Food Safety Testing Market to Hit $29.5 Billion by 2027, Says Global Market Insights Inc.
Food Safety Testing Industry demand is projected register over an 8% CAGR between 2021 and 2027, driven by technological upgradations in testing methods accompanied by modifications in food safety regulations.
SELBYVILLE, Del., June 22, 2021 (Newswire.com) - The food safety testing market value is anticipated to cross USD 29.5 billion by 2027, according to a new research report by Global Market Insights Inc. An increase in the inspection of genetically modified products, processed and ready-to-eat meals, and other meat products, is driving the food testing industry outlook. Also, growing export and imports owing to favourable FDI policies, globalization, and economic development has further resulted in the rise of food contamination levels.
Food contamination and the outbreak of food poisoning have led to the implementation of stringent safety regulations worldwide. Pathogens dominated the contaminants segment, with salmonella taking a major share in the market. Laboratories have been adopting rapid testing technologies to obtain quicker results. PCR-based methods dominated the rapid testing market. Immunoassay-based technologies were employed usually for the detection of toxins and food allergens.
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Traditional methods are used to enhance the growth of the intended organism and suppress the growth of the rest. There have been many innovations and developments to improve the quality of the results obtained. New improved media for selective enrichment, identification of the microorganisms, and culturing have been introduced in the market; however, these culturing processes are lengthy and labor-intensive.
Some major findings of the food safety testing market report include:
- Pathogen testing is expected to dominate the overall market share between 2021 and 2027, owing to the outbreak of salmonella, E. Coli, Listeria, and Campylobacter in fresh, as well as processed, food products.
- Change in labeling norms where food manufacturers can label their product GMO-free or non-GMO, has enhanced the testing for GMOs across the globe.
- The surge in the global food & beverage trade accompanied by penetration of rapid testing methods to ensure food safety will drive the business expansion.
- Large spending on R&D for new product development, along with expansion plans of multinational corporations will support the industry advancement.
Browse key industry insights spread across 330 pages with 261 market data tables & 17 figures & charts from the report, "Food Safety Testing Market Statistics By Contaminant (Pathogens [Salmonella, Listeria, E. Coli, Campylobacter], Pesticides, GMOs, Toxins), Technology (Traditional, Rapid [Convenience, PCR, Immunoassay]), Food Type (Meat, Poultry, & Seafood, Dairy, Processed Food, Fruits & Vegetables), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
Europe holds a substantial revenue share in the global food safety testing market and expected to witness over a 7.5% CAGR up to 2027. Countries including Germany, France, the UK, Italy, and Spain are the major contributors to the regional demand. Higher preference for ready-to-eat and processed food, and meat products are among the key factors augmenting market statistics. Europe observes a high volume-to-population ratio for food testing, owing to increasing health concerns and government focus on reducing the impact of foodborne diseases. Further, consumer preferences towards organic fruits will support business expansion.
The global food safety testing market share is highly fragmented with the presence of a large number of regional testing companies. The top players hold over 25% of the global market share. The key industry participants include Bureau Veritas SA, SGS AG, Eurofins Central Analytical Laboratories Inc, Idexx Laboratories Inc., Intertek Group PLC, Neogen Corporation, and Bio-Rad Laboratories. Major strategies observed in the industry include product innovation, geographic expansions, mergers & acquisitions, and technical collaborations.
Browse the ToC of this report at https://www.gminsights.com/toc/detail/food-safety-testing-market
Browse Related Report:
Food Pathogen Testing Market Statistics by Contaminant (Salmonella, Listeria, E. Coli, Campylobacter), Application (Meat & Poultry, Processed Food, Dairy Products, Fruits & Vegetables), Technology (Traditional, Rapid [Convenience, PCR, Immunoassay]), Food (Meat & Poultry, Dairy, Processed, Fruits & Vegetables) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast to 2024
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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