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Food Safety Testing Services Market Insights and Analysis for Period (2014-2020)

08-08-2017 03:59 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Food Safety Testing Services Market Insights and Analysis

Governments around the world have massively increased their focus on ensuring food safety. The threat of foodborne illnesses has led to stringent regulations from food testing authorities worldwide. The global food trade has increased manifold in the last decade or so, and manufacturers have become increasingly reliant on food testing mechanisms to ensure that they are following all the regulations and guidelines.

The growth of the global food industry is dependent on fool-proof food testing mechanisms. Lack of proper food testing can increase the risk of food poisoning and other foodborne diseases. In the recent past, several incidents have happened wherein improper safety mechanisms have led to the outbreak of foodborne illnesses. The authorities in the developed world have enforced stringent quality checks on their food imports and many food products have been outrightly banned for failing to meet the safety guidelines. Increase in the focus on food safety has also led to product recalls from some of the leading names in the food industry.

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Positive Outlook on the Global Food Safety Testing Services Market

The global food safety testing services market is anticipated to expand at a steady rate through 2020. Growth in developed regions, such as North America and Western Europe, and stringent regulations on the quality of food exports in developing countries are projected to be the key drivers for the growth of this market. However, lack of proper testing mechanisms in developing economies can pose a challenge to the growth of the global food safety testing services market.

Global Food Safety Testing Services Market: Segmentation

The global food safety testing services market is segmented into GMOs, pathogens, toxins, pesticides, and others. Food type segmentation includes fruit and vegetable, meat and poultry, convenience food, and others. Among these segments, the food safety testing services market for pathogens is anticipated to witness the fastest growth on account of rising number of foodborne outbreaks due to Salmonella. Other segments of the global food safety testing services market are also expected to witness steady growth during the forecast period.

Key Regions for Food Safety Testing Market

North America is currently the dominant region of the global food safety testing services market, and it is expected to remain the key region through 2020. Stringent regulations on enforcing food safety guidelines in the U.S. And Canada have fueled the demand for the food safety testing services market in the region. The enaction of Food Safety Modernization Act (FSMA) in the U.S. has augured well for the growth of the global food safety testing services market.

Other key regions for the global food safety testing services market include Asia Pacific and Western Europe. It is anticipated that development of new food safety regulations will fuel the food safety testing services market in Asia Pacific in the next five years. It is anticipated that Asia Pacific's food safety testing services market will witness a very high growth rate in the next five years.

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Key Players for Food Safety Testing Services Market

Some of the leading names in the global food safety testing services market include SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Lloyd’s Register Quality Assurance Ltd. (U.K.), and Intertek Group Plc. (U.K.)

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Future Market Insights (FMI) is a leading market intelligence and consulting firm.We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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