Food Safety Testing Market to Exhibit Strong Growth in the Coming Years

The practice of food safety has been gaining immense attention over the past few years. It basically comprises better handling of food, preparation, and safe and hygienic storage of food in order to avoid spoilage that may lead food poisoning. Increasing outbreaks of illnesses and diseases due to food contamination has led to the manufacturers and distributors to focus more on food safety and meet the food safety compliance, thereby leading the worldwide market for food safety testing to achieve good growth ahead. Moreover, growing awareness towards food safety is also boosting the growth of this market.

Market overview

The global food safety testing market that was valued at USD 12.01 Billion in 2016 is projected to grow at a CAGR of 7.60% during the forecast period from 2017 to 2022, reaching a value of 18.54 Billion by 2022.

On the basis of target tested, pathogen segment is expected to hold the largest segment in 2017, owing to the rising incidences of foodborne illness across the world due to outbreaks of pathogens.

Based on technology, rapid technologies segment held the largest market share in 2017, owing to its multifunctional nature that offers time-efficient and flexible testing to the end-users.

Which region is expected to be the most lucrative market?

Among regions, the market for food safety testing in North America accounted for the largest share in 2017, owing to the increasing outbreaks of foodborne illnesses and strict well-established regulations related to food safety, presence of large number of food safety testing players in this region, and growth in population. However, the market in Asia-Pacific is estimated to be the fastest-growing region over the forecast period. This growth can be attributed to the large market base for food & beverages, improving standards of living due to the rising income levels, and growing awareness regarding food safety in this region.

What are the factors influencing the growth of this market?

The growth of the global market for food safety testing is being primarily influenced by the following factors:

  • Increase in outbreaks of foodborne illnesses
  • Stringent food safety regulations
  • Globalization of food trade
  • Rising demand for convenience and packaged food products
  • Availability of advanced technology for rapid testing

In addition, growing consumer awareness regarding food safety and emerging market for food safety testing is further expected to create an array of opportunities for the growth of this market.

On the downside, lack of food control infrastructure and resources in developing nations is the major factor likely to hinder the growth of this market to a certain extent. Moreover, the players in this market have to overcome certain challenges like time-consuming testing methods, lack of harmonization of food safety regulations, and inappropriate sample collection standardization.

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Major players and strategies implemented

The global market for food safety testing includes players such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas SA (France), and ALS Limited (Australia). Other players comprise Mérieux NutriSciences (US), TÜV SÜD (Germany), TÜV Nord Group (Germany), AsureQuality Ltd (New Zealand), Microbac Laboratories, Inc. (U.S.), Genetic ID NA, Inc. (US), and Laboratory Corporation of America Holdings (US). These companies are adopting strategies such as new service launches, mergers & acquisitions, expansions, investments, collaborations, partnerships, and agreements in order to witness continued growth and explore opportunities in other regions.

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