Market Research Report
Food Safety Testing - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||521482|
|Published||Content info||194 Pages
Delivery time: 2-3 business days
|Food Safety Testing - Global Market Outlook (2017-2026)|
|Published: August 19, 2019||Content info: 194 Pages||
According to Stratistics MRC, the Global Food Safety Testing is accounted for $13,144.00 million in 2017 and is expected to reach $27,618.24 million by 2026 growing at a CAGR of 8.6% during the forecast period. Increase in application of pesticides in agriculture and high application preservatives are the key driving factors for the market growth. However, Prevalence of traditional methods accompanied by higher cost of rapid technology is one of the factor hindering the market.
Food safety testing refers to the inspection of food products for disease-causing organisms, chemicals, and other hazardous materials. It is generally targeted at three primary food contaminants namely, pathogens, chemicals, and genetically modified organisms (GMOs). Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, sale of food that is unfit and potentially harmful and deliberate misdescription of food. Implementation of various regulations on food safety, particularly in the developed economies, drives the growth of the global food safety testing market. Recycling of animal by-products, sale of goods past their use by date, inclusion of harmful ingredients, and unsafe food handling processes are some of the major food fraud activities.
Based on technology, rapid food safety testing technology is going to have a considerable demand during the forecast period is owing to the technological advancements and increasing competitiveness in the industry has surged the market growth. Based on Geography, The European market is going to have a lucrative growth during the forecast period as they have recorded many issues related to food safety over the past few years. As a result, stringent policies have been regulated to implement complete food safety for the public.
Some of the key players profiled in the Food Safety Testing include SGS, Als Limited, Asurequality, Bureau Veritas, Eurofins, Food Chain Id, Intertek, Merieux, Microbac Laboratories, Neogen Corporation, Rj Hill Laboratories, Romer Labs, Symbio Laboratories, TUV Nord Group and TUV SUD.