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Food Safety Testing Market Outlook, Trends, Analysis, Statistics and Forecast 2019-2025

Author : Rahul Sankrityayan | Published Date : 2019-06-25 

A comprehensive research study on Food Safety Testing Market introduced by Global Market Insights, Inc. provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

Rising healthcare costs has surged the consumer awareness on food safety, thus urging the government to modify the regulatory framework. Stringent norms and government initiatives to improve the food quality and eradicate the food illness has surged the industry advancement. For instance, the approval of FDA Food Safety Modernization Act has increased the adoption of food inspections among food processors on regular basis, thus augmenting the market advancement.

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Globally, food security is at constant risk due to food adulteration & contamination, leading to outbreak of food borne diseases. The WHO estimated that diarrheal diseases have caused around 2.4% i.e. 1.4 million of the total deaths in 2016. The act of food safety testing has significantly increased over the past few years owing to growing demand for tested food products and rising interest for increasing reliability & accuracy of test solutions, that can guarantee food safety. Apart from government, consumer forums and other nonprofit organizations are playing a significant role in paving a way for food safety.

The industry observes trends such as preference towards rapid technologies such as in-house testing kits particularly for routine tests owing to advantages such as reduced time for obtaining results and improved accuracy. Also, technological upgradations related to real-time PCR and immunoassay technology will augment the food safety testing business revenues. For instance, in August 2017, Bio-Rad laboratories launched CFX Maestro, a software for real-time instruments such as PCR for data analysis, to gain competitive advantage.

Increase in demand for inspection of organic products, processed & ready-to-eat meals, and meat products is driving the food & beverages industry landscape. Growing export & imports levels of owing to favorable FDI policies, globalization, and economic development has further resulted in rise of food contamination levels.

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Prevalence of traditional methods accompanied by higher cost of rapid technology can restrain the adoption of new technologies, thereby hampering the business revenues. Also, lack of infrastructure in developing economies to control the food adulterations can impact the market development.

Rapid food safety testing technology holds a significant share in the food safety testing market and is forecast to witness over 7.5% CAGR up to 2025. High prevalence in North America and Europe owing to technological advancements and increasing competitiveness in the industry has surged the market growth. Increasing reliability of rapid inspection methods and reduced time for getting outcomes are propelling the industry share.

Meat, poultry, & seafood dominates the global food safety testing market and is anticipated to to reach around USD 7 billion in 2025. Also, the global meat production has grown to around 320 million tonnes in 2014 as compared to 230 million tonnes in 2000 owing to increase global meat consumption per capita, health consciousness, and increasing consumer spending on processed meat products due to busier lifestyles.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/food-safety-testing-market

North America holds around 39% share in the global food safety testing market in 2018. High demand for rapid technology particularly for routine testing supported by significant research & development investments is proliferating the industry share. Innovations in instrument-based testing will positively influence the market growth in the region.

The global food safety testing market is moderately fragmented with presence of many multinationals and regional players. The key industry participants include Eurofins Scientific, SGS AG, Bureau Veritas S.A., Idexx Laboratories Inc., Neogen Corporation, Intertek Group PLC, and Bio-Rad Laboratories. The key strategies observed in the industry include mergers & acquisitions, strategic R&D investments, and geographic expansions to enhance business revenues.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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