The food safety testing market size was valued at USD 19.81 billion in 2022 and is expected to be worth USD 21.25 billion in 2023. The market is projected to reach USD 36.01 billion by 2030, recording a CAGR of 7.82% during the forecast period.
Food safety testing refers to a range of tests conducted to determine the safety of a food item for human consumption. These tests have become an integral part of the food industry as customers across the world are gaining more awareness about the food safety standards and have become more cautious while buying packaged foods. Factors, such as growing incidence of foodborne diseases and growing global population are expected to augment the market growth.
COVID-19 Impact:
COVID-19 Pandemic Favored Market Growth Due to Rise in Testing of Domestic and Imported Food
The COVID-19 pandemic played a crucial role in increasing the significance of food safety among customers. The demand for food grew substantially during this period, which further increased the domestic production and import of different types of food products. This factor boosted the need for reliable food safety tests to ensure that the imported or locally produced foods did not contain any COVID-19 virus strain.
Segmentation:
Increasing Incidence of Pathogen-Related Diseases Boosts Adoption of Pathogen Tests
Based on test type, the market is classified into pathogens, genetically modified organisms, allergens, chemicals & pesticides, and others. The pathogen testing segment holds the majority of the food safety testing market share due to the growing prevalence of pathogen-related illnesses and need to decrease the incidence of food-related diseases.
Growing Consumption of Protein-Rich Foods to Fuel Testing of Poultry, Meat & Seafood
Based on food tested, the market is segmented into meat, poultry & seafood, dairy products, processed foods, fruits & vegetables, and others. The meat, poultry & seafood segment is expected to capture the largest market share as the global consumption of protein-rich foods is increasing every year.
Conventional Tests Gain Traction Due to Their Higher Accuracy
Based on technology, the market is classified into rapid and conventional. The conventional test segment holds a larger market share as this test offers higher accuracy compared to the rapid test.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers quantitative as well as qualitative insights regarding the market. It also offers information on the latest market trends and top industry developments, such as partnerships, new product launches, and mergers. It also analyzes the impact of the COVID-19 pandemic on the market and the regulatory scenario in major countries.
Drivers and Restraints:
Increasing Cases of Food Adulteration to Boost Product Use
The cases of food adulteration have skyrocketed across the world in recent years. This factor has increased the incidence of food-related illnesses as adulterated food contain certain chemicals and ingredients that are not suitable for human consumption. This scenario has prompted governments to introduce stricter food safety regulations, which will also catalyze the production of food safety testing solutions.
However, lack of trained manpower to operate complex food safety testing equipment can hinder the food safety testing market growth.
Regional Insights:
North America to Dominate Global Market Due to Rising Food Imports
North America is expected to dominate the global market as countries, such as the U.S. are among the top importers of food in the world. The increased volume of food imports has also boosted the need for stronger food safety rules and laws, which will amplify the use of food safety testing solutions.
Europe might showcase stable growth in the coming years due to the growing cases of acute poisoning from consuming foods containing excessive pesticide residues and harmful drugs.
Competitive Landscape:
Leading Companies to Focus On New Product Launches and Mergers to Remain Competitive
Some of the key players operating in the market include Eurofins Scientific S.E., Intertek Group, Bureau Veritas, SGS S.A., and ALS Ltd. These firms are launching new and advanced food safety testing products in the market to enhance their brand value. They are also acquiring smaller firms to expand their footprint in the global market.
Notable Industry Development:
February 2023: ImagoAI, an A.I. food-tech company, launched a new and affordable rapid mycotoxin test. The test claims to offer results in 30 seconds for corn silage and corn mycotoxins.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- ALS Limited (Australia)
- AsureQuality Ltd (New Zealand)
- Bio-Rad Laboratories, Inc. (U.S.)
- Bureau Veritas (France)
- Deibel Laboratories (U.S.)
- Eurofins Scientific SE (Luxembourg)
- Intertek Group PLC Solutions (U.K.)
- Mérieux NutriSciences (U.S.)
- SGS S.A. (Switzerland)
- Thermo Fisher Scientific Inc. (U.S.)
