Food Safety Testing Market: Introduction
A recent study published by Transparency Market Research on the food safety testing market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global food safety testing market was valued at US$ 18.2 Bn in 2020, which is estimated to rise at a CAGR of 8.1 % to reach US$ 39.8 Bn by 2030.
Testing Requirements for Export of Food Products Propelling Market Demand
With the ease of business relations between intercontinental countries, the food sector has been flourishing, and increase in import and export activities has been observed. Globalization of the food sector and food supply chain has been resulting in increased food safety testing practices. European and North American countries are prominent importers of raw materials for food production. Since the regulations of these countries are stringent, exporters from other regions are obliged to test their food products in order to be able to export them. This increase in import/export activities are driving the growth of the food safety testing market.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=312
Improved Food Safety Regulations Boosting Market Growth
Considering the increased rate of urbanization and industrialization in MEA and Asian countries, big firms and companies in the food testing market are penetrating in emerging markets. The increased M&A activities in the food testing market have resulted in expansions, which are subsequently boosting the market growth. Due to increasing demand for safer and cleaner food products in the global market by consumers around the world, many governments and authorities are forced to apply stringent and harsh regulations on food producers, processors, importers, and exporters. In order to avoid any penalty by authorities and to oblige to stringent regulations, many key players in the market are now getting their food products tested by the authorized food testing companies. Seven new seven rules were finalized by FSMA in 2015 and were implemented in 2017 for importing food.
More Trending Reports
Cost and Time-effective Customized Testing Services Driving Market Growth
Food companies require sample-specific tests and follow requirements, providing performance that is time-effective. The industry has acknowledged the need for tailored research in light of these factors. Several analytical laboratories have acknowledged the need for customized testing services and the provision of testing services for various customer requirements. It helps companies slash testing expenses and save time. It also lets customer obtain reliable data and theoretical insights that establish a long-term partnership between analytical laboratories and businesses.
Request Covid19 analysis on this market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=312
High Costs of Food Testing Services and Equipment Hindering Growth
The food & beverage industry is highly fragmented with the presence of numerous large, medium, and small-scale manufacturers. Since the cost of the few food testing services and instruments is essentially high, some of the small-scale food manufacturers cannot afford these tests. Moreover, food fraud incidents are concentrated at this level due to poor implementation of rules and regulations. The poor governing of rules and regulations, and the lack of funding by governments are likely to hinder the growth of the food testing market. Nonetheless, there is a considerable high demand for food with “free-from” label. For instance, gluten-free beetroot powder is an instant hit in certain sections of consumers. Furthermore, fanning the trend are initiatives such as ServSafe, emphasizing the importance of safety and quality of food products.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=312<ype=S
Culinary Tourism
With the COVID-19 outbreak limiting the number of traveling and dining opportunities for individuals, many opt to experience the fun of a restaurant or destination at the comfort of their homes. Ready-to-drink beverages are being focused upon to enable the consumers to feel the vibe of a particular destination. This aspect will churn exponential growth.
Immunity-Boosting Items
A good immunity can help individuals tackle COVID-19 with ease. Many consumers are switching to immunity-boosting food and beverage items for improving their resistance against further infections. Many well-established players are paying attention on launching immunity-rich food and beverage products. This factor will attract promising revenues.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
