Food Safety Testing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Food Safety Testing Market: Snapshot
The food safety testing market has become a crucial part of the growing food and beverage industry around the world in recent years. The key factor responsible for the rapid growth of the food safety market is the variety of food purchasing and consumption options now available to urban consumers, which has led to a corresponding reaction from regulatory bodies. The rapid evolution of the food and beverage industry to cater to the changing demographic patterns around the world is likely to ensure strong growth of the food safety testing market in the coming years.
The rising number of pathogen outbreaks due to food poisoning is likely to be a prime driver for the global food safety testing market in the coming years. Steady globalization of the food and beverage industry has resulted in rising demand for long-distance shipping of food products, which leaves significant scope for pathogenic contamination. This has forced several innovations in the food packaging industry in recent years in order to minimize the interaction of the food with its environment. Complementing this, the food safety testing market has grown by leaps and bounds to accommodate the rising number of new players in the lucrative food and beverage industry.
Regionally, North America and Europe are likely to remain the leading contributors to the global food safety testing market. The processed food industry has grown rapidly in these regions due to the widespread prevalence of an affluent urban demographic and popularity of processed food. The popularity of junk food in the U.S. is a key driver for the North America food safety testing market, along with the growing demand for exotic fruits, which entail international shipping.
Food Safety Testing Market: Overview
Food safety is extremely crucial for all types of foods to ascertain that they are suitable for human consumption. This includes processed or canned foods as well as farm-fresh products. The entry of contaminant or chemicals at any stage of the food value chain right from procuring raw materials to production till it reaches the consumers can lead to food poisoning, thereby necessitating the testing of such toxins.
Food Safety Testing Market: Key Trends
The global food safety testing market is displaying steady growth due to strict food safety stipulations, increasing consumer awareness about the importance of consuming safe food, and an increasing number of food poisoning flare-ups. The increasing globalization practices in food supply trade that has high chances of entry of contaminants is expected to present further opportunities for the food safety testing market. According to the World Health Organization, in 2014, over 2.5 million deaths were recorded from diarrheal diseases due to food contamination.
Moreover, increasing consumer affordability and changing lifestyle displays positive indication for the processed food industry, thereby positively influencing the market’s growth. Processed food products, bakery, ready to eat meals, preserved and canned food, and infant diet that have inherent contaminant retention nature need to adhere to food safety norms. Under-cooking, improper handling or improper storage are other factors that lead to contamination of these foods.
In developed countries, FDA and EU compliances give authority to consumers to trace the value chain of products, which will favor the industry’s growth. This allows consumers to track an unwanted substance that may have entered the value chain at some point.
Food Safety Testing Market: Market Potential
Capacity expansion and mergers and acquisitions are strategic moves that players in this market are focused on for growth. In a recent industry development, SGS S.A., a leading bioanalytical contract solutions provider has announced the expansion of its elemental analysis testing capabilities of its facility located at Villeneuve-la-Garenne, France. The company has invested in a brand new inductively coupled plasma mass spectrometry system in order to address the latest ICH Q3D regulatory guidelines for elemental impurities.
In another major industry development, Eurofins Scientific has acquired ASL Análises Ambientais, which is a Brazilian major for environmental testing services.
Food Safety Testing Market: Regional Outlook
The global food safety testing market can be analyzed with respect to the regional segments of North America, Europe, Asia Pacific, and Rest of the World. In North America, the U.S. accounted for a considerable revenue contribution to the market. The high medical expense incurred due to contaminant illness and development of the genetically modified organism (GMO) food industry that need to adhere to food safety standards are stimulating growth.
The U.K. and Germany account for a significant revenue contribution to the Europe market for food safety testing. In the U.K., almost one million individuals suffer from contaminant illnesses and more than 20 thousand individuals receive hospital treatment because of foodborne illness every year. Efforts from governments as well as consumers to reduce such outbreaks are supporting the regional market’s growth.
The high degree of food safety compliances that exist in Europe and North America is positively influencing the China food safety testing market to retain export trade.
Food Safety Testing Market: Competitive Landscape
Some of the leading players in this market include Eurofins Laboratories, Idexx Laboratories, ALS Laboratory, and Bio-Rad Laboratories. The food safety testing market features a high to moderate degree of competition due to the presence of a number of small-sized and large-sized firms. Top players in the market are focused on acquisitions and expansions to stay competitive in this market.
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Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
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What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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