Food Safety Testing Market Growing At USD 30.1 Billion By 2025 : Grand View Research Inc.
San Francisco, 6 November 2019: The Report Food Safety Testing Market Size, Share & Trends Analysis Report By Test (Allergen Testing, Chemical & Nutritional Testing), By Application (Meat, Poultry, & Seafood Products), By Region, And Segment Forecasts, 2019 – 2025
The global food safety testing market size is expected to reach USD 30.1 billion by 2025, escalating at a CAGR of 7.7% over the forecast period, as per a new report by Grand View Research Inc. Rise in the outbreak of foodborne diseases and the enforcement of stringent regulatory norms regarding optimum quality of edible items are expected to drive the demand for product safety in the market over the projected period.
Governments and food producers have undertaken extensive efforts to improve the quality of edible products owing to health concerns and economic losses caused by contamination. In addition, the presence of authorities, such as the FDA and FSSAI, to ensure conformance to quality standards for the products, is expected to result in increased safety checks. The market for this type of safety checks is highly competitive in nature as key players compete not only with other companies that conduct tests but also with the internal analytics departments of end users and government agencies.
The food safety testing market is witnessing notable technological developments such as the usage of electrical biosensors in microbiological safety testing. This is expected to reduce the analysis time with increased accuracy in results. In addition, increasing expenditure by processing companies to ensure higher quality of edible items is expected to bode well for market growth.
The existence of inadequate regulatory infrastructure in underdeveloped countries due to limited resources and lack of restructuring of food regulatory agencies is expected to limit growth. However, the industry in Asia Pacific is expected to grow owing to notable growth of food processing sector in developing economies such as India and China and the enforcement of stringent regulations regarding product safety. Increasing awareness regarding quality checks and the examining of edible products are also expected to contribute to the market growth over the forecast period.
Access Research Report of Food Safety Testing Market @ https://www.grandviewresearch.com/industry-analysis/food-safety-testing-industry
Further key findings from the report suggest:
- Allergen segment accounted for 12.8% of the revenue share of the market in 2018 owing to its extensive usage in advanced production processes and minimize contamination risks
- Dairy & dairy products segment is expected to grow at a CAGR of 7.7% from 2019 to 2025 owing to increasing assessment of shelf-life for milk & dairy products to demonstrate compliance with statutory requirements
- The food safety testing market in Asia Pacific is expected to grow at 8.9% from 2019 to 2025.
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Grand View Research has segmented the global food safety testing market on the basis of test, end-use, and region:
Food Safety Testing Test Outlook (Revenue, USD Million, 2014 - 2025)
- Allergen Testing
- Chemical & Nutritional Testing
- Genetically Modified Organism (GMO) Testing
- Microbiological Testing
- Residues & Contamination Testing
- Others
Food Safety Testing Application Outlook (Revenue, USD Million, 2014 - 2025)
- Meat, Poultry & Seafood Products
- Dairy & Dairy Products
- Processed Food
- Beverages
- Cereals & Grains
- Others
Food Safety Testing Region Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Access Press Release of Food Safety Testing Market @ https://www.grandviewresearch.com/press-release/global-food-safety-testing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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