Food Safety Testing Market worth $14,030.2 Million By 2018

Friday 19 July 2013, Amsterdam

The report "Food Safety Testing Market by Contaminants (Pathogen, GMO, Toxin, Pesticide), Technology (Traditional & Rapid), Food Types (Meat & Poultry, Dairy, Fruit & Vegetable, Processed Food & Geography–Global Trends & Global Forecast to 2018 " defines and segments the global food safety testing market with analysis & forecasting of global revenue & volume for food safety testing. It also identifies driving and restraining factors for the global food safety testing market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).

The global food safety testing market has been growing significantly due to increased outbreak of food poisoning caused due to consumption of contaminated food. Contamination of food can occur due to improper handling of food, contaminated raw materials, inadequate treatment & processing of food that destroys the contaminants, etc. Worldwide, various regulations, laws, and standards have been implemented to assure safety of food manufactured. GMP, GAP, and HACCP have been practiced by the food companies to manufacture safe and standard quality food products. The food safety testing has been performed during every stage of food supply chain i.e., procurement, processing, packaging, storage, and transportation etc. Globalization in food supply trade and increasing consumer awareness on food safety has been driving the market.

In 2012, the food safety testing market was dominated by testing of pathogens, as pathogen contamination has caused maximum cases of food poisoning. During the same period, most of the food recalls in U.S. were registered due to salmonella contamination. GMO testing is expected to increase further due to the growing concern for safety of genetically modified foods. Market players have been focusing on application of rapid testing methods that provide quick & accurate qualitative & quantitative results on contaminants. In 2012, meat and poultry product testing dominated the food safety testing market due to their high susceptibility for microbial contamination.

The global food safety testing market is projected to grow from $9,262.3 million in 2012 to $14,030.2 million at a CAGR of 7.2% by 2018. In 2012, North America was the largest food safety testing market with 40% of share, wherein U.S. dominated this market and is projected to reach $4,004.5 million by 2018. In 2012, meat and poultry accounted for 28% of global food safety testing market. In 2012, rapid testing method was dominated by PCR-based methods that performed 189.1 million tests, followed by immunoassay-based methods. The leading players in the food safety testing market include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group Plc. (U.K.), and DNV (Norway). These players have focused on introducing new product & services, mergers, acquisitions, and expansion of their business segments to maintain their position in the market.