Food Safety Testing System Market Size to Reach USD 24.67 Billion by 2028 | Global Analysis, Statistics, Food Safety Testing System Industry Revenue, Demand and Trend Analysis Research Report by Emergen Research
Vancouver, British Columbia, Feb. 03, 2021 (GLOBE NEWSWIRE) — The global Food Safety Testing System Market is projected to reach a market size of USD 24.67 Billion in 2028 and register a substantially high revenue growth rate of 22.4%, during the eight-year forecast period, according to latest analysis by Emergen Research. The need for security testing for food items is expected to drive higher demand for packaged and processed food in developing and emerging economies due to factors such as massive change in the lifestyles and the increasing popularity of fast service restaurants.
New opportunities for market development are presented by technological improvements related to the expansion of reliable, fast quality, and safety control techniques such as biosensors, polymerase chain reaction (PCR). In the context of microbiological testing, increased use of electrical bio-sensors is likely to drive the market over the forecast period for safety evaluation of the food items. Additionally, a change in consumer behavior and demographics across the Asia Pacific is expected to stimulate food consumption, which will likely increase demand for the safety assessment of foodstuffs throughout the forecast period.
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Key Highlights of Report
- In August 2017, FSSAI was launching on Go for Food Testing Food Safety on Wheels. Food Testing is an essential component of an ecosystem on food safety that helps develop the trust of customers in food safety that is safe to eat. Food Testing is one of the most critical components of a food safety ecosystem.
- Europe has emerged as a leading business area, accounting for a market share of 36.1% in 2019, and SA represents the bulk of the market share in the revenue. The high prevalence of food-related allergies is projected to increase the dependence on safety checks among consumers in the region.
- In terms of revenue, the category of meat, poultry, and seafood products dominated the market with a share of 28.9% in 2019. The growth in the segment over the forecast period will be driven by the rising consumption of meat and meat products worldwide and a high risk of disease in red meats.
- Major companies operating in Food Safety Testing System Market include SGS S.A., Romer Labs Division Holding GmbH, Intertek Group plc, Bureau Veritas SA, Covance Inc., Eurofins Scientific SE, Merieux NutriSciences, NSF International, Microbac Laboratories, Inc., Nova Biologicals, Inc.
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Emergen Research has segmented the Food Safety Testing System Market in terms of test, application, and region:
- Test Outlook (Revenue, USD Billion; 2018–2028)
- Allergen Testing
- Chemical & Nutritional
- Genetically Modified Organism (GMO)
- Residues & Contamination
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Meat, Poultry, & Seafood Products
- Dairy & Dairy Products
- Processed Food
- Cereals & Grains
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Published at Wed, 03 Feb 2021 09:22:41 +0000