BANGALORE, India | 21st August 2020: Food Safety Testing refers to the inspection of food items for bacteria, chemicals, and other harmful materials that cause disease. Three primary food contaminants, namely pathogens, chemicals, and genetically modified organisms (GMOs), are commonly targeted.
The global food safety testing market size was valued at USD 13,144 Million in 2017 and is estimated to reach USD 23,204 Million by 2025, registering a CAGR of 7.3% during the forecast period 2018 to 2025.
Implementation of various food safety regulations, especially in the developed economies and the implementation of stringent food safety regulations, drives the growth of the global food safety testing market size.
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TRENDS INFLUENCING THE FOOD SAFETY TESTING MARKET SIZE
Changing government rules on GMO labeling is expected to increase the Food Safety Testing Market size. Approximately 175 million hectares of genetically modified crops are grown in more than 25 countries, with the United States leading global production.
Developing regulations on GMO’s, requiring manufacturers to disclose the GMO’s in their products, will create new growth opportunities over the forecast timeframe.
Rising economically motivated adulteration (EMAs) due to high competition among food producers, and growing food debasement instances such as adulteration, pesticides, artificial taste enhancers, and certifications, are fuelling the growth of food safety testing market size.
Due to the changing lifestyle and increasing popularity of quick-service restaurants, there is a surge in demand for packaged and processed food in developed and emerging economies. In turn, this is expected to increase the food safety testing market size during the forecast period.
In addition, the growing demand for quality tests for processed and unprocessed meats is expected to drive the growth of Food Safety Testing Market size.
The rise in consumer awareness about food safety is expected to increase the growth of Food Safety Testing Market size. Consumers have been educating themselves on issues related to food, such as various contaminants, allergens, toxin-related physiological reactions, and the effects of processed and stored food on the body through various social media platforms and consumer regulatory acts. The shifting demographics and growing consumer awareness underline the need to prioritize food safety.
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FOOD SAFETY TESTING MARKET SHARE ANALYSIS
Based on food type, the Meat, poultry, & seafood is expected to hold the largest Food Safety Testing Market share during the forecast period.
Based on the type of testing, the GMO testing segment is expected to experience the highest revenue growth rate over the forecast period. This growth is powered by increased consumer awareness of the existence of harmful GMOs in edible products. In addition, growth in the production of GMO edible products is expected to increase the Food Safety Testing Market size.
Based on the region, North America is expected to be the largest market contributing to more than two-fifths of the global food safety testing industry. Technologies such as real-time PCR or quantitative PCR can accelerate advances in the industry. Furthermore, increasing regulations on genetically modified organisms over the forecast period will support growth in the industry.
The Asia Pacific is expected to witness the highest growth rate during the forecast period. Market expansion will be powered by strong growth in the F&B industry backed by enhanced food safety emphasis. China, India, Japan, and Thailand are the region’s largest F&B markets. Robust growth in meat production and trends towards processed food due to changes in lifestyle will positively influence the growth of Food Safety Testing Market size.
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FOOD SAFETY TESTING MARKET SEGMENTATION
By Contaminant
- Pathogen
- Genetically modified organism (GMO)
- Chemical & toxin
- Others
By Food Tested
- Meat & meat product
- Dairy & dairy product
- Cereal, grain, & pulse
- Processed food
- Others
By Technology
- Agar culturing
- PCR-based assay
- Immunoassay-based
- Others
Key Players
- SGS SA, Eurofins Scientific,
- Intertek Group plc,
- Bureau Veritas SA,
- ALS limited,
- TUV SUD,
- AsureQuality Ltd.,
- DNV GL,
- Bio-Rad Laboratories,
- Laboratory Corporation of America Holdings
Other key players operating in the global food safety testing market include Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Shimadzu Corporation, PerkinElmer, Inc., and others.
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SIMILAR REPORTS :
● South Africa Food Safety Testing Market
The South Africa food safety testing market size was valued at USD 65,727 thousand in 2017 and is estimated to reach USD 145,995 thousand by 2025, at a CAGR of 10.4%.
Stringent food safety regulations, globalization in the food trade, increased consumer awareness of food safety, technological advances in the testing industry are the major factors that are expected to increase the South African food safety testing market size.
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● Dairy Testing Market
The global Dairy Testing market size is projected to reach USD 4075 Million by 2026, from USD 3898.2 Million in 2020
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-9E1962/global-dairy-testing
● Meat Testing Market
The global Meat Testing market size is projected to reach USD 6774.6 Million by 2026, from USD 6352 Million in 2020
In 2018 North America represented the largest Meat Testing Market share. This demand is motivated by the increased awareness among consumers for healthy food products, and the region’s strict food safety regulations.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-10V1896/global-meat-testing
● Food Safety Testing Systems & Services Market
Food safety testing technologies are seeing increased use by food manufacturers and laboratories due to their rapid detection function, which in effect reduces the chances of food reminiscences leading to long product shelf life.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-0Y290/food-safety-testing-systems-and-services
● Food Safety Testing and Technologies Market
The global Food Safety Testing and Technologies market size is projected to reach USD 17600 Million by 2026, from USD 16440 Million in 2020
Increasing outbreaks of foodborne disease, enforcing strict food safety regulations, globalizing food supply, and the availability of advanced technologies capable of rapid testing are the major factors that are driving the growth of Food Safety Testing and Technologies Market size.
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● Food Safety Testing Service Market
View Full Report : https://reports.valuates.com/market-reports/QYRE-Othe-3D298/food-safety-testing-service
● Seafood Safety Testing Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1C336/seafood-safety-testing
● Pathogen Food Safety Testing Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-37A1765/global-pathogen-food-safety-testing
The post Food Safety Testing Market Size is Projected to Reach USD 23,204 Million by 2025 – Valuates Reports appeared first on Startup Success Stories India - News & Updates for Indian Entrepreneurs.
Author: Chander Sood
Date : 2020-08-21T15:34:17.000Z