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Increase in Global Outbreaks of Foodborne Illnesses Drives the Market

(Food-Beverage-News.Com, June 21, 2019 ) The global food safety testing market was valued at USD 12.01 billion in 2016, and is projected to reach a value of USD 18.54 billion by 2022, growing at a CAGR of 7.60% from 2017. The food safety testing market is driven by the rise in foodborne outbreaks, advancements in testing technologies, globalization of food supply, and stringent international food safety regulations.

The food safety testing market caters to the food & beverages industry (including meat & poultry, dairy, processed foods, and fruits & vegetables). The fruits & vegetables segment is projected to grow at the highest CAGR from 2017 to 2022. Fruits & vegetables are increasingly being tested for pesticides, pathogens, and GMOs. The consumption of fresh fruits & vegetables has been increasing with the rise in consumer health awareness and trend of following healthy diets, which is projected to drive the growth in the fruits & vegetables segment.

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The food safety testing market, by target tested, has been segmented into pathogens, pesticides, GMOs, toxins, and others (food allergen and heavy metals). The GMOs segment is projected to grow at the highest CAGR from 2017 to 2022, due to rise in concerns about consumers for genetically modified organisms in food and stringent food regulations, globally.
The food safety testing market, by technology, has been segmented into traditional and rapid. The rapid segment is projected to grow at a higher CAGR from 2017 to 2022, due to the benefits offered by its multifunctional nature to offer time-efficient, quick, and flexible testing options to its end users.

The food safety testing market is experiencing high growth, particularly in the Asia Pacific and North American regions. The Asia Pacific region is projected to be the fastest-growing segment from 2017 to 2022. The Asia Pacific region offers the most attractive growth opportunities for food safety testing services with rise in income levels and purchasing power, increase in consumer awareness about health & safety, and growth in consumer demand for nutritional & healthy products, and through the presence of various key market players.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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MarketsandMarkets™

Mr. Shelly Singh

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raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com
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