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Food Safety Testing Market Will Hit Big Revenues In Future | Key Players are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas, ALS Limited

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Food Safety Testing Market Will Hit Big Revenues In Future | Key Players are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas, ALS Limited

May 11
11:35 2021
Food Safety Testing Market Will Hit Big Revenues In Future | Key Players are SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas, ALS Limited

MarketsandMarkets™
The market for food safety testing is estimated at USD 19.5 billion in 2021; it is projected to grow at a CAGR of 7.9% to reach USD 28.6 billion by 2026.

The report Food Safety Testing Market by Type (Natural, Synthetic, Nature-Identical), Application (Food Products, and Beverages), Form (Liquid, Powder and Gel), Solubility (Dyes and lakes) & Region(North America, Asia Pacific, Europe) – Global Forecast to 2026″, The market for food safety testing is estimated at USD 19.5 billion in 2021; it is projected to grow at a CAGR of 7.9% to reach USD 28.6 billion by 2026.

Foodservice buyers worldwide have been affected tremendously by foodborne illnesses among consumers, and this has directed their attention toward obtaining certification of food safety assurance. Food manufacturers are willing to pay for testing and certification and have included this practice in their manufacturing cycles. Food companies, major retailers, and importers have been undertaking food safety testing to reduce the occurrence of foodborne diseases and legal conflicts as well. Food safety assurance has become important for food companies to comply with the global standards of food processing and labeling and meet the consumer demand for food safety.

 Food Safety Testing Market

Food safety testing is conducted at critical levels of production and works as an essential step in certifying the quality and safety of food items served to customers. In the US, food recalls occur frequently. As a result, food production, food service, and food retail companies, together with government regulators, have increased efforts to ensure food safety, leading to the growth of the food safety testing market.

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The pathogens sub-segment is estimated to account for the largest market share in the by target tested segment for food safety testing market.

The pathogens segment is estimated to dominate the food safety testing market in 2021. Increasing instances of food contamination and foodborne poisoning are the major reasons for the growth of the pathogen testing market. The market for GMO testing is projected to grow at the highest CAGR during the forecast period. An increase in consumer awareness for genetically modified organisms in food, stringent regulatory restrictions on GMOs, and efficient technological trends are expected to drive the global market for GMO testing.

By technology, the rapid testing technology sub-segment is estimated to account for the fastest growth in food safety testing market.

Low turnaround time, higher accuracy, sensitivity, and ability to test a wide range of contaminants in comparison to traditional technology are expected to drive the market for rapid technology. Further with increasing competition in the global markets the company’s are launching newer and more advanced food testing methods and equipments which is driving the segment growth.

The meat, poultry and seafood sub-segment by form is estimated to account for the largest market share of food safety testing market over the forecast period.

The meat, poultry, and seafood segment is estimated to dominate the food safety testing market in 2021. The segment is projected to be the fastest-growing due to easy susceptibility to microbial and other contaminations along with the growing number of tests for meat, poultry, seafood products. Stringent government policies & regulations for meat, poultry, and seafood products and assurance of safe meat to consumers have led to consistent food safety testing with checkpoints at different stages to eliminate any incidences of meat contamination.

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Europe is estimated to be the largest market.

The market in this region is primarily driven by growth in the German and UK markets. It is also driven by European food policies that have been extensively emphasized by the National Reference Laboratories (NRLs) and the European Reference Laboratories (EURLs) to maintain food standards and protect consumer health. The market is further fueled by the presence of major food safety testing companies such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), and Intertek Group plc (UK), which are continuously investing and collaborating for the development of better and faster testing technologies to aid conformity to various food safety regulations.

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