Food Safety Testing Market to Reach USD 55.53 Billion by 2031, Growing at 7.5% CAGR | SkyQuest Technology
Westford, June 25, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Food Safety Testing Market will attain a value of USD 55.53 Billion by 2031, with a CAGR of 7.5 % during the forecast period (2024-2031). The growing frequency of food-borne illnesses worldwide has highlighted the significance of effective food safety testing. Foodborne illnesses, product recalls, and safety mishaps have boosted demand for tested and certified foods. The growth of international food trade has necessitated comprehensive food safety testing to meet import and export regulations. Harmonization of food safety standards, along with increased cross-border food traffic, has boosted the worldwide food safety testing market. Food safety testing is now more efficient and accurate due to enhanced techniques and procedures.
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Browse in-depth TOC on the “Food Safety Testing Market”
- Pages – 198
- Tables – 96
- Figures – 76
Food Safety Testing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $30.69 Billion |
| Estimated Value by 2031 | $55.53 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.5 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Contaminants, Technology, and Food Type |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Surge of food safety testing market due to rise in food borne illnesses and beyond |
| Key Market Opportunities | Crafting dynamic consumer experiences and immersive campaigns |
| Key Market Drivers | Growing incidences of food-borne illnesses among people is propelling the global food safety testing market. |
Offering Real-Time Polymerase Chain Reaction Is Increasing the Growth of Food Safety Testing Market
The usage of PCR-based assay is increasingly driving the growth of the food safety testing market. This real-time polymerase chain reaction is a quick and affordable quantitative technique that helps in detecting both intentional and unintentional food adulterations brought on by biological contaminants by quantifying the amount of certain DNA-segments present in samples. The accuracy, efficiency, and flexibility of PCR-based assays have boosted their popularity across a wide range of food types and contaminant categories.
Increasing Popularity of Immunoassay Testing for Cost-Effective Examination of Pollutants in the Food Safety Testing Market
Immunoassay testing is rapidly growing in the global food safety market as it provides a speedy and cost-effective examination of pollutants by utilizing specialized antibody-antigen recognition abilities. Their ability to simplify the procedure, be reasonably quick, and perform several tests in the same timeframe is increasing its popularity for screening large amounts of food samples in the least amount of time. The ongoing advancement of immunoassay technologies, such as lateral flow assays and multiplexing features, promises to increase sensitivity and accuracy on a daily basis, driving their use in food safety testing.
Rapid Expansion of Business in North America Due to High Adoption of GMO Foods
North America accounts for the largest share of the global food safety testing market. Strict food safety rules, the widespread adoption of GMO foods, and an increase in contaminant illnesses are all important reasons driving market growth. The market in Europe is driven by demand from the United Kingdom and Germany. Contaminants and foodborne diseases in the UK encourage the food industry to use food safety testing technology to improve quality.
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Food Safety Market Insight
Drivers:
- Increasing cases of consuming spoiled food with different microorganisms driving the food safety testing market
- Increasing demand for food testers
- Increasing demand for clean-labeled food products that are natural and less processed
Restraints:
- High rate of food contamination incidents
- Lack of infrastructure in the food testing laboratories
- Impossible to question the use of microbiological control in a GMP or HACCP program because of insufficient or inappropriate plant conditions
Prominent Market Players in the Food Safety Testing Market
The following are the Top Food Safety Testing Companies
- Eurofins Scientific
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- SGS SA
- Bureau Veritas SA
- Intertek Group plc
- ALS Limited
- Merieux NutriSciences Corporation
- Neogen Corporation
- Romer Labs Division Holding GmbH
- AsureQuality Limited
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Key Questions Answered in Global Food Safety Testing Market Report
- What is SkyQuest’s estimated 2031 market value for the food safety testing market globally?
- Which geographical region held the biggest share of the global food safety testing market?
- What are the main restraints of the food safety testing market?
This report provides the following insights:
- Analysis of key drivers (Food borne illnesses, the rise of fast testing approaches, consumers demand for healthy and clean food options, and strict food safety laws), restraints (Increasing food poisoning incidents, increasing consumer awareness, lack of accurate results in food testing laboratories, lack of modern quality assurance techniques, and unreliable disinfection procedures), opportunities (Increase in consumer demand for secured quality food, growing awareness of food safety, technological improvements, increase of safety food standards), and challenges (Complicated and evolving regulations, high-testing cost, and the requirement for skilled workforce) influencing the growth of food safety testing market
- Market Penetration: Comprehensive information on the product offered by the top players in the food safety testing market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the food safety testing market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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