Food Safety Testing Market to 2025 ( CAGR of 7.3% Expected) Prominent Players Profiled SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, ALS limited, TUV SUD, AsureQuality Ltd., DNV GL

The global food safety testing market size was valued at $13,144 million in 2017 and is estimated to reach $23,204 million by 2025, registering a CAGR of 7.3% from 2018 to 2025. In 2017, the polymerase chain reaction (PCR) technology segment accounted nearly half of the total food safety testing market share.

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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.

"Rising 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. In addition, growing demand for processed foods among millennials further fosters the growth of the market."

Increase in 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.

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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.

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.

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.

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.

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