The global food safety testing market was valued at USD 19.81 billion in 2022 and is projected to grow from USD 21.25 billion in 2023 to USD 36.01 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.82% during the forecast period.
Food safety testing includes various methods used to ensure that food products are safe for consumption. This is increasingly important due to heightened consumer awareness and stricter food safety regulations. Market growth is expected to be driven by factors such as the growing global population and the rising incidence of foodborne illnesses.
This information is detailed in the report titled “Food Safety Testing Market, 2023-2030” by Fortune Business Insights™.
Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/food-safety-testing-market-108286
Segmentation:
Increasing Incidence of Pathogen-Related Diseases Boosts Adoption of Pathogen Tests
Based on test type, the market is classified into pathogens, genetically modified organisms, allergens, chemicals & pesticides, and others. The pathogen testing segment holds the majority of the food safety testing market share due to the growing prevalence of pathogen-related illnesses and need to decrease the incidence of food-related diseases.
Growing Consumption of Protein-Rich Foods to Fuel Testing of Poultry, Meat & Seafood
Based on food tested, the market is segmented into meat, poultry & seafood, dairy products, processed foods, fruits & vegetables, and others. The meat, poultry & seafood segment is expected to capture the largest market share as the global consumption of protein-rich foods is increasing every year.
Conventional Tests Gain Traction Due to Their Higher Accuracy
The market is divided into quick and conventional segments based on technology. Because the conventional test is more accurate than the quick test, it has a bigger market share.
The market’s geographical scope includes South America, Asia Pacific, Europe, North America, and the Middle East and Africa.
Report Coverage:
The research offers a comprehensive analysis, including both qualitative and quantitative market insights. It details recent business developments such as partnerships, acquisitions, and new product launches. Additionally, the study examines current market trends and evaluates the impact of the COVID-19 pandemic on market dynamics and regulations across major countries.
Drivers and Restraints:
Increasing Food Adulteration Incidents to Increase Product Usage
The global rise in food adulteration has significantly increased food-related health issues due to harmful substances in contaminated food. In response, governments have implemented stricter food safety regulations, which are likely to drive advancements in food safety testing technologies.
However, the market may encounter challenges due to a shortage of qualified personnel to operate advanced equipment.
Ask for Customization:
https://www.fortunebusinessinsights.com/enquiry/customization/food-safety-testing-market-108286
Regional Insights:
Due to an increase in food imports, North America will dominate the global market.
North America is projected to lead the global food safety testing market, largely due to the significant presence of major food importers like the United States. The growing volume of food imports is expected to drive demand for food safety testing products, leading to stricter legislation and regulations to ensure food safety.
Europe is anticipated to experience steady growth, driven by an increase in acute poisoning cases from foods contaminated with hazardous pharmaceuticals and excessive chemical residues.
Competitive Landscape:
To stay competitive, top companies should concentrate on launching new products and merging.
Leading companies in the food safety testing industry include ALS Ltd., Bureau Veritas, Intertek Group, SGS S.A., and Eurofins Scientific S.E. These businesses are introducing innovative food safety testing solutions to enhance their brand value. Additionally, they are acquiring smaller companies to expand their global market share and strengthen their industry presence.
Notable Industry Development:
February 2023: A.I. food tech startup ImagoAI has introduced a new, reasonably priced fast mycotoxin test. The test says it can provide corn silage and corn mycotoxins readings in 30 seconds.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- ALS Limited (Australia)
- AsureQuality Ltd (New Zealand)
- Bio-Rad Laboratories, Inc. (U.S.)
- Bureau Veritas (France)
- Deibel Laboratories (U.S.)
- Eurofins Scientific SE (Luxembourg)
- Intertek Group PLC Solutions (U.K.)
- Mérieux NutriSciences (U.S.)
- SGS S.A. (Switzerland)
- Thermo Fisher Scientific Inc. (U.S.)
Read Related News:
https://finance.yahoo.com/news/agricultural-pheromones-market-surpass-usd-082800201.html
https://finance.yahoo.com/news/aloe-vera-extract-market-size-052300696.html
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]