(Entertainment-NewsWire.com, August 09, 2022 ) The rising incidence of foodborne diseases, growing consumer awareness regarding food safety, stringent food safety regulations, and rising demand for convenience and packaged food products are some of the major factors driving the growth of the food safety testing market. However, the lack of food control infrastructure in developing nations is hindering the growth of this market to some extent.
The food safety testing market is expected to reach $29.6 billion by 2027, at a CAGR of 7.6% during the forecast period of 2020 to 2027
North America is estimated to command the largest share of the global food safety testing market in 2020, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. However, Asia-Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth of this region is mainly attributed to the increasing demand for processed food products in emerging and developing countries such as India, China, Indonesia, and Thailand; increasing number of poisoning outbreaks with consumption of contaminated meat; and rise in cases of food degradation, such as contamination, pesticides, and artificial taste enhancers.
Key Players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the overall food safety testing market over the last four years (2017-2020). The key players profiled in the global food safety testing market are SGS SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific S.E. (Luxembourg), Thermo Fisher Scientific Inc. (U.S.), ALS Limited (Australia), Bureau Veritas SA (France), Merieux NutriSciences Corporation (U.S.), AsureQuality Limited (New Zealand), Microbac Laboratories, Inc. (U.S.), Romer Labs Division Holding GmbH (Austria), TÜV SÜD AG (Germany), NEOGEN Corporation (U.S.), FoodChain ID Group, Inc. (U.S.), R J Hill Laboratories Limited (New Zealand), Symbio Laboratories (Australia), and BIOTECON Diagnostics GmbH (Germany).
