Food Safety Testing Market size worth over $15bn by 2024
Published Date: November 7, 2016 Authors: Vitika Verma, Shifa Iqbal
Food Safety Testing Market size is forecast to exceed USD 15 billion by 2024; according to a new research report by Global Market Insights, Inc.
Stringent regulatory compliances from FDA and REACH owing to growing food borne diseases outbreaks are driving global food safety testing market size growth. Food supply trade globalization is among the key major factor increasing the cross-contamination level and hence fuelling industry growth.
Growing consumer awareness and testing industry expansion due to increasing gastrointestinal disorder & toxicity cases will fuel Germany food safety testing market growth. Europe was already valued at over USD 2.5 billion in 2015. EU centralized health safety legislation to focus to reduce the overlapping inspections and introduced consistent, targeted, and clear enforcement will stimulate regional demand.
Changing consumer lifestyle and taste preferences for international cuisines are encouraging food supply chain recognition & improvement. International trade dependency on certification and safety tests are key factors fuelling industry growth.
Salmonella, campylobacter, E. Coli, Listeria are major reported pathogens for disease outbreaks. Pathogens market was over USD 6 billion in 2015. Modification in consumer diet and agricultural manufacturing practices are key factors responsible for pathogen evolution.
Growing concerns from ready to eat meals, bakery, infant diet, dried processed products, canned and preserved products to implement quality measures should drive processed industry growth. High cost associated with diverse diagnostic techniques due different product composition would impact food safety testing price trend.
Browse key industry insights spread across 144 pages with 240 market data tables & 12 figures & charts from the report, “Food Safety Testing Market Size By Contaminant (Pathogens [Salmonella, Listeria, E. Coli, Campylobacter], Pesticides, GMO, Toxins), By Technology (Traditional, Rapid [Convenience, PCR, Immunoassay]), By Food Type (Meat & Poultry, Dairy, Processed, Fruit & Vegetable), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Poland, China, India, Japan, Malaysia, Thailand, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
- U.S. food safety testing market size has witnessed significant gains; the country caters over 25% of the overall demand in 2015. Policy developments by Food Safety and Inspection Service (FSIS) pertaining to labelling and ensuring national commercial supply have encouraged regional industry growth.
- Pesticides accounted for over USD 800 million in 2015. Soil contamination, agriculture residue and contaminated water fishes are key foundation to enter pesticides in consumer dietary value chain.
- Rapid technology market will generate over USD 7 billion business by 2024. Accuracy in monitoring type, count, and metabolites micro-organisms related to product preservation, spoilage, safety, and fermentation should encourage rapid technology adoption.
- Immunoassay, PCR-based techniques, ELISA, rapid culture detection, and biosensors are key featured rapid technologies.
- Unhygienic condition while skinning and handling animals are key responsible factor favoring meat & poultry food safety testing market. The segment generated close to USD 2 billion business in 2015.
- China is set to observe over 11% growth, rising regulatory codes pertaining to product importation in Europe and North America will drive regional demand.
- Good Agricultural Practices (GAP), Good Manufacturing Practices (GMP), Good Hygiene Practices (GHP), and Hazard Analysis Critical Control Point (HACCP) are key authorities stimulating industry growth.
- Global food safety testing market share is partly consolidated as top three industry players together account for over 45% of the global demand. Major companies include Intertek, Beureau Veritas, SGS, and Det Norske Veritas.
- Other industry participants include ALS Laboratory, Eurofins Laboratories, Bio-Rad Laboratories, and Idexx Laboratories.
Food Safety Testing market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units & revenue in USD billion from 2013 to 2024, for the following segments:
Food safety testing market by contaminant
- E. Coli
Food safety testing market by technology
Food safety testing market by food
- Meat & poultry
- Processed food
- Fruit & Vegetable
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East & Africa
- Saudi Arabia
- South Africa