Food Safety Testing Market by Application and Geography - Forecast and Analysis 2020-2024
Global Food Safety Testing Market: About this market
Technavio’s food safety testing market analysis considers sales from meat and poultry, fruits and vegetables, processed foods, dairy, and other applications. Our report also provides a detailed analysis of the market in Asia, Europe, North America, and ROW. In 2019, the meat and poultry segment had a significant market share, and this trend is expected to continue over the forecast period. Frequent recalls and safety issues make meat and poultry as one of the highest-risk categories which necessitates food safety testing. This factor will play a significant role in the meat and poultry segment to maintain its market position. Also, our global food safety testing market report looks at factors such as increase in the involvement of government agencies, growing importance of food safety standards, and rising demand for analytical instruments in food and beverage industries. However, lack of infrastructure and underutilization of resources in developing countries, challenges with changing food regulations, and issues related to sample collection may hamper the growth of the food safety testing industry over the forecast period.
Global Food Safety Testing Market: Overview
Growing importance of food safety standards
The increasing need for nutritious food has given rise to various food safety standards. For instance, IFS Food is a food safety standard containing specific compliance requirements related to customer specifications, which helps end-users to maximize transparency, reduce costs, and optimize resources. These standards ensure the implementation of validated and controlled manufacturing processes that minimize risks and augmenting the manufacturer’s reputation by producing high-quality and safe products. This importance of food safety standards will lead to the expansion of the global food safety testing market at a CAGR of almost 8% during the forecast period.
Increasing applications of microorganisms
The application of microorganisms in the production of various products, such as food and beverages, food additives and supplements, and microbial enzymes, is increasing. Microorganisms such as yeasts are used to produce beverages, such as beer, wine, whisky, brandy, and rum. Microorganisms help in the commercial production of various enzymes and organic acids used in the food and beverage industry. The production of these commercial products from microorganisms is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global food safety testing market during the forecast period 2020-2024, click here.
With the presence of several major players, the global food safety testing market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading food safety testing vendors, that include ALS Ltd., AsureQuality, Bio-Rad Laboratories Inc., Bureau Veritas, Charles River Laboratories International Inc., Eurofins Scientific Group, Intertek Group Plc, NEOGEN Corp., QIAGEN NV, and Thermo Fisher Scientific Inc.
Also, the food safety testing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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