The global market for food safety testing should grow from $16.3 billion in 2019 to reach $23.4 billion by 2024 at a compound annual growth rate (CAGR) of 7.5% for the period of 2019-2024.
The scope of this report is comprehensive, covering the present status and future prospects for the markets for food safety testing in North America, Europe, Asia Pacific, South America, and the rest of the world (ROW). The food safety testing market is analyzed globally based on the types of contaminants, namely pathogens, pesticides, GMOs, toxins, residues, and others, and also in terms of their testing processes.
The major food types tested in food safety testing are meat and poultry, dairy, grains, eggs, fish and seafood, beverages, and other food types. The market for testing every contaminant in food is covered in this report. The revenue forecasts from 2019 to 2024 are explained for each food testing method by technology, food and region.
The report also provides a detailed analysis of the major food safety testing product vendors, as well as company profiles. It also explains the major market drivers for the global food safety testing market, the current trends within the industry and major end-user industries for the food safety testing market.
Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
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– 122 tables
– Comprehensive study and an in-depth analysis of the global markets for food safety testing technologies
– Analyses of global market trends, with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Coverage of market size for the various testing technologies, and information on how each test satisfies the needs of food processors and, in turn, consumers
– Assessment of the now sizable expenditures in government food safety testing and the market effect of government regulatory programs
– Identification of new technologies in the food-safety testing industry and analyses of patent activity
– Company profiles of the leading market players, including 3M Co., Bio-Rad Laboratories, Inc., Biotest AG, Perkin Elmer, Inc., and Strategic Diagnostics, Inc. (SDIX)
The food safety testing market remains a technologically dynamic and flourishing market in the world primarily due to the increasing cases of foodborne illnesses. Foodborne illnesses can be prevented by using food safety testing methods.
For instance, according to the U.S. Centers for Disease Control and Prevention’s (CDC) Foodborne Diseases Active Surveillance Network (FoodNet), there were 24,484 illnesses, 5,677 hospitalizations, and 122 deaths in the United States in 2017, the most recent year for which data are available. The United States accounted for REDACTED of the global food safety testing market in 2018.
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BCC Research projects that the global market for food safety testing will grow from nearly REDACTED in 2017 to REDACTED in 2019 and REDACTED by 2024, a compound annual growth rate (CAGR) of REDACTED from 2019 through 2024.
Reasons for Doing This Study
The principal driving force behind the economic demand for food safety testing is mortality and morbidity due to foodborne illness. In the U.S., where there are somewhat reliable data, the CDC (Centers for Disease Control and Prevention) estimates that 48 million illnesses, 128,000 hospitalizations and 3,000 deaths are linked to foodborne illness annually. However, the number of laboratoryconfirmed illnesses is far below the actual annual incidence of foodborne illness. With more regulatory laws and guidelines emerging worldwide, the food safety sector is substantially growing. The Food Safety Modernization Act (FSMA) has given the U.S. Food and Drug Administration (FDA) new authority to review records, including details of how critical verification testing is conducted. The new FSMAbased inspections have only begun, but it is expected that FDA investigators will be questioning the scientific validity of test results. This may lead to in-depth documentation reviews of the laboratory testing. Customers of ingredient suppliers are also beginning to look closely at how verification testing is conducted. The goal of enacting FSMA is to understand how hazards are being controlled and monitored throughout the supply chain. In many cases, it is expected that ingredients will be tested in an ISOaccredited lab or a lab that has been audited and approved.