by The global food safety products and testing market is estimated to be valued at US$ 859.1 Million in 2023 and is expected to reach a market value of US$ (incorporate given market value for 2023) Bn or Mn by 2023, exhibiting a CAGR of 9.6% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The global food safety products and testing market refer to the range of products and services that ensure the safety and quality of food products. These products and testing methods are crucial in order to prevent foodborne illnesses and maintain the overall quality of food. With the growing concerns over food safety and the increasing awareness among consumers about the risks associated with contaminated food, the demand for food safety products and testing is expected to grow significantly. The market comprises various products including disinfectants, food testing kits, sensory analysis, and microbiology testing, among others. These products play a vital role in maintaining the safety and quality standards of food products, thereby driving market growth.
Market Key Trends:
One key trend in the global food safety products and testing market is the increasing adoption of advanced technology for food testing. This includes the use of rapid testing methods, such as PCR and immunochromatography, which offer quick and accurate results. These advanced technologies help in detecting various contaminants, pathogens, and allergens in food products, ensuring their safety for consumption. Additionally, the rising demand for on-site food testing solutions is also driving the market. These portable testing solutions allow food manufacturers and retailers to conduct tests in real-time, minimizing the risk of foodborne illnesses and providing timely results. The adoption of advanced technology and on
Segment Analysis:
The food safety products and testing market can be segmented based on the type of product and the application it is used for. In terms of products, the market can be divided into testing kits, disposable gloves, disinfectants, smart labels, and others. Among these, the testing kits segment dominates the market and is expected to continue its dominance over the forecast period. This can be attributed to the increasing demand for rapid and accurate testing methods for food safety. Testing kits offer convenience, quick results, and cost-effectiveness, making them highly preferred in the market. Additionally, advancements in technology have led to the development of innovative testing kits that can detect a wide range of contaminants, including pathogens, chemicals, and GMOs, further driving their demand.
Key Takeaways:
The Global Food Safety Products And Testing Market Demand is expected to witness high growth, exhibiting a CAGR of 9.6% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, there is a growing awareness among consumers about the importance of food safety, resulting in increased demand for food safety products and testing. Additionally, stringent regulations imposed by various government bodies and food governing associations regarding food safety and quality are driving the market growth. Moreover, the rise in foodborne illnesses and outbreaks has created a need for effective testing methods, further fueling the market growth.
In terms of regional analysis, North America is the fastest-growing and dominating region in the food safety products and testing market. This can be attributed to the presence of well-established food safety regulations, increasing consumer awareness, and the adoption of advanced testing technologies. Europe is also a significant market, driven by strict food safety regulations and a high demand for organic and premium food products. Asia Pacific is expected to witness significant growth in the coming years, driven by the rapid expansion of the food processing industry and increasing consumer concerns about food safety.
Key players operating in the food safety products and testing market include Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited, Asurequality Limited, Bio-Rad Laboratories, Inc., and Bureau Veritas SA. These players focus on strategies such as mergers and acquisitions, partnerships, and product innovations to strengthen their market position and cater to the growing demand for food safety products and testing.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
