Food Safety Testing Market to Post an 8.9% CAGR During the Forecast Tenure 2017-2025

Food Safety Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025


Albany, NY -- (SBWire) -- 10/02/2018 --The global food safety testing market has witnessed impressive growth over the last few years due to rising incidence of food contamination there is a growing demand for food safety testing by food manufacturers. Owing to increasing awareness about foodborne diseases and various technologically advanced techniques and equipment deployed for food safety testing, the market for food safety testing has been treading along a healthy growth path over the past few years and the market is expected to continue to exhibit strong growth over the next few years as well. The vast expansion of the global food and beverages industry, coupled with the growth of the food service industry, has also been a key factor driving the growth of the global food safety testing market.

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Transparency Market Research estimates that the revenue generated from food safety testing will value at US$658.5 mn by the end of 2017. The market is expected to exhibit a CAGR of 8.9% from 2017 to 2025, rising to a valuation of US$1304.5 mn by the end of 2025.

In terms of contaminants, the report segments the global food safety testing market into pathogens, genetically modified organisms, chemicals, and toxins. Of these, the segment of pathogens is estimated to account for a massive 42.5% of the global market in 2017. The segment is expected to witness promising growth prospects over the report's forecast period chiefly owing to value the increasing demand for testing bacteria such as salmonella and E.coli in food products. Increasing incidences of food contamination-related illnesses is the key factor driving this trend.

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The segment of the genetically modified organisms segment is also anticipated to exhibit promising growth over the report's forecast period, charting a CAGR of 8.9% in terms of value.

Rising incidences of food contamination, technologically highly advanced food testing laboratories, and stringent regulations related to food safety in most countries in these regions contribute to the strong positions of North America and Europe in the global food testing safety market. While Europe holds the top spot in the global food safety testing market, the most promising growth rate is expected to be seen in the APAC region over the report's forecast period. APAC market is expected to exhibit a promising CAGR of 8.6%, attributed chiefly to the growing food trade in this region. Furthermore, companies are focusing on making major investments in R&D activities, which is further driving growth of the food safety testing sector in the region.

Some of the leading companies operating in the global food safety testing market are Bio-Rad Laboratories, Inc., Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited. Laboratory Corp. of America Holdings, AsureQuality Limited, Bureau Veritas SA, and Scientific Analysis Laboratories Limited.

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Rohit Bhisey
AVP Marketing
Transparency Market Research

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