Market Overview:
The global Food Safety Products and Testing Market is
estimated to be valued at US$859.1 million in 2021 and is expected to exhibit a
CAGR of 9.6% over the forecast period from 2022 to 2030, according to a new
report published by Coherent Market Insights. Food safety products and testing
play a crucial role in ensuring the safety and quality of food products. These
products are used to detect and eliminate harmful substances, such as
pathogens, pesticides, and contaminants, from food items. The increasing
consumer awareness and concern about foodborne illnesses and the stringent
government regulations regarding food safety are driving the demand for food
safety products and testing in the market.
Market Key Trends:
Foodborne illnesses and contamination outbreaks have been a
major concern globally, leading to an increased emphasis on food safety
measures. As a result, there is a growing trend of adopting advanced testing
solutions for food safety. One key trend in the market is the increasing use of
rapid testing methods. Rapid testing techniques, such as PCR (polymerase chain
reaction), ELISA (enzyme-linked immunosorbent assay), and biosensors, provide
quick and accurate results compared to traditional methods. These methods help
in detecting pathogens, allergens, and contaminants in a shorter time frame,
thus facilitating timely interventions and reducing the risk of foodborne
illnesses. The demand for rapid testing methods is expected to grow
significantly over the forecast period, driven by the need for efficient and
reliable food safety screening.
Segment Analysis:
The food safety products and testing market is segmented based on product type,
technology, application, and region. In terms of product type, the dominating
segment is testing kits and reagents. This segment is expected to hold a
significant market share in the forecast period. The increasing number of food
safety regulations and the need for rapid and accurate testing methods are
driving the demand for testing kits and reagents. These products offer quick
and reliable results, ensuring the safety and quality of food products.
Advances in technology have led to the development of innovative testing kits
and reagents, further propelling the growth of this segment. Additionally, the
accessibility and cost-effectiveness of these products make them highly
attractive to food manufacturers and testing laboratories.
Key Takeaways:
The
global
food safety products and testing market is expected to witness high
growth, exhibiting a CAGR of 9.6% over the forecast period. This growth is
primarily driven by increasing awareness regarding food safety and the
implementation of stringent regulations by regulatory authorities. The growing
consumer demand for safe and high-quality food products is also contributing to
market growth. Furthermore, advancements in technology, such as rapid testing
methods and the development of innovative products, are fueling market
expansion.
In terms of regional analysis, North America is the fastest-growing and
dominating region in the food safety products and testing market. The region
has a well-established food safety infrastructure and regulatory framework.
Stringent regulations set by the FDA and other regulatory bodies have compelled
food manufacturers and testing laboratories to adopt advanced testing methods
and ensure compliance with food safety standards. Additionally, increasing
consumer awareness and demand for safe food products are driving the market in
this region.
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 key players have a strong presence in the market and offer a
wide range of food safety products and testing services. They are actively
involved in research and development activities to introduce new and improved
testing methods and technologies. These players also focus on strategic
collaborations, acquisitions, and partnerships to expand their market share and
strengthen their position in the food safety products and testing industry.
Read More:
https://www.ukwebwire.com/food-safety-products-and-testing-market-increasing-demand-for-food-safety-measures-drives-market-growth/
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