Food Safety Testing Market Strategy, Industry Demand Analysis Forecast To 2024
Posted by Pradeep Zende on February 13th, 2020
food safety testing market is continuously growing at the rapid pace; mainly due to the growing concerns for food contamination and the burgeoning food & beverage sector. Validating the product quality and ingredient authenticity is a paramount concern for the F&B industry. Also, confirmation that food does not contain ingredients unacceptable to certain ethnic groups is highly important. Testing facilities should be able to trust their technology so that consumers can trust the labeling on food.
Considering the kind of traction, the market perceives currently Market Research Future (MRFR)in its recently published study report asserts that the global food safety testing market is booming and expected to grow at a phenomenal CAGR between 2016 and 2027, accruing voluminously by 2027.
Factors substantiating the market growth include the stringent food safety regulations, the increasing number of food poisoning outbreaks, and spreading consumer awareness towards food safety and its implications. Simultaneously, the trend of globalization in food supply trade is expected to create huge traction in the food safety testing market further.
Inadequate cooking, poor handling, and improper storage systems lead to contamination. Besides, the factors such as the requirement of implementation of quality measures in the bakery products, dried processed products, ready to eat meals, infant diet, and preserved & canned food products owing to its easy contaminant retention nature drives the market growth to an extent.
Furthermore, augmented import and export activities provide impetus to the market growth, resulting in the food supply trade globalization that increases contaminant level due to the inadequate control and monitoring. Also, the increasing adulteration level to improve product shelf life along with some significant entities such as Good Agricultural Practices (GAP), Good Manufacturing Practices (GMP), Good Hygiene Practices (GHP), and Hazard Analysis Critical Control Point (HACCP) support the market growth.
However, lack of awareness among manufacturers about the food regulations due to which they overlook to perform food safety testing is likely to impede the market growth.
Global Food Safety Testing Market – Segments
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
By Contaminants: Comprises Pathogens, GMOs, Pesticides, and Toxins, among others.
By Technologies: Traditional and Rapid Technology among others.
By Food Types: Meat and Poultry Products, Dairy Products, Fruit & Vegetables, and Processed Foods, among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
The subsegment - Pathogens, By Contaminants Detections accounts for a significant market share followed by GMOs which hold a considerable market share.
Global Food Safety Testing Market – Regional Analysis:
Globally, the North American region accounts for the largest market for food safety testing. The market is projected to continue with its dominance throughout the forecast period attributing to some of the burgeoning sectors such as food and beverage, healthcare, hospitality, pharmaceuticals, and personal care in the region, Further, the demanding research and development initiatives are expected to create a substantial revenue pocket. Additional factors substantiating the market growth include high healthcare expenditures and substantial investments in the R&D activities in the field of healthcare.
Europe accounts for the second-largest market for food safety testing which is expected to grow at a considerable CAGR. Favorable governmental support and initiatives drive the growth in the market extensively. The proliferating healthcare sector in the region, backed by the resurging economy is fostering the market growth brilliantly allowing the region to acquire a significant market share.
Whereas, the Asia Pacific food safety testing market is proliferating rapidly, emerging as one of the lucrative markets, globally. Countries in the Asian region especially, provide immense growth opportunities for the food safety testing market, accounting over half of the world’s total population. The region is estimated to register a staggering CAGR during the review period.
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About the AuthorPradeep Zende
Joined: February 12th, 2019
Articles Posted: 396
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