Global Food Safety Testing Market Report 2023
Posted by Bharat Book on January 21st, 2019
Bharat Book Bureau Provides the Trending Market Research Report on "Food Safety Testing Market by Target Tested, Technology, Food Tested, and Region - Global Forecast to 2023" under Food & Beverage Category. The report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Increase in global outbreaks of foodborne illnesses and stringent food safety regulations is expected to drive the overall growth of the food safety testing market.”
The global food safety testing market size is projected to grow from USD 17.0 billion in 2018 to USD 24.6 billion by 2023, at a CAGR of 7.7% during the forecast period. The food safety testing market is driven by various factors such as an increase in global outbreaks of foodborne illnesses, globalization in food trade, stringent food safety regulations, and the availability of advanced rapid technology. However, the lack of coordination between market stakeholders and improper enforcement of regulatory laws & supporting infrastructure in developing countries can hinder the growth of the market.
The pathogens segment is estimated to dominate the food safety testing market in 2018.”
The pathogens segment is estimated to account for the largest share in 2018, in terms of value. Pathogens are harmful and contagious agents liable for food contamination, resulting in diseases in the host. They form a major part of food contaminants; Salmonella, E. coli, Listeria, and Campylobacter are the major pathogens responsible for food contamination and toxicity; they account for nearly 99% of the contaminants present in food and account for 96% of food safety testing. Other pathogens responsible for food contamination are Staphylococcus and Shigella, among others. In developing and under-developed countries, pathogens are the major cause of illness and death, amounting to approximately 1.8 million deaths, annually. These factors are expected to drive the pathogens segment.
Rapid food safety techniques are projected to account for the larger market share during the forecast period.”
There is an increasing demand for rapid tests from food manufacturers, to test an adequate number of samples in less time, thereby accelerating the supply chain activities. Rapid microbiology involves advanced technology that is used for isolation, early detection, characterization, and enumeration of microorganisms and their by-products such as toxins from the provided samples.
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Asia Pacific is projected to be the fastest-growing region in the food safety testing market.”
The market in Asia Pacific is projected to be the fastest-growing due to higher adoption of new technologies with increasing foodborne illnesses. The growth of the market in this region is driven by various rules & regulations implemented in different countries. Food security standards are increasingly becoming stringent to ensure safer supply of food to individuals in local and foreign countries.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, food safety testing service providers, and executives from various key organizations operating in the food safety testing industries.
• By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%
• By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, and RoW: 5%
The food safety testing market comprises major service providers such as SGS (Switzerland), Eurofins (Luxemburg), Intertek (UK), Bureau Veritas (France), Mérieux (US), ALS Limited (Australia), TUV SÜD (Germany), and TÜV Nord Group (Germany), Microbac Laboratories (US), AsureQuality (Australia), FoodChain ID (US), Romer Labs (Australia), Symbio Laboratories (Australia), and R J Hill Laboratories (New Zealand).
The study covers the food safety testing market across segments. It aims at estimating the market size and its growth potential across different segments such as target tested, technology, food tested, and region. The study also includes an in-depth competitive analysis of the key players in the market; along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall food safety testing market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
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