The global food safety testing market size was valued at $13,144 million in 2017, and is estimated to reach $23,204 million by 2025, registering a CAGR of 7.3% from 2018 to 2025.
Food safety testing refers to the inspection of food products for disease-causing organisms, chemicals, and other hazardous materials. It is generally targeted at three primary food contaminants namely, pathogens, chemicals, and genetically modified organisms (GMOs).
Implementation of various regulations on food safety, particularly in the 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, 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 further lead to death. The implementation of stringent regulations by many leading food safety organizations, such as 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 industry.
In addition, rise in economically motivated adulterations (EMAs) due to high competition among food producers, and increase in instances of food debasement, such as adulterations, pesticides, artificial taste enhancers, and certifications, boost the growth of the food safety testing market. However, lack of food control infrastructure in the developing economies, complexity in testing techniques, and lack of harmonization of regulations are anticipated to hamper the growth of the market.
The report emphasizes on different contaminants, food being tested, and technological adaptations. By contaminant, the global food safety testing market is classified into pathogen, genetically modified organism (GMO), chemical & toxin, and others. Depending on food tested, the market is categorized into meat & meat product, dairy & dairy product, cereal, grain, & pulse, processed food, and others. According to different technologies used for food safety testing, the market is segmented into agar culturing, PCR-based assay, immunoassay-based, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global food safety testing market is highly competitive, owing to the presence of several well-established manufacturers and vendors. The market has been undergoing significant consolidation over the last few years, and this trend is expected to continue further, owing to increase in acceptance of food safety testing and technological advancements.
The major players analyzed in this report are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL, Bio-Rad Laboratories, and Laboratory Corporation of America Holdings.Other key players operating in the global food safety testing market include Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Shimadzu Corporation, PerkinElmer, Inc., and others.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the market, with current trends and future estimations to elucidate the investment pockets.A comprehensive analysis of factors that drive and restrict the growth of the market is provided.The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.An extensive analysis of different segments facilitates to understand various products of the market.The key players are profiled, and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
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