The food safety products and testing market consist of a variety of products and services utilized for ensuring safety of food products by identifying pathogens and toxins. Rapid tests kits, chromatography systems, culture media, reagents & kits and microbial testing instruments dominate the market. The rising health consciousness and stringent regulations related to food quality standards have propelled the demand for food safety testing over the years.
The Global Food safety products and testing Market is estimated to be valued at US$ 1188.82 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Food safety products and testing market are Ercros,CCP,Celanese,LCY Chemical,Nantong Jiangtian,Hebei Jintaida Chemical,Shangdong Aldehyde Chemical,Yinhe Chemical,Shouguang Xudong,LINYI TAIER,Merck,Mitsubishi Gas Chemical,Chemanol,Xiangrui Chemical,Caldic. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position. For instance, in 2021, Merck acquired Chromatography hardware and consumables supplier Chromlab to expand its chromatography portfolio.
The key opportunities in the Food Safety Products And Testing Market Demand include growing demand for rapid testing kits from food processing industry and rise in foodborne illnesses. The demand for rapid testing is increasing as it helps in quick identification of pathogens and enables fast remedial actions. According to WHO, nearly 1 in 10 people fall ill due to consumption of contaminated food. This is propelling the need for improved food safety testing standards.
The market is witnessing significant expansion in emerging countries of Asia Pacific and Latin America. Improving regulations regarding food safety and growing middle class population with higher spend on quality food are driving the adoption of advanced testing solutions in these regions. Moreover, setting up of local manufacturing facilities by leading global players to cater to regional demand will further support the market growth over coming years.
Market drivers: The major market drivers include rising instances of food recalls due to contamination, growing international food trade, and implementation of stringent safety regulations worldwide. Food recalls can cause huge financial and brand loss to companies, thus boosting investments in advanced testing solutions. Stringent safety norms in regions like Europe and North America also favor market expansion.
Market restraints: High costs associated with food safety testing equipment and lack of food control infrastructure & resources in developing nations are some of the major challenges restraining the market growth. The testing instruments, media and reagents required are capital intensive which may limit adoption rate among small food businesses in cost-sensitive markets.
Segment Analysis
The food safety products and testing market is dominated by the product segment which comprises food safety kits & test strips, food safety test meters, food safety audits & certification, food safety & storage & other services. This segment holds the largest share due to stringent food safety regulations across various countries. The rising concerns regarding foodborne diseases is also propelling the demand for various food testing and safety equipment to ensure food products are free from contamination before consumption.
Global Analysis
Regionally, North America holds the largest share in the food safety products and testing market due to strict food safety regulations in the US and Canada. The demand is high from countries like the US, Canada, and Mexico. However, Asia Pacific is expected to grow at the fastest rate during the forecast period. This is attributed to the growing population, rising foodborne illnesses, and increasing health consciousness among consumers in developing countries like India and China. India and China along with other Southeast Asian countries are expected to witness high growth owing to growth in the food processing industry coupled with implementation of new food safety guidelines in these nations. Countries in Europe, Middle East & Africa are also projected to drive the market significantly during the projected timeframe.
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