NEWARK, Del, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global food safety testing services market value is likely to jump from US$ 15,836.90 million in 2023 to US$ 30,061.73 million by 2033. This anticipated growth is expected to be driven by a steady CAGR of 7.0% in food safety testing services demand over the next decade.
Testing food products is thought to be a very significant step, even though it is the final step in the manufacturing process. Food product testing is necessary to verify that the food is safe to eat and devoid of physical, chemical, and biological risks.
There is a lot of regulation in the food safety testing services market. This sector uses both traditional techniques, such as culture-based and immunoassays, and cutting-edge strategies, including DNA-based and rapid testing.
The market for food safety testing is positioned for ongoing success and growth as a result of the expanding food industry and growing consumer concern over food safety. Its continued success will depend on the creation of innovative and cost-effective testing equipment, which will allow consumers to trust the food they consume.
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Individuals with growing sensitivity to allergens such as gluten and dairy propel allergy-free product development globally. As a result, allergy-free products have been introduced, with manufacturers frequently testing packaged and processed food items to trace particles.
Chemical testing in organic food products is also becoming more popular in the market due to firms testing these products worldwide for evidence that they contain listed or banned chemicals to meet the requirements of different country-level regulatory organizations.
The food business in developing countries is extremely fragmented, posing a higher risk of contamination. Food control systems may be split across national, state, and local organizations, and the efficacy of their execution is dependent on the power and effectiveness of the organization in charge at each level. Consumers are unlikely to be safeguarded to the same level across the country, and evaluating the success of initiatives by national, state, or municipal authorities can prove difficult.
With increased illness occurrences and public awareness of foodborne diseases worldwide, the present food safety testing industry is transitioning toward quick culture-independent molecular or microbiological testing methods. Rising consumer fascination with food quality has spurred significant technological improvements, propelling the food safety testing industry in emerging and developed countries.
“With the development of processed and composite food products, the potential for contamination and safety risks also grows. This trend is set to propel revenue growth in the food safety testing service industry, presenting a significant opportunity for providers,” opines a lead food and beverage analyst at FMI.
Key Takeaways from the Food Safety Testing Services Market:
• In 2022, the United States asserted its dominance in the food safety testing services industry, boasting a commanding 26.1% global market share.
• The food safety testing services industry in the United Kingdom is poised for substantial growth, with a projected CAGR of 4.4% through 2033.
• 3.3% market share was recorded in the Japan food safety testing services sector in 2022.
• India's rapid development in the food safety testing services industry is evident through its projected CAGR of 6.2% during the forecast period.
• Germany exhibited a 6.7% share of the global food safety testing services industry in 2022.
• China is anticipated to rise speedily in the food safety testing services industry, with a projected CAGR of 10.7% over the forecast period.
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Key Players and Strategies for Success in the Food Safety Testing Services Market
In recent years, the food safety testing services industry has evolved as a vibrant and fast-increasing segment of the global food safety market. Leading firms in this ever-evolving landscape adopt several approaches to address customers' changing desires and create a presence in a market that is becoming increasingly competitive. The following are essential aspects concerning key competitors and success methods in the food safety testing services market:
• Putting resources into research to create unique and effective food safety testing services.
• Construct effective branding and marketing initiatives to stand out in a competitive market.
• Remain informed on rules and verify that the products comply with regulatory criteria.
• Establish relationships with food service companies to increase distribution.
• Remain adaptive to shifting consumer demands and prevailing market trends.
Recent Developments in the Food Safety Testing Services Market
In March 2022, Bureau Veritas opened its sixth Canadian Microbiology library in Winnipeg, Manitoba. The new laboratory is going to supply both quick pathogen testing and indicators.
In February 2021, SGS SA confirmed a collaboration with RLP AgroScience. The aim is to enable complicated personalized tests for pesticide, chemical, biocide, and medication/veterinary drug ecological and human safety evaluations.
Key Companies Profiled in the Global Food Safety Testing Business Report
- Accugen Laboratories
- Adpen Laboratories
- Aegis Food Testing Laboratories (Vanguard Sciences)
- ALS Limited
- Asureuality Limited
- Avomeen Analytical Services
- Bio-Rad Laboratories
- Bureau Veritas SA
- Campden BRI
- Det Norske Vertias AS (DNV)
- EMSL Analytical Inc.
- Eurofins Scientific
- Exova Food Hygiene & Health Laboratory
- Genon Laboratories Ltd.
- Idexx Labora
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Key Segments of Food Safety Testing Services Industry Survey
By Test:
- Allergen Testing
- Chemical and Nutritional Testing
- Genetically Modified Organism Testing
- Microbiological Testing
- Residue and Contamination Testing
- Others
By Application:
- Meat, Poultry and Seafood Products
- Dairy and Dairy Products
- Beverages
- Processed Food
- Cereals & Grains
By Technology:
- Polymerase Chain Reaction (PCR)
- Immunoassay-based
- Chromatography and Spectrometry
- Other Technologies
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, post-merger integration, and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Have a Look at Related Reports of Food and Beverage Domain:
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Food Preservatives Market: In 2023, it is predicted that the market for food preservatives would be worth US$2,965.62 million. By 2033, the market is projected to grow at a 6.8% CAGR and reach US$ 5,725.70 million.
Soy Food Products Market: The Soy Food Products market was estimated to be worth US$ 45 billion in 2022 and is anticipated to increase at a CAGR of 5.1% from 2022 to 2032, when it will be worth US$ 73 billion. According to recently released market analysis data from Future Market Insights, the demand for soy food products worldwide is expected to increase by 5.6% Y-o-Y in 2022.
India Ready to Mix Food Market: The India ready-to-mix food market is expected to grow at a CAGR of 15.7% over the long run and reach a size of US$ 284.4 Mn by 2020. The sectors for snack mixes and curry mixes are anticipated to hold the largest market shares for ready-to-mix foods in India.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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