The rising concerns about the food borne illness, due to contamination of food with pathogens and other detrimental elements, has elevated the market growth of food safety tests globally. According to the latest report titled ‘Global Food Testing Market- Analysis and Forecast (2017-2021)’, the global food safety testing market is expected to reach a value of U.S. $ 17.7 billion by 2021, growing at a CAGR of 7.5% from 2017-2021. This growth is justified by the rise in foodborne outbreaks, advancement in testing technologies, globalization of food supply and stringent international food safety regulations. As per the data provided by the Academy of Nutrition and Dietetics (U.S.), every year one out of six Americans fall ill, 1,28,00 are hospitalized and 3,000 dies from foodborne disease.
Food safety tests are conducted to ensure that the quality and wholesomeness in the food production chain is maintained. The techniques used in testing are mainly PCR based techniques which include immunoassay, ELISA, rapid culture detection, biosensors and many others. Various new tests have also been introduced such as gluten sensitiveness, intolerance, food fraud, pathogen detection, pesticides & antibiotics and others. Over the past few years, usage of these technologies is increased due to their faster detection system, which in turn driven up the market of food safety testing.
On the basis of technology, food safety testing is segmented into traditional and rapid. At present, rapid technology is dominating the market because of its multifunctional testing options which caters time-efficient and flexible testing to its end users. Geographically, food safety testing market is segmented into North-America, Europe, Asia-Pacific(APAC) and Rest of the World (RoW). Currently, North America is leading the market with the support from the developed countries such as USA, Canada, Mexico and others. Moreover, it is expected that in the forthcoming period Asia-Pacific, which comprise of many emerging nations such as India, China, Argentina and Brazil, is going to dominate the market at the global scale owing to increasing population which will lead the government of respective countries to invest in food safety testing.
The key market players are also playing a significant role in the rapid growth of the market. Among the various strategies adopted by these players, there is an inclination toward product launch & development and partnership & collaboration. For instance, in November 2017 Eurofins Scientific acquired Spectro Analytical Labs Ltd. to expand their services in India. In the coming period it is anticipated that food safety will pull other prominent market players such as Some ALS Ltd., AsureQuality Ltd., SGS SA, Intertek Group plc., Bureau Veritas SA., Eurofins Scientific, Microbac Laboratories Inc. and Laboratory Corporations of America Holdings, among others.
BIS Research has conducted an extensive research on the food safety testing market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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