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Global Food Safety Testing Market to Grow at a CAGR of 8% over the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Food Safety Testing Market Report and Forecast 2022-2027’, the global food safety testing market size was around USD 19 billion in 2020. The industry is further expected to grow at a CAGR of 8% between 2022 and 2027 to attain a value of USD 31 billion by 2027.

The global food safety testing market is being driven by the rising demand for safer, clean labelled, and certified food products. The growing consumer awareness regarding health and food safety is driving this change. North America dominates the global food safety testing industry, accounting for a significant share in the market, closely followed by Europe, owing to the implementation of stringent regulations regarding food safety, standards, and quality profile in both the regions. Further, the increased adoption of such regulations in developing economies due to rising consumer awareness is further aiding the industry growth in these regions, thus, contributing to the growth of the overall market.

To fulfill the growing demand for certified food products, food manufacturers and major players are increasingly focusing on obtaining certification by trusted organisations. Firms are aggressively investing and collaborating with other organisations to achieve the same. In March 2021, Neogen Corporation (NASDAQ: NEOG), a leading player in the industry, announced the acquisition of the food safety assets of Australia-based Cell BioSciences, a major supplier of food safety and industrial microbiology products, owing to which the company will now have a direct sales presence across Australasia for its entire portfolio, including food safety, animal safety, and animal genomics, further expanding its global reach. Moreover, the growing demand for organic food products among consumers is leading manufacturers to obtain certification for the same to win their trust. In November 2020, Bureau Veritas SA (OTCMKTS: BVRDF), another key player in the industry, announced the completion of the acquisition of Italy-based Q Certificazioni S.r.l., an independent certification body specialising in organic certification, thus, ultimately entering organic food certification market in Italy. Such developments are expected to aid the growth of the global food safety testing industry over the forecast period.

Market Breakup by Testing Method, Technology, Food Type, and Regions:

  • By testing methods, the global food safety testing industry can be divided into chemical testing, physical testing, nutritional testing, food sensory analysis, microbiological testing, and allergen testing, among others.
  • On the basis of technology, the industry can be bifurcated into traditional and rapid technology.
  • The industry, based on the type of food being tested, can be categorised into dairy products, fruits and vegetables, seafood, meat and poultry, processed food, and cereals and grains, among others.
  • Region-wise, the global food safety testing market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global food safety testing market is being driven by the growing health awareness among consumers and increasing demand for safe and hygienic food products. 
  • The growing demand for packaged and convenient food products is aiding the industry further. 
  • Implementation of stringent regulations to ensure food safety by leading food safety organisations is providing a boost to the market.
  • The growing global population and rising disposable incomes, coupled with increasing demand for premium quality products, is providing further impetus to the industry for its growth. 
  • The growing prevalence of foodborne diseases and food poisoning cases is further contributing to the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global food safety testing market for the periods (2017-2021) and (2022-2027). 
  • The report offers historical (2017-2021) and forecast (2022-2027) market information for the testing method, technology, food type, and regional markets of the global food safety testing industry.
  • It also provides an assessment of the market based on the Porter’s Five Forces model along with a SWOT and value chain analysis.

The major players in the global food safety testing market are SGS SA., Bureau Veritas S. A., Eurofins Scientific, Intertek Group plc, ALS Limited, NSF International, Neogen Corporation, and AsureQuality Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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