CHICAGO, January 15, 2019 /PRNewswire/ --
According to the new market research report "Food Safety Testing Market by Target Tested (Pathogens, Pesticides, GMOs, Mycotoxin, and Allergens), Technology (Traditional and Rapid), Food Tested (Meat, Poultry, Seafood, Dairy, Processed Foods, and Fruits & Vegetables), and Region-Global Forecast to 2023", published by MarketsandMarkets™, the Food Safety Testing Market is projected to grow from USD 17.0 billion in 2018 to USD 24.6 billion by 2023, at a CAGR of 7.7% during the forecast period. The major factor driving the food safety testing market is the increase in global outbreaks of foodborne illnesses. Further, stringent food safety regulations, availability of advanced rapid technology, increase in demand for convenience and packaged food products, increase in outbreaks of chemical contamination in food processing industries, and rise in consumer awareness about food safety is practices is expected to drive the market.
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The fruits & vegetables segment is projected to grow at the highest CAGR in the global food safety testing market during the forecast period.
The fruits & vegetables segment is projected to be the fastest-growing due to easy susceptibility to microbial and other contaminations, along with the growing number of tests for fruit & vegetables (as they are also largely used as ingredients). Furthermore, high susceptibility to contamination of fruit & vegetables by different types of pathogens, pesticides, and GMOs are also expected to drive the growth.
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The GMO segment, by target tested, is projected to grow at the highest rate during the forecast period.
GMO testing is projected to grow at the highest CAGR during the forecast period. GMOs used for the growth of genetically modified food have several functional benefits, such as enhanced taste & quality, reduced maturation time, increased nutrient content and yield & stress tolerance, and improved resistance to diseases, pests, and herbicides. Increase in consumer awareness for genetically modified organisms in food, stringent regulatory restrictions on GMO, and efficient technological trends are expected to drive the global market for GMO testing.
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Europe is projected to account for the largest market share during the forecast period.
Europe is estimated to account for the largest share of the market in 2018. The market in this region is primarily driven by growth in the German and UK markets. The market in this region is driven by European food policies that have been extensively emphasized by the National Reference Laboratories (NRLs) and the European Reference Laboratories (EURLs) to maintain food standards and protect consumer health. The market is further fueled by the presence of major food safety testing companies such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), and Intertek Group plc (UK), who are continuously investing and collaborating for the development of better and faster testing technologies to aid conformity to various food safety regulations.
Major vendors in the food safety testing market include SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc. (UK), Bureau Veritas (France), ALS Limited (Australia), Merieux (US), TÜV SÜD (Germany), TÜV Nord Group (Germany), AsureQuality (New Zealand), Microbac Laboratories (US), FoodChain ID (US), Romer Labs (Austria), Symbio Laboratories (Australia), and Neogen (US).
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