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Global Food Safety Testing Industry

Global Food Safety Testing Industry

  • May 2020
  • 339 pages
  • ID: 90559
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

The global market for Food Safety Testing Services is projected to reach US$21.4 billion by 2024, supported by the increasing focus on food quality; legislation of stringent government food safety regulations and hygiene standards; advances in food testing technologies and commercial availability of rapid screening tests. Contamination of the food chain and the ensuing need for continuous monitoring for the presence of natural toxins, mycotoxins and residues of unauthorized chemical substances will benefit adoption of food testing services. Manmade soil contamination and excess use of pesticides have damaged the ecosystem and polluted the food chain resulting in strict standards being drafted to protect foods right from cultivation, production, transportation to the consumers’ table. Benefits of food safety testing reaped by farmers, food companies and consumers include optimum protection of foods from biological, chemical and physical hazards; higher levels of public health and safety and lower risk of death, disease and sickness caused by unsafe food consumption; reduced food wastages; and reduced losses due to product recalls for commercial food establishments.The strong emphasis placed on quality control is poised to benefit is the entire spectrum of food safety testing comprising analytical chemistry testing, food microbiology testing, food nutrition analysis, and food allergen testing. Europe stands at the forefront of global adoption of advanced food safety technologies with several leading market players operating R&D centers in the region. Asia-Pacific is forecast to register the fastest CAGR of 8.1% over the analysis period, led by strong emphasis on food security and safety in emerging markets such as China and India as important aspects of the right to food; increasing consumer awareness over healthy food options and the ensuing improvement in industrial hygiene standards in food processing; continued rise in the number of food safety testing laboratories; and rapid growth of food trade in developing Asian nations and the need to comply with quality standards of importing nations.

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