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Food Safety Testing Market is Projected to Grow $31.1 billion by 2027

10-18-2022 05:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

The food safety testing market is estimated at USD 21.1 billion in 2022; it is projected to grow at a CAGR of 8.1% to reach USD 31.1 billion by 2027. The implementation of strict regulations by various leading food safety organizations, including the Food Standards Agency, European Food Safety Authority, Food Safety and Standards Authority of India, and Canadian Food Inspection Agency, to prevent consumer illness and food fraud is expected to fuel the growth of the global food safety testing market.

The Food safety testing market consists of a few globally established players such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS Limited (Australia), TÜV SÜD (Germany), TÜV Nord Group (Germany), NEOGEN Corporation (US), Mérieux NutriSciences (US), AsureQuality (New Zealand), FoodChain ID (US), R J Hill Laboratories Limited (New Zealand), Microbac Laboratories, Inc. (US), Romer Labs (Austria), and Symbio Laboratories (Australia). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.

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Bacterial contamination takes place at all stages of slaughtering. Maximum contamination happens during defeathering or skinning owing to inappropriate animal handling and unhygienic conditions. Cross-contamination of products has been caused by improper equipment cleaning procedures. Bacterial contamination also results via scaling and eviscerating. Based on the HACCP food safety control system, the Food Safety and Inspection Service (FSIS) has developed regulations to prevent the contamination of meat and poultry products in slaughterhouses and processing plants.

Foodborne pathogens cause millions of cases of infectious gastrointestinal diseases each year, costing the global economy billions of dollars in medical expenses and lost productivity. It is expected that factors such pathogen evolution, changes in agricultural and food production techniques, and changes in human host status will be responsible for the emergence of new foodborne pathogens and foodborne diseases. The COVID-19 pandemic will contribute to the expansion of the food testing market, to reduce the number of foodborne diseases caused on by various types of contaminants.

Rapid technology is segmented into convenience-based PCR, immunoassay, and chromatography & spectrometry, which are used to test and identify contaminants through different means. The use of these methods also facilitates a huge reduction in the overall testing costs needed using traditional methods. Thus, their popularity amongst the startups and SME food manufacturing businesses, especially in China and India, is increasing significantly.

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According to the European Food Safety Authority (EFSA) and the European Centre for Disease Prevention and Control (ECDC), in 2018, the EU member states reported 5,146 foodborne outbreaks, affecting 48,365 people. Salmonella outbreaks in countries such as Slovakia, Spain, and Poland, accounted for 67% of the total outbreaks. Therefore, these outbreaks were mainly caused due to the consumption of eggs. In Europe, food safety policies are emphasized on by Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). These authorities aim at protecting consumers' health by ensuring the quality of the food supply chain. A growing number of food-borne illnesses, food contamination, and consumer awareness of food quality and safety are driving the growth of the market for food safety testing in Europe.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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