The global food safety testing market accounted for USD 16.2 in 2019. The global food safety testing market is projected to register growth at a CAGR of 8.2% during the forecast period.
COVID-19 has impacted all the businesses over the globe. The food safety testing market is expected to witness some growth due to corona virus outbreak as people are focusing more on safety of the products. The consumers are adopting healthy lifestyle and spending in a product which assures safety to them. Thus, the requirement for food safety testing market is expected to increase.
For more details, visit: Global Food Safety Testing Market By Target Tested (Allergens, Mycotoxin, Others), By Technology (Traditional, Rapid Inspection), Application (Processed Food, Beverages, Others), By Region–Forecast & Opportunities to 2026
The demand for the packaged and processed food in developing and developed economics as the lifestyle of is changing. The popularity for quick-service restaurant is growing rapidly. The demand for quality test for edible items is also increasing globally. This is the major factors to drive growth in food safety testing market during the forecast period.
On the basis of target tested, the food safety testing market is segmented into GMOS, pathogens, pesticides, allergens, mycotoxin, heavy metals and others. The GMO segment is expected to register growth at highest CAGR during the forecast period. The awareness for genetically modified organism has been increasing among consumers in food and efficient trends of technology are likely to drive the growth in GMO testing segment during the forecast period.
On the basis of technology, the food safety testing is segmented into traditional technology and rapid inspection technology. Traditional technology accounted for maximum market share in 2019. This was the most widely used technology in various regions.
On the basis of application, the food safety testing market is segmented into dairy & dairy products, meat, poultry & seafood products, processed food, beverages, cereals & grains and others. The meat, poultry & seafood products accounted for highest market share of XX% in 2019. Meat, poultry & seafood products consumption is increasing worldwide and it requires mandatory safety testing by consumers. This has driven the growth in market share.
Europe region is expected to register growth at highest CAGR during the forecast period. This region have recorded so many issues for food safety within few years due to which regulations were made to assure complete food safety for public. The Control Laboratories, EU Reference Laboratories and National Reference Laboratories are the main authorities for maintaining food standards and protecting consumer health by ensuring the quality of food to the consumers. The food safety testing has been made mandatory in this region. This factor drives the growth in this region.
The key market players in food safety testing market are SGS, Intertek, Bureau Veritas, Eurofins, ALS Ltd., TUV SUD, Merieux, TUV Nord Group, AsurQuality, Microbac Laboratories, FoodChain, Romer Labs, Symbio Laboratories and RJ Hill Laboratories.
- What are the expected industry trends over the next three to five years?
- Which of the food safety testing technology is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?