Pune, April 10, 2023 (GLOBE NEWSWIRE) -- The Food Safety Testing Market was evaluated at USD 21.07 billion by SNS Insider and is expected to expand at a compound annual growth rate (CAGR) of 8.1% to reach USD 39.30 billion by 2030.
Food safety testing plays a critical role in ensuring the safety of the food supply and protecting public health. As the demand for safe and high-quality food products continues to grow, the food safety testing market is expected to expand significantly in the coming years. There are various methods used for food safety testing, including traditional microbiological methods, rapid testing methods, and molecular methods.
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Food Safety Testing Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 21.07 Billion |
| Market Size by 2030 | US$ 39.30 Billion |
| CAGR From 2023 to 2030 | 8.1% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Segments | • by Technology (q-PCR-Based Testing, d- PCR-Based Testing) • by Target tested (Pathogen, Genetically modified organism (GMO), Chemical & toxin, Others) • by Food tested (Agar culturing, PCR-based assay, Immunoassay-based, Others) |
| Company Profiles | Eurofins Scientific SE, Laboratory Corp. of America Holdings, Asurequality Limited, Intertek Group Plc, Bio-Rad Laboratories, Inc., Bureau Veritas SA, Thermo Fisher Scientific, Inc., Scientific Analysis Laboratories Limited, ALS Limited, SGS SA. |
| Market Drivers | •More noteworthy rise of food-borne disease episodes. •Climb of worldwide food and drink industry. |
Market Analysis
The demand for food safety testing is expected to continue growing, driven by increasing consumer awareness, government regulations, and technological advancements. With food safety testing becoming an essential aspect of the food industry, manufacturers will continue to invest in new testing methods and technologies to ensure the safety and quality of their products, ultimately contributing to the growth of the global food safety testing market.
Impact of Russia-Ukraine Conflict
While the Russia-Ukraine conflict has had a negative impact on many industries, it has also led to increased demand for food safety testing. As the conflict continues, it is likely that the food safety testing market will continue to grow, driven by trade disruptions, regulatory changes, and increased consumer demand for safe and high-quality food products.
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Key Regional Development
North America is expected to dominate the food safety testing market due to the strict safety rules in place. The United States, for example, has regulations which ensures that food products are safe and free from contaminants. As a result, companies in North America are investing heavily in food safety testing to comply with regulations and meet consumer demand for safe food. In the Asia-Pacific region, China is expected to dominate the market due to the increasing number of product recalls. Food safety incidents in China have led to stricter regulations and increased consumer awareness, making it essential for companies to conduct regular testing to avoid product recalls and maintain consumer trust.
Key Takeaway from Food Safety Testing Market Study
- Among the different methods used for food safety testing, the q-PCR-based testing segment is expected to capture a large share of the market. One of the key advantages of q-PCR-based testing is its ability to deliver rapid results with a high degree of accuracy. This makes it an ideal choice for food safety testing, where time is of the essence, and accuracy is critical.
- The agar culturing segment is expected to continue dominating the market due to its reliability, versatility, and cost-effectiveness. While other methods such as q-PCR-based testing are gaining popularity, agar culturing remains the go-to method for many food manufacturers and food safety authorities, providing a reliable and cost-effective means of ensuring the safety and quality of our food supply.
Recent Developments Related to Food Safety Testing Market
- Neogen Corporation, a global leader in food safety solutions, has announced the successful completion of its merger with 3M's Food Safety business. The merger will bring together the strengths of both companies to provide customers with a more comprehensive range of food safety solutions. With the completion of the merger, Neogen has acquired 3M's Food Safety business assets, including its testing platforms, microbiology products, and sample collection and preparation products.
- Kiwa Group, a global leader in testing, inspection, and certification (TIC) services, has recently acquired ASI Food Safety, a prominent food safety and quality assurance company. This acquisition is expected to enhance Kiwa's capabilities in the food industry and strengthen its position as a leading TIC service provider. The acquisition of ASI Food Safety will enable Kiwa to expand its services in the food safety and quality assurance sector, providing customers with a more comprehensive range of TIC services.
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Table Of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Food Safety Testing Market Segmentation, By Target Testing:
9. Food Safety Testing Market Segmentation, By Food Testing:
10. Food Safety Testing Market, By Technology
11. Food Safety Testing Market, By Region/ Country
12. Company Profiles
13. Competitive Landscape
14. Conclusion
About SNS Insider
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