Westminster, CO -- (SBWIRE) -- 05/22/2013 -- Trends in industrialization and increasing living standards make developing regions ripe for fast growth, outpacing the global average. This includes Asia, Africa/Mideast, Eastern Europe and Central and South America. Joysa Winter, writer for NewHope360.com discussed how global sales are expected to accelerate, responding to increasingly strict food safety regulations worldwide. World demand for food safety products including disinfection and diagnostic products, smart labels and tags, and software and tracking systems is projected to rise 8.1 percent per year to $13.6 billion in 2014, according to market research analysts The Freedonia Group, of Cleveland.
Global sales are expected to accelerate from the pace seen over the 1999-2009 period, which saw average annual growth of 7.4 percent. "Some of the best opportunities for food safety products will be found in the Asia/Pacific region, which will account for two-fifths of aggregate market value gains between 2009 and 2014. But the U.S. is by far the world's biggest national user of food-safety products, accounting for 23 percent of total demand,” explained analyst Pauline Tung, co-author of the report World Food Safety Products.
"China will continue to see some of the fastest demand growth, due to mounting pressure on the part of consumers, producers and regulators to ensure the safety of the food supply," Tung said. The largest segment in food safety is disinfection products, which will continue to account for the greatest bulk in sales. While demand for disinfectants is relatively mature, the rising number of reported foodborne outbreaks and food product recalls will continue to push sales. A trend toward more rapid diagnostic tests, which are more expensive than conventional testing systems, will also generate sales.
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Marc Simony, Director of Marketing