Food Safety Testing Market Size to Garner $37.5 Billion by 2031 : Allied Market Research

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Apr 04, 2023, 11:00 ET

The growing population, rise in incidence of food frauds, the growing economically motivated adulteration (EMA) owing to high competition, and a rise in disposable income of consumers drive the global food safety testing market.

PORTLAND, Ore., April 4, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Food Safety Testing Market by Technology (Agar Culturing, PCR-based Assay, Immunoassay-based, Others), by Food Tested (Meat and Meat Product, Dairy and Dairy Product, Cereals, Grains, and Pulses, Processed Food, Others), by Type (Pathogen, Genetically Modified Organism (GMO), Chemical and Toxin, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global food safety testing industry was valued at $18.7 billion in 2021 and is estimated to generate $37.5 billion by 2031, witnessing a CAGR of 7.2% from 2021 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

The growing population, rise in disposable income of consumers, rise in incidence of food frauds, the growing economically motivated adulteration (EMA) owing to high competition, and enhanced food safety testing drive the food safety testing market growth. However, a lack of necessary infrastructure for food safety control in the developing or poor nations, and a lack of communication between players in food safety testing market and their clients hinders the global market growth. On the other hand, introduction of new and cutting-edge techniques in food safety testing and various regulations on food safety, particularly in the developed economies will present new growth opportunities for the global food safety testing market in the coming years.

Covid-19 Scenario

The impact of the COVID-19 pandemic on the food safety testing had been significant.
The COVID-19 pandemic led to the increased consumer demand for food products owing to panic buying. This factor along with rushed industry audits and the pressure on the food industry exposed more vulnerabilities in an already complicated system.
However, in the post-pandemic period, the demand for food safety testing rose quickly due to the increased consumer awareness of food safety.

The pathogen segment to dominate the market in terms of revenue during the forecast period

Based on type, the pathogen segment contributed to the largest share of two-fifths of the global food safety testing market in 2021 and is expected to dominate the market during the forecast period. Different kinds of pathogens, including viruses, bacterial strains, fungi, or parasites can make their host sick. In order to ensure customer safety, pathogen testing is regularly carried out throughout the production process, from raw materials through end product screening. However, the chemical and toxin segment is expected to witness the fastest CAGR of 7.8% from 2021 to 2031. Bacterial toxins or specific plant toxins, like the pyrrolizidine alkaloids found in honey, milk, or eggs are examples of poisons in food. In order to cover the broad polarity range of potential organic chemical pollutants, modern food contaminant testing laboratories use both GC-MS and LC-MS.

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The PCR-based assay segment to maintain its leadership during the forecast period

Based on technology, the PCR-based assay segment grabbed the highest share of nearly half of the overall food safety testing market in 2021 and is projected to maintain its dominance in 2031. Moreover, the same segment is expected to witness the fastest CAGR of 7.6% from 2021 to 2031. Polymerase chain reaction technology is used by the agricultural biotechnology sector at various stages of the product development. The approach is primarily used to assess the amount of genetically modified material contained in a product or verify the presence or absence of genetically modified material in a sample of the product.

North America to dominate the market by 2031

Based on region, the market in North America was the largest in 2021, accounting for more than one-third of the global food safety testing market and is likely to dominate in terms of revenue in 2031. This is due to the prevalence of public health burden of foodborne illnesses in the state of Mississippi (MS). The market in Asia-Pacific, however, is likely to show the fastest CAGR of 7.7% during the forecast period. This is due to the increase in disposable income of consumers and the high demand for effective food safety testing. The prevalence of improper usage of pesticide in developing countries such as India and China are expected to contribute to the growth of the food safety testing market.

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Leading Market Players

Intertek Group Plc
SGS SA
TUV SUD AG
ALS Limited
Bio-Rad Laboratories
AsureQuality Ltd.
Eurofins Scientific
Bureau Veritas SA
Thermo Fisher Scientific, Inc.
DNV AS

The report analyzes these key players of the global food safety testing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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