Food Safety Testing Market to Exceed USD21bn

food safety

The food safety testing market was valued at USD12.14bn in 2016, and is projected to reach USD21.43bn by 2024, growing at a CAGR of 7.4% from 2017 to 2024, according to Esticast Research & Consulting.

In 2016, the pathogen testing segment generated the highest revenue share in the global food safety testing market.

“Food safety is a critical issue not only for processed, frozen or canned products but also for farm-fresh products to ascertain that these products are risk-free for consumption. Contaminants and chemicals which can enter at any stage of the food value chain from production till it reaches the consumers are the primary food poisoning causes, which have increased the need to test such toxins. The ever-growing number of food safety scandals, health scares, and outbreaks of food-borne diseases emphasize the importance of constant vigilance for manufacturers and retailers of food products,” according to the company.

Moreover, the scale and complexity of food supply chains pose great challenges to traceability, making quality control paramount at every step. Food safety testing helps in ensuring the safety and checking the compliance of manufacturing processes. It helps to have an accurate picture of the state of products, both prior to shipment and upon arrival.

An increment in the number of outbreaks of diseases caused by food contamination and increasing emphasis to meet food safety compliance is the major driving agents for the food safety testing market. These factors have led to the adoption of various pathogen testing methods for food types such as meat & poultry, dairy, processed foods, fruits & vegetables, and cereals & grains. Globalization of food trade is also a major factor driving the market growth. However, the manufacturers lack knowledge of food safety regulations and perform food safety testing, neither in-house nor outsource food safety laboratories. This curtails the growth of the food safety testing market. Moreover, certain lengthy testing procedures and the high cost of the testing process are hindering the food safety testing market.

Food safety testing market has been witnessing steady growth due to stringent food safety regulations, increasing the number of food poisoning outbreaks, and increasing consumer awareness of food safety and its implications. The trend of globalization in food supply trade is expected to further create huge opportunities for the market. The food safety testing market is expected to grow due to increasing food safety concerns, the intensity of food safety scandals & frauds, and the increasing level of ill-effects on consumer health and safety. Positive indicators from processed food industry expansion resulting to increase in consumer affordability should positively influence industry growth. Increasing adulteration level to improve product shelf life are major factors causing testing demand during imports.

Food Safety Testing Market Segmentation

The segmentation is done on the basis of contaminant tested, technology, food tested and geography. On the basis of contaminant tested for, the market is segmented as Pathogens, GMOs, Pesticides, Toxins, and others (residue and allergens). On the basis of technology, the market is segmented as conventional and rapid testing methods. On the basis of food tested, the market is categorized as meat & poultry, dairy products, processed food, fruits and vegetables and others (grains). On the basis of geography, the market is segmented as North America, Europe, Asia-Pacific and Rest of the world. North America held the largest share of food safety testing market globally and generated a revenue of USD4.5bn in 2016.

“However, factors such as constantly growing population and emerging economies with high disposable incomes will lead the Asia-Pacific food safety testing market to grow at the fastest pace, at a CAGR of 8.3% during the forecast period of 2016-2024. Food Poisoning strikes an estimate of 48 million people in the US, every year. Among major meat products, beef is the dominant cause of outbreaks. On the basis of testing technology, the rapid testing segment is anticipated to lead the market in the near future, growing with a CAGR of 9.3% over the forecast period,” Esticast Research & Consulting said.

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