Food safety testing comprises of scanning edibles for bacterial, chemicals, and other ailment causing agents. Main targets are Pathogens, Chemicals and genetically modified organisms (GMO).
Global food safety testing market size was estimated in 2017 at USD 13,144 Million and will soar upto USD 23,204 Million by 2025, registering the CAGR to be 7.3% as a forecast for the period 2018-2025.
Two vital forces holding the pilot seat in determining growth in global food safety testing market size are “implementation of food safety regulations” in developed economies and “Stringent food safety regulations” in developing countries.“
Trends influencing the food safety testing market size”
New Government norms on GMO labeling will surely add to rake up the market size of food safety testing. With United States ruling the charts, 175 million hectares of GMO are being grown in 25+ countries.
New norm to put the list of GMO’s of a product in public domain will be introducing new growth opportunities in time bracket 2018-2025.
Due to the cut throat competition among food producers, food debasement through adulteration, pesticides, artificial enhancers and certificates is also increasing in unbounded manner and opening new heights in food safety testing market size.
Rapid urbanisation and change in lifestyle leading to alienation of chunk population towards ready to serve restaurants are also fuelling the growth in food safety testing market size.
Awareness among the population through education and social media about the regulations, ill-practices, contaminants, adulterants in food and food production is also pushing the urge for maximum safety of edibles.
“Food safety market trends”
Taking food types into account, Meatz poultry and seafood shares the substantial amount of market safety shares during the forecast period.
On the basis of type of testing, GMO testing has been serving the highest revenue growth in the forecast period. Awareness among the community about GMOs in edibles is pumping the share growth.
Taking regional shares in consideration, North America is Chart-topper contributing 2/5th of global food safety testing industry. Sheer biological techniques such as RT-PCR or quantitative PCR can certainly advance the growth in food safety testing market share.
Asia Pacific will see the soar during forecast period and this market growth will be powered by rapid increase in F&B industry in countries like China,India,Japan and Thailand.
Enormous tilt towards processed food, meat products and urbanised lifestyle will contribute and drive the growth of food testing market size.