Top Facts You Didn’t Know About Food Safety Testing market & Impact of COVID-19Posted by Mrudula Karmarkar on December 28th, 2021 The global food safety testing marketsize is expected to reach USD 30.1 billion by 2025, escalating at a CAGR of 7.7% over the forecast period, as per a new report by Grand View Research Inc. Rise in the outbreak of foodborne diseases and the enforcement of stringent regulatory norms regarding optimum quality of edible items are expected to drive the demand for product safety in the market over the projected period. The food safety testing market is expected to witness a moderate growth owing to relaxations provided by governments on the food label norms manufacturers have to comply with during the pandemic outbreak. This is necessarily done to ensure an ample supply of essential food products to the population particularly in economies affected by lockdown. We at GVR are trying to quantify the impact of this pandemic on the food safety testing market. Get your copy now to gain deeper insights on the same. The global market is highly consolidated and dominated by major players including SGS S.A.; Eurofins Scientific; Intertek Group plc; Bureau Veritas S.A.; ALS Ltd.; Mérieux NutriSciences; and AsureQuality Ltd. Major players control close to 50% of the market share. Processing companies are increasing their investments to ensure a higher quality of edible items. Governments and food producers have undertaken extensive efforts to improve the quality of edible products owing to health concerns and economic losses caused by contamination. In addition, the presence of authorities, such as the FDA and FSSAI, to ensure conformance to quality standards for the products, is expected to result in increased safety checks. The market for this type of safety checks is highly competitive in nature as key players compete not only with other companies that conduct tests but also with the internal analytics departments of end users and government agencies. The food safety testing market is witnessing notable technological developments such as the usage of electrical biosensors in microbiological safety testing. This is expected to reduce the analysis time with increased accuracy in results. In addition, increasing expenditure by processing companies to ensure higher quality of edible items is expected to bode well for market growth. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/food-safety-testing-industry/request/rs4 The existence of inadequate regulatory infrastructure in underdeveloped countries due to limited resources and lack of restructuring of food regulatory agencies is expected to limit growth. However, the industry in Asia Pacific is expected to grow owing to notable growth of food processing sector in developing economies such as India and China and the enforcement of stringent regulations regarding product safety. Increasing awareness regarding quality checks and the examining of edible products are also expected to contribute to the market growth over the forecast period. Further key findings from the report suggest:
Rising demand for packaged and processed food in developed and developing economies owing to factors, such as changing lifestyle and growing popularity of quick-service restaurants, is anticipated to drive the need for safety testing of edible items. In addition, rising demand for quality tests for processed and unprocessed meats is expected to drive the food safety testing market growth. Food safety has often been used as a means to control trade and impose taxes and tariffs. In addition, shift in the behavior and demographics of population across Asia Pacific is expected to spur the consumption of packaged food, which is expected to drive the demand for safety assessment of edible items over the forecast period. Technological improvements concerning the expansion of reliable, rapid quality and safety check techniques such as biosensors, polymerase chain reaction (PCR), and rapid culture detection are presenting new opportunities for market development. In addition, rising use of electrical biosensors in microbiological testing to reduce analysis time is likely to drive the market for safety evaluation of edible items over the forecast period. Microbiological testing segment emerged as a dominant segment in 2018 and accounted for 28.0% of the market revenue share. The segment is expected to gain momentum as it helps detect microorganisms in edible products with the use of chemical, biological, molecular, and biochemical methods, providing highly accurate results with respect to their composition. Microbiological tests are carried out to determine the presence of indicator microorganisms in edible products including acid-resistant micro-organisms, heat-resistant micro-organisms, and fecal contamination. These tests also determine the presence of industrial microorganisms such as Bifidobacteria, Lactobacillus casei, and Lactobacillus rhamnosus. Residues & contamination testing was the second-largest market segment both in terms of volume and revenue in 2018 on account of extensive safety and quality checks done to detect the overuse of chemicals such as pesticides and herbicides and growth in the utilization of antimicrobial drugs and additives. A rise in the demand for contamination checks for meat, poultry, and meat products is expected to drive the segment growth. Genetically modified organism (GMO) testing segment is expected to witness the fastest growth rate, in terms of revenue, over the forecast period, primarily driven by rising awareness among consumers regarding the presence of harmful GMO in edible products. In addition, growth in the production of GMO edible products is expected to drive the demand for such safety tests to ensure optimum food quality. Grand View Research has segmented the global food safety testing market on the basis of test, end-use: Food Safety Testing Test Outlook (Revenue, USD Million, 2014 - 2025)
Food Safety Testing Application Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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