rate. Driven by rising emphasis on the food quality, the food safety products and food safety testing market in North America has also been expanding to a great extent.
Companies Mentioned in the Research Report:
The leading players in the global food safety products and food safety testing market over recent times, include Biocontrol Systems Incorporated, Thermofischer Scientific, Biomerieux SA, Roka Bioscience, 3M Company, Agilent Technologies Incorporated, Bio-Rad Laboratories Incorporated, Douglas Scientific, IDDEX Laboratories INC, EL DU Pont De Nemours & Co. and Ecolab Incorporated.
Key segments of the Global Food Safety Products and Food Safety Testing Market:
Food Safety Products Market, by Types:
- Disinfection Products
- Diagnostic Products
- Disposable Gloves
- Smart Labels & Tags
- Software Tracking Systems
Food Safety Testing Market, by Contaminants:
- Genetically Modified Organisms (GMOs)
Food Safety Testing Market, by Pathogens:
Food Safety Testing Market, by Food Types:
- Processed Foods
- Meat & Poultry
- Dairy Products
- Fresh & Frozen Fruits & Vegetables
Food Safety Testing Market, by Technology:
- Traditional Methods
- Rapid Methods
Food Safety Rapid Testing Market, by Types:
- Convenience-Based Methods
- Immunoassay-Based Methods
- PCR-Based Methods
- Other Molecular-Based Methods
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments