Spain Food Safety Testing Market - Trends, Growth and Forecast (2018 - 2023)
Spain Food Safety Testing Market Insights
The Spain food safety testing market is expected to register a CAGR of 7.02% during the forecast period (2018–2023). Spain is an agricultural powerhouse and is producing around 50% of Europe’s fresh fruits and vegetables. The quality and safety of the fresh produce is of utmost importance, especially in the export markets. Moreover, Spain has a modern food processing sector that pays special attention to the quality, safety, and traceability of the food products it produces.
Improving Socio-economic Scenario Necessitate the Robust Food Safety Testing Infrastructure
Domestic food expenditure in Spain is slowly recovering. The food industry has successfully neutralized domestic demands by increasing exports. The growing number of inbound tourists has also fueled the Spain food & drink sector. Such market tends call for robust food safety testing infrastructure in Spain, in order to become a recognized player in the export of safe and quality-assured food products.
Regulatory Support Driving the Market Growth
The Ministry of Agriculture and Fisheries, Food, and Environment (MAPAMA) in Spain is prioritizing its work in traceability of food fraud, by adapting their quality standards to new technologies and recent developments in the field of food analysis.
Application in the Processed Food Industry Likely to Register Highest Growth Rate
The Spain food safety testing market is classified by contaminant type, food type, and technology. The processed food industry is rapidly emerging in the country, owing to the improvement in domestic demand and rapidly rising exports, especially to the countries in Asia-Pacific and the Middle East. In line with this trend, the processed food testing segment is expected to register the highest CAGR of 7.31% during the forecast period (2018 - 2023). Based on technology type, the traditional food safety testingmarket holds a considerable share in the market, as compared to the rapid testing segment, as it is cost-effective, leading to high preference by most companies.
November, 2016: NSF Authentechnologies launched a new Client Portal, which aims to provide a valuable service to the clients.
May, 2017: SGS developed Zero Discharge Holistic Solution for chemical and environmental regulations management across the supply chain of any industry.
The key players include: ALS LIMITED, BUREAU VERITAS, DNV, ECOLAB, EUROFINS, INTERTEK, NSF INTERNATIONAL, SGS GROUP, TUV SUD, UL, amongst others.
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