Global Food Safety Testing Market is Anticipated to Hold a Value worth US$ 39.8 Billion by 2030: Transparency Market Research, Inc.
Increasing consumer awareness and demand for food safety labels, entry of niche food trends such as ‘clean label’, ‘free form’, and more, are driving the market demand
Wilmington, Delaware, United States, Sept. 21, 2023 (GLOBE NEWSWIRE) — The global food safety testing market is projected to flourish at a CAGR of 8.1% from 2020 to 2030. As per the report published by TMR, a valuation of US$ 39.8 billion is anticipated for the market in 2030. As of 2023, the market for food safety testing is expected to close at US$ 23.0 billion.
The global increase in food production and processing, driven by population growth and changing dietary habits, has led to higher demand for food safety testing to ensure the safety of these products.
The growing consumer’s awareness of food safety issues and demand transparency in food production driving the market growth. The checking of labels and certifications indicating that products have undergone safety testing before purchase has increased.
The rising number of foodborne illness outbreaks has heightened consumer awareness and concern about food safety. This has driven the demand for effective testing to detect pathogens and contaminants in food products. Due to this, the food safety testing market is anticipated to grow during the forecast period.
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|Market Revenue||US$ 18.25 Bn|
|Estimated Value||US$ 39.8 Bn|
|Growth Rate – CAGR||8.1%|
|No. of Pages||310 Pages|
|Market Segmentation||By Application, Test Technology, Target Test and Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Thermo Fischer Scientific Inc., UL LLC, EMSL Analytical Inc., Microbac Laboratories, Inc.|
Key Takeaways from the Market Study
- As of 2022, the food safety testing market was valued at US$ 21.3 billion
- By test technology, rapid safety testing accounts for a high market share during the forecast period.
- Based on the target test, the pathogens segment accounts for the highest market share due to their low cost as compared to other variants
- Based on application, the meat and poultry, dairy products segment is expected to generate high revenue during the forecast period.
Food Safety Testing Market: Key Trends and Opportunistic Frontiers
- The increasing adoption of rapid testing methods has become more prevalent in the food industry. These methods provide quick results, allowing for faster decision-making and reduced product recall risks, driving the market demand.
- Increasing technological advances in testing technologies, including molecular techniques like PCR and next-generation sequencing (NGS), have made it possible to detect contaminants and pathogens more rapidly and accurately. This has expanded the range of testable parameters and improved testing efficiency, expected to boost the market demand.
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Food Safety Testing Market – Regional Analysis
- Europe holds the dominant market share in terms of value, and during the forecast period, it is expected to continue to lead the global market. Stringent regulations imposed by regulatory bodies are a significant factor driving the growth of the market in Europe. Key countries such as the United Kingdom, Germany, France, and Italy have advanced testing infrastructures and conduct routine testing for contaminants and pathogens.
- Asia Pacific is in second position after Europe, holding the major share of the global market over the upcoming years. The growing occurrence of food safety incidents, rising food exports, and globalization of food trade are driving the food safety testing market growth. The food safety testing market is expanding due to population growth, urbanization, and increased consumer awareness about food safety.
The leading players in the market are focusing on product innovations and manufacturing technologies to widen their reach in emerging markets Some of the key manufacturers operating in the food safety testing market, as profiled in the study, are –
- Thermo Fischer Scientific Inc.
- UL LLC
- EMSL Analytical Inc.
- Microbac Laboratories, Inc.
- Silliker, Inc.
- Covance Inc.
- Intertek Group Plc.
- SGS SA
- Bureau Veritas S.A.
- Eurofins Scientific SE
- The SOCOTEC Group
- International Laboratory Services
- ALS Limited
- AsureQuality Limited
- DTS Food Laboratories
Key Developments in the Food Safety Testing Market
- SGS company continually expands its food testing capabilities and geographical reach. SGS has made significant investments in cutting-edge testing technologies and laboratories. In July 2022, SGS launched a new food analysis laboratory in Mexico City. The new laboratory assists food organizations in checking the quality of food and regulate.
- Eurofins is one of the world’s leading food testing companies. It has acquired numerous laboratories and testing facilities worldwide, expanding its portfolio of testing services. Eurofins has also focused on developing advanced testing methods, including DNA-based technologies.
- Intertek offers a wide range of food safety and quality services. The company has expanded its food testing capabilities and offers services such as allergen testing, nutritional analysis, and microbiological testing. Intertek has also focused on digital solutions to enhance testing efficiency.
Partial Table of Content (ToC):
1. Global Food Safety Testing Market – Executive Summary
1.1. Global Food Safety Testing Market Analysis
1.2. Application – Product Mapping
1.3. Competition Blueprint
1.4. Technology Time Line Mapping
1.5. TMR Analysis and Recommendations
2. Market Overview
2.1. Market Introduction
2.2. Market Definition
2.3. Market Taxonomy
3. Market Dynamics
3.1. Macro-economic Factors
3.1.1. Rise in Consumption of Food Items across Globe
3.1.2. Global and Regional Per Capita Food Consumption (kcal per capita per day)
3.1.3. Change in Consumer Price Indexes (Percentage Change) 2018 (Forecast)
3.1.4. Population of Key Countries
3.1.5. Food and Beverage Industry Overview
3.1.6. Global Retail Dynamics
3.1.7. Per Capita Disposable Income
3.1.8. Organized Retail Penetration
3.1.9. Middle Income Population Group
3.1.10. Global GDP Growth Outlook
3.2.1. Economic Drivers
3.2.2. Supply Side Drivers
3.2.3. Demand Side Drivers
3.3. Market Restraints
3.4. Forecast Factors – Relevance and Impact
3.5. Key Regulations and Claims
4. Policy and Regulatory Landscape
4.1. A Snapshot of Global Regulations
4.2. Food Safety and Standards Regulations – FSSAI
4.3. Food and Agricultural Organization of the United Nations
4.4. Food Safety Modernization Act (FSMA)
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Food Safety Testing Market – Key Segments
- Bakery & Confectionery
- Dairy Products
- Processed & Packaged Food
- Infant Food
- Alcoholic & Non-alcoholic Beverages
- Functional Food
- Meat & Poultry Products
- Residues & Contaminants
- Chemical & Nutritional
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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