Food Safety Testing Market to Grow at USD 55.53 Billion by 2031 Driven by Rising Foodborne Diseases and Stringent International Trade Regulations | SkyQuest Technology

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Jul 26, 2024, 10:45 ET

WESTFORD, Mass., July 26, 2024 /PRNewswire/ -- According to SkyQuest, the global Food Safety Testing Market size was valued at USD 28.5 Billion in 2022 and is poised to grow from USD 30.69 Billion in 2023 to USD 55.53 Billion by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).

In today's world the food safety and testing market plays an important role in securing public health by identifying and avoiding incidences of pollution and infections through poisons, chemical residues, allergies, and other harmful items in the food. In recent times, the rising occurrence of food borne diseases has highlighted the necessity of a complete food safety testing. Moreover, factors like food borne diseases, product recalls, and safety cases have amplified the demand for tested and certified foods. The implementation of international food trade has also improved the food safety testing process to meet the import and export protocols. Improvement in the testing methods have also positively influenced the efficiency and accuracy of food safety testing. The market players in the food safety and testing industry are at an advantage due to the development of the international food trade. This is because with the expansion of cross-border operations it has become a necessity to conduct extensive test to ensure compliance with export and import rules, thus boosting the market. With the help of microbiological technologies, chemical analysis, and physical testing along with easy access to various food testing kits the companies can provide better food safety.

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Enterprise Asset Management 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	Offerings, Contaminants, Technology, Food Type, and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights	Development of portable food testing equipment
Key Market Opportunities	Growing pathogen related illness among consumers increasing popularity of pathogens
Key Market Drivers	Higher consumption of protein-rich food to increase testing in meat, poultry, and seafood

Segments covered in Food Safety Testing Market are as follows:

Offering

Reagents & Consumables, Instruments, and Services

 Contaminants

Pathogens (E.Coli, Salmonella, Campylobacter, Listeria, Others), Pesticides, GMOs, Mycotoxin, Allergens, Heavy metals, Others

Technology

Traditional, Rapid (Convenience-based, Polymerase Chain Reaction (PCR), Immunoassay), and Chromatography & Spectrometry

Food Type

Meat Poultry & Seafood, Dairy Products, Processed Food, Fruits & Vegetables, Cereals & Grains, Others

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Advent of Innovative Portable Food Testing Equipment with Better Accuracy to Drive Market Growth

In the last few years, the demand for food safety testing devices with better accuracy and portability has significantly increased among customers. Traditionally, the evaluation of adulterated food products is sent to food testing laboratories, which can be expensive as well as time consuming. Due to such difficulties, governments and private sectors have started investing in technological development supporting the emergence of the new portable testing devices. These devices have the ability to significantly reduce the overall expense of food testing. Handheld devices can analyze the samples of food available on-site and avoid the necessity of transporting it to a quality testing lab. Furthermore, with the help of ultraviolet, infrared, and other amalgamation of sensors these devices can easily identify contaminants, allergens, and adulterants in food products.

Increasing Occurrence of Food Fraud & Adulteration to Boost Demand for Food Safety Testing

The food safety violations and adulterations have increased immensely worldwide. The journey of food products until it reaches the store shelves has become extremely difficult due to the explosion of the food value chain. Such complexities have given rise to certain uncertainties in the production of the food, resulting in consumers questioning about the products label and the ingredients in it, increasing the demand for food safety testing. As per the Consumer Guidance Society of India, a non-profit organization, just 21% of the milk samples that have been collected in Maharashtra fulfilled the standards set by the FSSAI. Issues like these are influencing the government bodies to strengthen the regulations on food safety. This is causing the major market players in the food processing business to request for better monitoring of food safety testing. The food testing organizations are also using innovative technologies and scientific expertise to protect the integrity of the food supply chain and secure customers from any dangerous or adulterated food items, which is developing new opportunities for the food testing market.

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Heightened Consumer Alertness on Food Contamination to Increase the Focus on Food Safety Testing

The global food safety testing market has every opportunity to grow, especially due to the rising public awareness about food contamination and technological developments in testing. This sector is extremely crucial for securing public health as they have the responsibility of recognizing and eradicating any harmful substance from food items. Consumers are also becoming more conscious about contamination, which is increasing the focus on food safety. This has resulted in the requirement for strict hygiene practices all over the supply chain. With the growing demand for organic items, food testing organizations are also trying various innovations to remove GMOs and other contaminants from the products to meet consumer expectations with efficient and affordable testing solutions.

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About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: [email protected]
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SOURCE SkyQuest Technology