Global Information, Inc. would like to present a new market research report, "World Food Safety Products" by The Freedonia Group.
Recent high-profile occurrences of food contamination have prompted worldwide governments to reconsider current food safety practices. The produce industry, in particular, has been shaken up by several major recalls due to severe outbreaks of salmonella, E. coli and other bacteria in recent years. On Wednesday November 18th, the U.S. Senate voted 74 to 25 to consider a bill to improve the food safety system, reports the New York Times. Overall global food safety regulations are expected to become increasingly stricter, which should fuel advances in the food safety products market. "World demand for food safety products - including disinfection and diagnostic products, smart labels and tags, and software and tracking systems - is projected to rise 8.1 percent per year to $13.6 billion in 2014," says a new report from the Freedonia. Between 2009 and 2014, some of the best opportunities for food safety products will be found in the Asia/Pacific region, which is projected to account for two-fifths of the total value gains in this market.
According to the new 315-page report, disinfection products will continue to account for the bulk of food safety product demand worldwide. For example, Fresh Express, a leading producer of bagged salad greens in the United States, says that the company plans to abandon the "standard industry practice of washing leafy greens with chlorine" for a better way to wash by using a "acid mixture, which it claims is many times more effective in killing bacteria". Accounting for 23 percent of total demand in 2009, the US is the worlds biggest national consumer of food safety products by far; however, the most rapid gains will take place in developing regions. China is the most notable and will continue to observe the fastest growth in demand, perhaps due to mounting pressure from consumers, regulators and producers to practice better standards for food supply safety.
©2010 by The Freedonia Group, Inc.