The global food safety testing market will reach over $14,000 million in revenue, at a growth rate of 7.2 percent annually, by 2018, according to a new report from the Dallas-based global market research company MarketsandMarkets. This compares with $9,262.3 million in 2012.
Food safety testing signifies testing of food products to assure the absence of contaminants that are responsible for foodborne illness, toxicity or poisoning. In North America, food safety regulatory bodies such as FDA, CFIA, GFSI, USDA, etc. have been implementing food safety regulations to manufacture safe food using Good Manufacturing Practices (GMP), Good Agriculture Practices (GAP), and Hazard Analysis Critical Control Point (HACCP) systems.
This report explicitly describes the North American food safety testing market in terms of contaminants such as pathogens, toxins, pesticides, genetically modified organisms and other contaminants such as food allergens, chemical residues, etc. in three countries such as U.S., Canada and Mexico. Safety testing of food products such as meat & poultry products, dairy products, processed foods, fruits & vegetables, and other foods such as cereals, food additives, etc. using technologies such as traditional & rapid testing methods have been described in the report. The report also specifies food safety contaminant testing market based on pathogen subtypes, in various food types, and geographies.
The North American food safety testing market is projected to grow from $3,707.7 million in 2012 to $5,640.1 million by 2018. In 2012, U.S. dominated the food safety testing market largely due to the rigorous implementation of food safety regulations. Regulatory bodies in North America have been strictly supervising the implementation of HACCP systems by food manufacturers. The food safety concern among consumers has also been increasing due to the media influence. The market has been driven by the testing of food material during every stage of food production and processing.
Pathogens have been the leading cause of foodborne poisoning or illness. In 2012, pathogen testing dominated the food safety testing market in which salmonella testing accounted for the major share. Food contamination and recalls due to salmonella contamination has led to increase in the salmonella testing. Increasing food contamination and outbreak of Shiga toxin-producing E. coli (STEC) poisoning is expected to increase E. coli testing in market. Food safety testing market is projected to increase at a CAGR of 7.3 percent by 2018. In North America, rapid technology market for contaminant testing has been increasing as they are less time consuming.
The report provides full analysis of the key players in North American food safety testing industry, major technologies employed to detect contaminants and food products tested, with a clear insight and commentary on the developments and trends. With the huge opportunity in the market, the existing laboratories are experiencing a significant boom in the industry. Major growth in the food safety testing market is anticipated to come from U.S. and Canada. The market growth has also been attributed to the new product/services launch for food safety testing. The report provides detailed analysis of the current phase of the industry and the competitive strategies adopted by the major players in the food safety testing industry.
North America has 40 percent of that market share, and will reach more than $4,000 million by 2018, the report predicted.