According to a new report by Kings Research, the global food safety testing market is projected to reach $43.37 billion by 2031, driven by advancements in testing technologies, increasing consumer demand for organic produce, and the expanding e-commerce food industry.
Market Overview
The food safety testing market is experiencing robust growth, underpinned by stringent regulatory standards and technological innovations. Rapid microbiological testing methods, automation, and robotics are enhancing efficiency and reducing turnaround times in food safety testing, making it more accessible and reliable.
Key Market Insights
- Pathogen Testing Dominates: Pathogen testing held the largest market share of 47.93% in 2023, emphasizing the critical need to identify and control foodborne pathogens.
- Technological Advancements: The immunoassay-based segment generated the highest revenue of $8.99 billion in 2023. These tests are vital for detecting contaminants quickly and accurately.
- Regional Growth: North America is expected to grow at a CAGR of 8.20% from 2024 to 2031, driven by regulatory mandates such as the Food Safety Modernization Act (FSMA) and increased consumer awareness of food safety.
Drivers of Market Growth
Consumer Demand for Organic and Local Produce: The increasing preference for organic and locally sourced foods is fueling the demand for comprehensive food safety testing. Consumers' concerns about pesticide residues and GMOs drive manufacturers to adopt rigorous testing and certification processes.
E-commerce and Global Supply Chains: The rise of e-commerce in the food sector necessitates robust food safety measures to manage the complexities of global supply chains. Innovations like blockchain-powered traceability systems are becoming essential to ensure food safety in this fast-evolving landscape.
Rapid On-site Testing Kits for Allergens: The development of rapid on-site testing kits for allergens is providing new growth opportunities. These kits help manufacturers and retailers quickly identify allergen contamination, ensuring consumer safety and compliance with stringent allergen labeling regulations.
Expansion into Emerging Markets: The globalization of the food trade is opening up new markets, especially in developing regions. However, these markets often lack robust food safety infrastructure, creating a need for reliable testing solutions to ensure compliance and consumer trust.
Notable Industry Movements
Neogen’s Acquisition Strategy: In February 2023, Neogen Corporation acquired Corvium, Inc., enhancing its data analytics capabilities. The integration of Corvium's cloud-based Environmental Monitoring Program (EMP) with Neogen's systems helps establish comprehensive food safety systems.
Collaborations and Partnerships: Leading companies like Eurofins Scientific, SGS SA, and Bureau Veritas are entering strategic partnerships and acquisitions to expand their market presence and technological capabilities.
Regional Highlights
North America: The region accounted for a significant market share in 2023 and is projected to generate $11.84 billion by 2031. The rigorous regulatory environment, coupled with high-profile foodborne illness outbreaks, has underscored the importance of food safety testing.
Asia Pacific: This region is also witnessing substantial growth due to increasing urbanization and rising consumer awareness about food safety. Regulatory frameworks are becoming more stringent, further driving the demand for testing services.
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