Projection 2021: Consequence of COVID-19 Impact and forecast growth of Food Safety Testing Market

Global food safety testing market is projected to observe an exponential growth during the forecast period primarily owing to the increasing awareness amongst people regarding food safety around the world. By technology, the rapid technology segment is expected to witness swift growth in the global industry by 2026. Europe food safety testing market to hold a dominant position in the estimated period.

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As per a Research Dive latest report, the global food safety testing market is estimated to generate $32,100.0 million and grow at a CAGR of 7.3% during the forecast period from 2019 to 2026.

Europe food safety testing market is projected to have dominant position throughout the forecast period mainly due to the increasing occurrence of food borne diseases coupled with the growing demand for food testing in the region.

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Market Dynamics

The growing awareness of consumers regarding food safety is the major factor projected to boost the growth of the global food safety testing market over the forecast period. In addition, the rising penetration of population across the globe is another factor expected to propel the market growth by 2026. Moreover, the emergence of new techniques such as Bio-Electric Tongue and other innovative techniques developed by manufacturers to test food is expected to create lucrative opportunities for the global market growth in the upcoming years. Conversely, the increasing population across the globe and the desire of consumers for ready-to-eat food have stemmed in a longer as well as more complex food chain, which is estimated to hinder the market growth in the projected period.

Key Segment Takeaways of the Market:

The report segments the global food safety testing market into Technology, Type, Contamination, and Region.

• By technology, the overall market is bifurcated into rapid and traditional. Of these, the rapid technology segment is predicted to grow at a significant rate by the end of 2026 owing to growing incidences of food borne diseases.

• By type, the global market is segmented into meat, seafood, poultry, dairy, grain, cereal, processed food, and pulse. Among these, the meat, seafood, and poultry segments are anticipated to witness significant growth during the forecast period mainly because these food products can be simply observed during packaging and processing.

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• By contamination, the global market is classified into toxins, chemicals, pathogens, and others. Among these, the pathogens segment is projected to hold the largest share in the global market over the forecast period mainly due to the ongoing developments in technology.

• By region, the overall industry is divided into Asia Pacific, North America, LAMEA, and Europe. The Asia Pacific and Europe regions are expected to grow at a considerable rate in the forecast period owing to the increasing healthcare expenditure and growing prevalence of monogenetic diseases.

Major Market Players

* ALS Limited
* Bureau Veritas S.A
* DTS Food Laboratories
* Charles River Laboratories
* International Inc.
* Covance Inc.
* Eurofins Scientific
* Genetic ID.

Further, the report outlines several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio.

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This release was published on openPR.