Food Safety Testing Market is Projected to Reach A Value of USD 16.1 Billion by 2020

Date: 2015-09-07

“The food safety testing market is projected to reach a value of USD 16.1 billion by 2020, growing at a CAGR of 7.4% from 2015

Food safety testing has been increasing in the global market due to increasing consumer awareness, implementation of food safety regulations, globalization of food trade, and advancements in technology. The food safety testing market in North America has been growing consistently. Increasing concern for food poisoning & toxicity and introduction of new testing services & products by key market players have expanded the food safety testing market in Europe. There has been considerable growth in the European food safety testing market from 2012 to 2014. The Asia-Pacific market is expected to show tremendous growth in the near future. The RoW region, which is in the development phase, has been witnessing increasing consumer awareness with better testing services, which in turn is expected to fuel the growth of the food safety testing market in the region.

Pathogen was the largest segment, by contaminant, in the food safety testing market as of 2014. The prevalence of contamination in food industries is attributed to pathogens and poor handling & hygiene practices during production as well as supply. Major players in the food safety testing market invest in research & development to come up with new technologies that would offer precise and accurate results. Companies are developing real-time PCR kits for the detection of Salmonella, Campylobacter, and other food pathogens that can yield results in as little as a few seconds.

The rapid method dominated the food safety testing market in 2014. The main reason for the growth of the rapid testing market is the increasing demand for convenience food consumption, demand for food safety, and regulations and dissatisfaction of food manufacturers for the currently implemented food safety testing methods. Currently, there are more than 60 types of rapid tests accepted worldwide to check the safety of food. Rapid automated tests are more expensive than traditional methods, though they still have a significant position in the market.

The top five market players include SGS S.A. (Switzerland), Intertek Group Plc. (U.K.), Eurofins Scientific (Luxembourg), Bio-Rad Laboratories Inc. (U.S.), DNV GL (Norway), and Bureau Veritas S.A. (France). The other players include DuPont (U.S.), Lloyd’s Assurance Ltd. (U.K.), Silliker Inc. (U.S.), Ifp Institut Für Produktqualität GmbH (Germany), and Romer Labs Inc. (U.S.).

The segments of the food safety testing market considered for this study include technology, contaminant, food tested, and region. All growth parameters in individual segments have been considered. North America dominated the global food safety testing market in 2014.

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