A recent
report published by Infinium Global Research on the food safety testing market
provides an in-depth analysis of segments and sub-segments in the global as well
as regional food safety testing market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional food
safety testing market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
food safety testing market. According to the report, the global food safety
testing market is projected to grow at a CAGR of 8.06% over the forecast period
of 2022-2028.
The revenue
generated by the food safety testing market was approximately USD 19 billion in
2022 and is expected to reach approximately USD 30 billion in 2028. The
presence of contaminants or chemicals in canned foods, farm fresh foods frozen
foods, and processed foods can lead to food poisoning or other adverse effects
on human health. The harmful materials or pathogens could enter the value chain
at any point from source to final delivery to the customers. Therefore, it is
important to conduct various tests to ascertain food safety during the
manufacturing phase and before the food products reach the consumers. Pathogen
testing has a major share in the food safety testing market due to greater
demand for food borne contamination testing.
The increase
in food-borne illnesses due to contaminants in packaged food and beverages is
expected to fuel the growth of the global food safety testing market. Moreover,
ever-increasing demand from the food industry for rapid testing technologies
drives the market. The increase in consumption of convenience foods and
beverages, consumer awareness about food safety, and stringent regulations
imposed by various governments are major factors in the growth of the market.
In addition, the implementation of various regulations on food safety,
particularly in developed economies, drives the growth of the global food
safety testing market. Recycling of animal by-products, sale of goods past
their use-by date, the inclusion of harmful ingredients, and unsafe food handling
processes are some of the major food fraud activities. The consumption of
contaminated food, including toxic chemicals and radioactive materials, results
in foodborne illness, which may even lead to death. The implementation of
stringent regulations by many leading food safety organizations, such as the
Food Standards Agency, European Food Safety Authority, Food Safety and
Standards Authority of India, and Canadian Food Inspection Agency, to prevent
ill health of consumers and food fraud is expected to drive the growth of the
global food safety testing market. However, Complexity in testing techniques
hampers the market. On the other hand, Technological advancements in the
testing industry are providing opportunities.
The COVID-19
pandemic is expected to considerably impact the food safety testing market since it has
highlighted the significance of safe, healthy, and nutritive eating. The
strongly affected dimensions of food systems during the Covid-19 pandemic are
food security, food safety, and food sustainability. During the pandemic,
people ordered meals from restaurants by using e-commerce websites and apps
rather than personally visiting the restaurants. As a result, the restaurants
who are established drive-thru and pick-up operations were generating more
profit than those competitors without. Moreover, during the pandemic,
consumers’ preferences for safety and quality of food were raised, which has
further propelled the manufacturers to assess the safety parameters of their
food products to sustain their product values in the market.
The North American region holds the largest share in the global food safety testing
market. Stringent regulations for food safety, expansion of GMO foods, and the
increasing contaminant illnesses are major factors contributing to the growth of
the market. Demand in UK and Germany drives the market in the European region.
Contaminant and food borne diseases in the UK drive the food industry to go for
food safety testing technologies to aim for better quality. The Asia- Pacific
region is the fastest emerging market due to the factors such as increasing
population, increasing demand for food products, and increasing stringent
regulations for food safety. China and India drive the Asia-Pacific region as
awareness among consumers regarding the need for healthier foods have increased
in these countries over the past few years. Moreover, the regulations related
to food safety led to improvement in the hygiene standards in the food processing
industry and it pushed the industry to adopt advanced food safety testing techniques.
Japan is expected to benefit from patents and innovations in the food safety
testing obtained by its major players in the market.
The report
on the global food safety testing market covers segments such as applications, and
testing types. On the basis of applications, the sub-markets include dairy,
fruits and vegetables, meat, poultry, processed foods, and others. On the basis
of testing types, the sub-markets include adulteration testing, allergen
testing, GMO testing, pathogen testing, nonpathogen testing, nutritional
labeling, pesticide testing, toxin testing, and others.
The report
provides profiles of the companies in the market such as ALS Limited, Bureau
Veritas S.A, Charles River Laboratories International Inc, Eurofins Scientific,
Genetic ID NA Inc, Genon Laboratories Ltd, International Laboratory Services,
Intertek Group Plc, Silliker Inc, and TUV Rheinland Group.
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the food safety testing market. Moreover, the
study highlights current market trends and provides forecasts for 2022-2028. We
also have highlighted future trends in the market that will affect the demand
during the forecast period. Moreover, the competitive analysis given in each
regional market brings an insight into the market share of the leading players.