Tag: Top 10 Food Safety Testing and Technologies Trends

Food Safety Testing Market Size, Share, Trends and Growth

The food safety testing market is projected to grow at a CAGR of 8.2% from an estimated value of USD 22.7 billion in 2023 to reach USD 33.7 billion by 2028. The food safety testing market is experiencing growth due to various factors. These include the global nature of the food supply chain has increased the complexity of ensuring food safety. With food products crossing international borders, there is a need for standardized testing and quality assurance protocols to ensure that products meet safety standards.

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Food pathogen testing is estimated to be the most important market trend among the top trends in food safety testing markets

The largest growing trend in the food safety testing market is food pathogen, which is estimated to be the most significant market. The food pathogen testing market is witnessing rapid growth globally, driven by increasing concerns about food safety, stringent regulatory requirements, and a growing focus on preventing foodborne illnesses. Advances in testing technologies, such as PCR-based methods and next-generation sequencing, are enhancing the accuracy and efficiency of pathogen detection, further fueling market expansion. As consumers and the food industry alike prioritize safe and pathogen-free food products, this market is expected to continue its upward trajectory.

GMO food safety testing is estimated to be the second-most important market trend in the food safety testing market

The GMO food safety testing market is projected to stand second, in terms of the fastest-growing trends, during the forecast period from 2023 to 2028. In some regions, labeling requirements mandate the identification of GMO ingredients in food products. This necessitates testing to confirm the presence or absence of GMO components in various food items, ensuring accurate product labeling and transparency.

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Asia Pacific region emerged as the fastest-growing region during the forecast period

The Asia Pacific region is poised to exhibit the fastest growth during the forecast period in various industries and sectors. This robust expansion can be attributed to several factors, including rapid urbanization, burgeoning middle-class populations, and increasing consumer demand for a wide range of goods and services. As a result, Asia Pacific presents a fertile ground for market opportunities and investments, attracting both domestic and international businesses. The region’s dynamic economic landscape, combined with the adoption of new technologies, innovations, and government initiatives, has fueled this accelerated growth, making it a pivotal region to watch for business expansion and market development in 2023 and beyond.

Key Market Players

  • Bureau Veritas (France)
  • Intertek Group PLC (UK)
  • Eurofins Scientific (Luxembourg)
  • ALS (Australia)
  • TUV Nord Group (Germany)

Market Leaders – Top 10 Food Safety Testing and Technologies Trends

The key players identified have a strong presence in the top 10 trends in food safety testing and technologies industry including SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group plc (U.K.), Eurofins Scientific SE (Luxembourg), ALS Limited (Australia), Thermo Fisher Scientific Inc. (U.S.), Mérieux NutriSciences Corporation (U.S.), AsureQuality Ltd. (New Zealand), Microbac Laboratories Inc (U.S.), and Romer Labs Diagnostic GmbH (Austria).

The key market players adopted various growth strategies such as expansions, acquisitions, agreements, in order to cater to the increasing demand for food safety and testing technologies. The companies increased their research and development expenditure to expand their manufacturing capacities and offer diversified food safety testing technologies.

The core strengths of the key players that have driven the top 10 trends in food safety testing and technologies industry are strategic expansions and acquisitions, in order to enhance their market presence. Market players such as SGS S.A. (Switzerland), Bureau Veritas S.A. (France), and Intertek Group plc (U.K.) successfully tapped the potential markets through expansions, acquisitions, and new service launches. Moreover, these companies also focused on offering a diverse range of testing services such as food pathogen testing, GMO Testing, pesticide residue testing, and others to cater the changing requirements of the food safety testing and technologies industry.

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SGS S.A. (Switzerland) has been one of the major players in the global food safety testing and technologies industry; it adopted strategies such as acquisitions, expansions, partnerships, and new technology & service launches in the recent years. The company acquired Laboratoire LCA (Morocco), to expand its business in the Moroccan agriculture market, it also expanded its food testing laboratory in South Korea, to offer food chemical testing, food contaminant testing, and microbiological and DNA testing.

Bureau Veritas S.A. (France) adopted acquisitions as its strategy to expand its presence in the food safety testing and technologies industry. Bureau Veritas S.A. is a global leader in providing testing, inspection, and certification services to meet the growing challenges of quality, safety, environmental protection, and social responsibility. The company offers innovative solutions for regulations & standards, reducing risks, improving performance, and promoting sustainable development.

Intertek Group plc (U.K.) adopted strategies such as expansions and acquisitions in order to efficiently expand its geographic presence in recent years. Intertek set up its AgriTech laboratory at Hyderabad (India) to perform DNA-based testing of various agricultural products. The company introduced its advanced ScanBi DNA testing technology in India with this expansion. The company also acquired the Italian company Food International Trust (FIT-Italia), which provided a wide range of assurance, testing, and certification services.