The food safety testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Food Safety Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The food safety testing market size has grown strongly in recent years. It will grow from $23.3 billion in 2023 to $25.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increased consumer awareness of food safety concerns, stringent government regulations and compliance standards, rise in incidence of foodborne illnesses and outbreaks, globalization of the food supply chain and imports, growth in focus on quality assurance and risk management, heightened concerns about chemical and contaminant residues in food.
The food safety testing market size is expected to see rapid growth in the next few years. It will grow to $37.99 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to adoption of rapid and high-throughput testing technologies, emphasis on blockchain and traceability for food safety assurance, research and development in next-generation testing platforms, expansion of testing services in e-commerce and direct-to-consumer markets, increasing demand for genetic testing in food authentication, growing importance of environmental monitoring in food production. Major trends in the forecast period include blockchain and digital traceability, next-generation sequencing (ngs), ai and machine learning in data analysis, rapid and point-of-use testing kits, allergen and gluten testing, remote sensing and spectroscopy.
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Scope Of Food Safety Testing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Food Safety Testing Market Overview
Market Drivers –
The rise in demand for convenience and processed food is expected to drive the food safety testing market. Increase in income level of people due to the growth of the economy specifically in the developing nations has led to a rise in demand for processed and convenience foods. Food safety testing is used in the processed food industry to ensure the quality of packaged food. For instance, according to a joint study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), India, and Grant Thornton, UK, the processed food area can draw in $33 billion in investments by 2024 and has a degree for huge interests in food handling advances and handling hardware, as the complete food creation in India is assessed to double by 2024. Therefore, rise in demand for convenience and processed food drives the growth of food testing market.
Market Trends –
Technological advancements are shaping the food safety testing market. Advancements and development of smart testing techniques in the field of analytical chemistry designed to provide accurate and cost-effective analytical solutions are being adopted by food and beverages manufacturers all around the globe. These testing systems can be effectively integrated into routine food screening protocols at each stage of the production and manufacturing processes. For instance, in 2020, Eurofins, the world’s leading food and feed testing laboratory group, has announced a launch of the SENSIStrip Allergen product range, that quickly detects allergens, which must be labeled on packaged food, and beverage related products.
The food safety testing market covered in this report is segmented –
1) By Contaminant: Pathogens, Pesticides, Genetically Modified Organisms (GMOs), Toxins, Others Containments
2) By Technology: Traditional, Rapid
3) By Application: Meat, Poultry, And Seafood Products, Dairy And Dairy Products, Processed Food, Beverages, Cereals And Grains
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Regional Insights –
North America was the largest region in the food safety testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food safety testing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the food safety testing market include SGS SA, Eurofins Scientific SE, Intertek Group plc, Bureau Veritas SA, ALS Limited, TÜV SÜD AG, AsureQuality Limited, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Microbac Laboratories Inc., Symbio Laboratories, DNV GL, NSF International, Idexx Laboratories Inc., Neogen Corporation, Agilent Technologies Inc., Shimadzu Corporation, PerkinElmer Inc., Merieux NutriSciences Corporation, The SOCOTEC Group, Aspirata, Danaher Corporation, Mettler-Toledo International Inc., Romer Labs Division Holding GmbH, Charm Sciences Inc., Hygiena LLC, R-Biopharm AG, MilliporeSigma, 3M Company, QIAGEN N.V.
Table of Contents
1. Executive Summary
2. Food Safety Testing Market Report Structure
3. Food Safety Testing Market Trends And Strategies
4. Food Safety Testing Market – Macro Economic Scenario
5. Food Safety Testing Market Size And Growth
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27. Food Safety Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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