ITALY FOOD SAFETY TESTING MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)
Italy food safety testing market is projected to grow at a CAGR of 11.8%, during the forecasted period (2020 - 2025).
- The extensive food and stringent food safety regulations implemented by the European Union are expected to drive the Italy food safety testing market. Factors, such as the increasing standard of living and health consciousness of consumers are also driving the market growth.
- Lack of knowledge of food safety regulations among the small scale domestic manufacturers restrains the growth of the market studied. The increasing demand for processed food can be considered an opportunity in the market studied.
- Microbial testing dominates the market in this country, followed by chemical tests. The processed food segment accounts for the largest market share.
Key Market Trends
Growing Concern towards Food Safety
Growing consumer interest for food quality has propelled high technological advancements, which are, thereby, driving the food safety testing market in the country. Enhanced surveillance and detection methods have contributed to the growth of the food safety testing scenario in the country. Italian authorities have reported a number of different investigations uncovering unsafe food in 2019. The regulatory bodies in the country such as the Rapid Alert System for Food and Feed encourage testing practices during every stage of food production and processing. The food manufacturers are seeking holistic oversight over the entire value chain, imposing a robust food safety policy. Eurofins Scientific, Intertek, ALS are some of the prominent players in the Italy food safety testing market, and these players are seeking industry consolidation with their merger and acquisition activities. For instance, Intertek acquired an Italian food assurance company, Food International Trust (FIT - Italia), specializing in providing assurance services to the retail and agricultural sectors, about food quality and safety assessments.
Growth in Food and Beverage Industry
Italian food and wine are popular across the globe. The country is the largest producer, exporter, and consumer of wine in the world. Food is one of the cornerstones of Italian culture. This extensive trading of food and the stringent food safety regulations implemented by the European Union drive the growth of this market. Italy suffers from far fewer foodborne illness outbreaks per capita when compared to the United States. The scenario necessitates greater testing needs for pathogens and toxins across the increasing food and beverage sector in the country. There is a steady growth of microbial analysis in the food safety testing market of Italy. However, the Italian food safety testing market has witnessed the emerging popularity of tests like residue analysis and other confirmatory tests, especially for the organic and free-from foods, owing to the evolving preferences for such a class of food products.
Italy food safety testing market is fragmented with high growth potential. There is an increasing presence of key global players; however, the small scale and the private-label laboratories have posted a significant impact on the overall market growth. Merieux Nutrisciences witnesses a domineering presence in Italy. Active acquisitions of domestic players and the expansion of business units give the active players an added advantage in the market. The acquisition and merger followed by expansion are the major strategies adopted by the leading players in the country.
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