Food Safety Testing Market Predicted to Top $23,204 Million by 2025 - Strategic Analysis of Prominent Players Such as SGS SA, Eurofins Scientific, Intertek Group Plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL, Bio-Rad Laboratories

the global food safety testing market accounted for $13.14 billion in 2017 and is expected to garner $23.20 billion by 2025, registering a CAGR of 7.3% from 2018 to 2025.

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Implementation of stringent regulations regarding food fraud, rise in economically motivated adulterations (EMA) owing to high competition among food producers, and increased instances of food debasement including the presence of harmful chemicals, adulterations, and certifications have boosted the growth of the market. However, lack of food control infrastructure and harmonization of regulation in the developing countries and complexity in testing techniques hamper the market growth. On the contrary, the rapid technological developments are expected to create lucrative opportunities for the market players in the near future.

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, 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.

The major companies profiled in this report are

•SGS SA
•Eurofins Scientific
•Intertek Group plc
•Bureau Veritas SA
•ALS limited
•TUV SUD
•AsureQuality Ltd.
•DNV GL
•Bio-Rad Laboratories
•Laboratory Corporation of America Holdings.

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