Food Safety Testing Market by Contaminant, Food Tested and Technology - Global Opportunity Analysis and Industry Forecast 2018-2025
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Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, the sale of food that is unfit and potentially harmful and deliberate misdescription of food.
Increase in economically motivated adulteration (EMA), owing to high competition and rise in the incidence of food frauds globally, is the prime factor that is expected to boost the growth of the global food safety testing market during the forecast period.
Various regulations on food safety particularly in the developed economies, growth in instances of food fraud, and rise in economically motivated adulterations (EMAs), owing to high competition among food producers, drive the food safety testing market.
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However, the high cost of food safety testing, lack of food control infrastructure in the developing economies, complexity in testing techniques, and lack of harmonization of regulations are expected to hamper the food safety testing industry growth.
In 2017, the processed food segment was the leading revenue contributor to the global food safety testing market. The processed food segment includes numerous processed products, such as infant formula, packaged food, wine, bakery & confectionery, and other processed food products; hence, there is a large possibility of food adulteration.
Rising economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds globally, is the prime factor that is expected to boost the growth of the global food safety testing market during the forecast period. In addition, growing demand for processed foods among millennials further fosters the growth of the market.
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