Food Safety Testing Market Scope & Overview
The Food Safety Testing Market was valued at USD 21.07 billion in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.1% to reach USD 39.30 billion by 2030.
This market assessment highlights the increasing importance of Food Safety Testing Market in ensuring the well-being of consumers. With growing concerns about foodborne illnesses and contamination, the demand for robust testing methods has witnessed significant growth.
The projected CAGR of 8.1% reflects the industry's potential for expansion and the increasing adoption of advanced technologies in food safety testing. As regulatory bodies tighten their standards and consumers become more conscious of the quality and safety of the food they consume, the market is expected to experience sustained growth.
The food safety testing market encompasses various segments, including pathogen testing, GMO testing, allergen testing, and pesticide residue testing. These segments play a crucial role in ensuring the safety and quality of food products throughout the supply chain.
Furthermore, the market is driven by factors such as globalization of the food industry, stringent regulations, and the increasing number of food recalls. These factors have heightened the need for comprehensive testing solutions that can detect potential hazards and prevent outbreaks of foodborne illnesses.
In addition, technological advancements in testing methods, such as rapid testing kits and molecular diagnostics, have revolutionized the food safety testing landscape. These innovations offer faster and more accurate results, enabling food manufacturers and regulatory bodies to make informed decisions and take prompt action when necessary.
The food safety testing market is highly competitive, with key players investing in research and development to introduce novel testing solutions. Collaborations and partnerships between industry players and regulatory bodies are also on the rise, further driving the market's growth.
In conclusion, the food safety testing market is poised for substantial growth in the coming years. The increasing awareness about food safety, coupled with advancements in testing technologies, will continue to drive the demand for reliable and efficient testing methods. As a result, the market is expected to witness significant expansion and attract more investments from both public and private sectors to ensure the highest standards of food safety worldwide.
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Major Key Players Included are:
Eurofins Scientific SE, Laboratory Corp. of America Holdings, Asurequality Limited, Intertek Group Plc, Bio-Rad Laboratories, Inc., Bureau Veritas SA, Thermo Fisher Scientific, Inc., Scientific Analysis Laboratories Limited, ALS Limited, SGS SA.
Market Segmentation & Sub-segmentation included are:
By Food Tested:
l Meat & meat product
l Dairy & dairy product
l Cereals, grains, & pulses
l Processed food
l Others
By target tested:
l Pathogen
l Genetically modified organism (GMO)
l Chemical & toxin
l Others
By Technology:
l Agar culturing
l PCR-based assay
l Immunoassay-based
l Others
Table of Contents
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
4.1.COVID-19 Impact Analysis
4.2.Impact of Ukraine- Russia war
4.3.Impact of Ongoing Recession on Major Economies
5.Value Chain Analysis
6.Porter’s 5 Forces Model
7.PEST Analysis
8.Food Safety Testing market segmentation, target testing:
9.Food Safety Testing market segmentation, by food testing:
10.Food Safety Testing market, by Technology
11.Food Safety Testing market, by region/ country
12.Company Profiles
13.Competitive Landscape
14.Conclusion
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