Global Food Safety Testing Market to Reach $24.4 Billion by 2026

SAN FRANCISCO, March 21, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Food Safety Testing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 16; Released: February 2022
Executive Pool: 7354
Companies: 68 - Players covered include ALS Limited; Bureau Veritas S.A.; DTS Food Assurance; Eurofins Scientific; FoodChain ID Testing; Intertek Group PLC; Microbac Laboratories, Inc.; Neogen Corporation; Romer Labs, Inc.; SGS SA; 3M Company; Biolog, Inc.; Charm Sciences, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Test Type (Microbiological Testing, Residues & Contamination Testing, Chemical & Nutritional Testing, Allergen Testing, GMO Testing, Other Test Types); Technology (Rapid, Traditional); Application (Meat, Poultry, & Seafood Products; Processed Food; Dairy & Dairy Products; Beverages; Cereals & Grains; Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Food Safety Testing Market to Reach $24.4 Billion by 2026
Food safety testing assists in maintaining quality of food products, in terms of their appearance, ingredients and taste. Rising concerns over food and water safety and tightening environmental regulations are raising the need for testing contaminants, thereby generating strong demand for food safety diagnostics. The need to prevent food contamination and reduced incidence of foodborne illnesses is a major driving force for market growth. Lack of proper handling measures, inappropriate storage conditions and under cooking are major reasons for contamination of food products. This coupled with the growing need to adopt quality measures in preserved foods, dried processed products, bakery foods, ready-to-eat products and infant foods is fueling growth. The expanding processed foods industry due to increase in disposable incomes and busy lifestyles, growing food and beverage industry, and strong uptick seen in the foodservice industry are enhancing focus onto food safety testing.

Amid the COVID-19 crisis, the global market for Food Safety Testing estimated at US$19.1 Billion in the year 2022, is projected to reach a revised size of US$24.4 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Microbiological Testing, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$7.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residues & Contamination Testing segment is readjusted to a revised 6% CAGR for the next 7-year period. The microbiological testing method makes use of molecular, chemical, biological and biochemical products, is utilized for detection of microorganisms in various food products. Rapid microbiological testing is increasingly finding application in the food industry, as food companies, disillusioned with existing quality control methods, resort to automated and rapid tests. Residues & contamination testing is another major category, and benefits from its ability to provide extensive quality and safety checks for detecting over-usage of chemicals like herbicides and pesticides. With the demand rising for checking contamination of poultry and meat products, the market for residues and contamination testing is witnessing growth.

The U.S. Market is Estimated at $4 Billion in 2022, While China is Forecast to Reach $1.6 Billion by 2026
The Food Safety Testing market in the U.S. is estimated at US$4 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR. Global market for food safety testing is led by developed economies such as Europe and North America. The continuous rise in incidence of food contamination, strict regulations pertaining to food safety and access to advanced food testing labs are all contributing to the leadership of developed economies in the market. Developed economies are also making enormous investments into developing advanced food safety testing technologies. Rapidly changing international food trade policies, increased need to comply with various food safety regulations, and the need to prevent outbreak of foodborne illnesses and other food-associated threats are driving food companies in developing nations to adopt measures as per food safety and trade regulations of major importing nations.

Chemical & Nutritional Testing Segment to Reach $4.2 Billion by 2026
Chemical contaminants or pathogens are emerging as leading causes of foodborne illnesses. The adoption of stringent food safety regulations in various countries aimed at restricting the presence of chemical contaminants ensures steady growth opportunities in the segment. In the global Chemical & Nutritional Testing segment, USA, Canada, Japan, China and Europe will drive the 4.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.6 Billion will reach a projected size of US$3.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$318 Million by the year 2026, while Latin America will expand at a 5.7% CAGR through the analysis period.  

Stringent Regulations Set the Tone for Growth
Globally, increasingly stringent regulations are being adopted for ensuring safety of foods and beverages, which is in turn fostering the demand for food safety testing products. In addition, the participation of the private sector has also been rising. The supportive regulatory developments are progressively contributing to the growth in food safety testing for chemical residues, disease causing organisms and other pathogenic materials. With an increase in the number of countries adopting appropriate regulatory measures in food-safety testing, remarkable growth is anticipated for the near future in this front. Strict regulatory norms, especially for pathogen testing has boosted the food diagnostics sector in the global food industry. Supply chain inefficiencies, growing manufacturers' efforts to increase shelf-life of food products to reduce wastage, and growing health awareness among consumers are driving demand for rapid food safety diagnostic procedures.

Various food safety testing processes, products, and equipment are available in the market that are used for detecting microorganisms (pathogens), pesticide and Genetically Modified Organisms (GMOs). Pathogens such as E.coli, Listeria, Salmonella and several others are linked to various food borne illnesses affecting millions of people across the world. The incidence of food-borne diseases or infections caused by bacteria continues to rise due to changing consumer lifestyles, food production economics, and changing demographics dominated by an aging population base. Pesticide testing is aimed at detecting pesticide and other chemical residues in food products. Unchecked consumption of pesticide often leads to serious illness and could sometime turn to be fatal.

EU Directives on food safety and regulations of the U.S. Food Safety and Inspection Service (FSIS) are aimed at preventing food contamination, specifically of high-risk products such as meat. For instance, Listeria regulation is stringent in both Europe and the US. While the US follows a zero tolerance policy pertaining to the presence of Listeria monocytogenes in RTE food products, the EU regulations allow upto 100 cfu/g in RTE foods at the end of its shelf life. However, there exists a need for standardization of food safety regulations to ensure improved quality control in the processing and supply of food products, and also in minimizing the risk of outbreaks and contamination. More

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