Food Safety And Hygiene Compliance Market to Grow at +6.0% CAGR to Reach $15.3 Bn by 2027 Led by Key Players AsureQuality Limited, Dicentra, Eurofins Scientific SE, Intertek Group, Mérieux NutriSciences, Microbac Laboratories, Neogen Corporation, PathSen
Europe is anticipated to be the fastest growing market and North America is to be the highest revenue contributor throughout the forecast period. Amendments in food safety compliances and demand for frozen, processed foods in the food safety and hygiene compliance market are the major factor driving the food safety and hygiene compliance market Moreover, The European Food Safety Authority (EFSA) is projected to list down the criteria for further pathogens in the future. The synchronized EU control system is applied to all the EU member countries. Health protection is a motive of all the EU laws and rules in the agriculture, food production, and animal husbandry sectors. Moreover, food hygiene legislation is mandatory to be followed by varied food & beverage industries. The entire food safety and hygiene compliance market is growing exponentially in which government has made it mandatory for the food operators to comply with all regulations.
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Food Safety and Hygiene Compliance Market - Company Profiles
• AsureQuality Limited
• Eurofins Scientific SE
• Intertek Group plc
• Mérieux NutriSciences
• Microbac Laboratories Inc.
• Neogen Corporation
• rfxcel CORP.
• SafetyChain Software, Inc.
New market initiatives was observed as the most adopted strategy in global food safety and hygiene compliance market. Few of the recent market initiatives are listed below:
2018: Neogen acquired the assets of Livestock Genetic Services, LLC. The acquisition of Livestock Genetic Services (LGS) enhances Neogen’s in-house genetic evaluation capabilities, and complements the company’s unparalleled global network of animal genomics laboratories. LGS has been a long-time strategic partner of Neogen’s genomics business.
2018: The Acheson Group (TAG) and SafetyChain Software stated about the introduction of TAG Risk Assessment Tool. The tool is presented on the robust SaaS quality management platform of SafetyChain Software. The tool offers food & beverage companies a sustainable and effective approach for managing risk in its supply chain.
2018: Intertek launched a third-party brand audit solution to effectively manage a company’s reputation by providing a 360° view of the organisations’ sites, ranging from e-reputation to health and safety. Intertek’s 360° Brand Assurance solution is suitable for all industries including food establishments such as bakeries, restaurants, hotels, catering, fast food chains, coffee shops, e-commerce, and retail and luxury stores.
Strict framework of food compliances
The different regulations in food production and safety majorly include laws associated with packaging & labeling, licensing registration & health and sanitary permits, and other licenses. These laws ensure that food must comply with the law and regulations in order to meet the country’s sanitary requirements and gain market access. In some countries, laws also govern food composition and quality standards. The food safety regulations are the major factor boosting the growth of food safety and hygiene compliance market.
High use of social media in food safety industry
In a current scenario, the consumer demands for safe and least-processed food. Whereas, consumers are not completely aware of food safety and hygiene practices. Social media play a pivotal role in improving the sources of information and it provides the food industry a platform to educate consumers about the correct practices. Also, the information about any foodborne outbreaks or illness due to any particular product is rapidly spread due to the availability of social media. Continuous expansion in the role of social media in food safety is expected to provide substantial growth opportunity to the industry players in food safety and hygiene compliance market.
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GLOBAL FOOD SAFETY AND HYGIENE COMPLIANCE - MARKET SEGMENTATION
• Personal Hygiene
• Facility Hygiene
• Food Safety Monitoring
By End User
• Full-Service Restaurants
• Quick Service Restaurants
• Grocery/ Retailers
• North America
o Rest of Europe
• Asia Pacific (APAC)
o South Korea
o New Zealand
o Rest of Asia Pacific
• Middle East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
• South America (SAM)
o Rest of SAM
Key Benefits of Buying this Research Study:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global food safety and hygiene compliance market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global food safety and hygiene compliance market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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