Food Safety Testing Services Market Projected to Gain Significant Value by 2020
The growth of the global food industry is dependent on fool-proof food testing mechanisms. Lack of proper food testing can increase the risk of food poisoning and other foodborne diseases. In the recent past, several incidents have happened wherein improper safety mechanisms have led to the outbreak of foodborne illnesses. The authorities in the developed world have enforced stringent quality checks on their food imports and many food products have been outrightly banned for failing to meet the safety guidelines. Increase in the focus on food safety has also led to product recalls from some of the leading names in the food industry.
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Positive Outlook on the Global Food Safety Testing Services Market
The global food safety testing services market is anticipated to expand at a steady rate through 2020. Growth in developed regions, such as North America and Western Europe, and stringent regulations on the quality of food exports in developing countries are projected to be the key drivers for the growth of this market. However, lack of proper testing mechanisms in developing economies can pose a challenge to the growth of the global food safety testing services market.
Global Food Safety Testing Services Market: Segmentation
The global food safety testing services market is segmented into GMOs, pathogens, toxins, pesticides, and others. Food type segmentation includes fruit and vegetable, meat and poultry, convenience food, and others. Among these segments, the food safety testing services market for pathogens is anticipated to witness the fastest growth on account of rising number of foodborne outbreaks due to Salmonella. Other segments of the global food safety testing services market are also expected to witness steady growth during the forecast period.
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Key Regions for Food Safety Testing Market
North America is currently the dominant region of the global food safety testing services market, and it is expected to remain the key region through 2020. Stringent regulations on enforcing food safety guidelines in the U.S. And Canada have fueled the demand for the food safety testing services market in the region. The enaction of Food Safety Modernization Act (FSMA) in the U.S. has augured well for the growth of the global food safety testing services market.
Other key regions for the global food safety testing services market include Asia Pacific and Western Europe. It is anticipated that development of new food safety regulations will fuel the food safety testing services market in Asia Pacific in the next five years. It is anticipated that Asia Pacific's food safety testing services market will witness a very high growth rate in the next five years.
Key Players for Food Safety Testing Services Market
Some of the leading names in the global food safety testing services market include SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Lloyd’s Register Quality Assurance Ltd. (U.K.), and Intertek Group Plc. (U.K.)
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