Description
The global Food Safety Testing market estimated at US$23.89 Billion in the year 2024, is now projected to grow at a CAGR of 6.32% and reach US$34.73 Billion by 2030.
The research report provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.
The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.
North American food safety testing market is expected to grow significantly over the forecast period. This growth can be attributed to the rising consumer awareness of food safety, an increase in chemical contamination situations, and advancements in rapid inspection systems. Also, stringent regulations imposed by regulatory bodies will drive the regional market growth. United States contributed around 78% of the total regional market. It is estimated to have a market value of US$5.34 Billion in the year 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 5.73% and 4.44% respectively over the 2024-2030 period.
Within Europe, Germany, France and the U.K. are the key countries responsible for the significant growth of the market. The increase in food-borne diseases, contamination in food products, and rise in consumer awareness about food quality and safety are giving rise to the food safety testing market. Moreover, strict government regulations that safeguard the processed and unprocessed food products are supporting the market growth in Europe. Germany is projected to grow at a CAGR of 5.88% over the forecast period.
The Asia-Pacific food safety testing market is anticipated to witness an upsurge owing to the rapid urbanization and industrialization in the region. This shift in the behavior and demographics of the population across the Asia Pacific is expected to spur the consumption of packaged food, which is expected to drive the demand for the safety assessment of edible items over the forecast period. China is forecast to reach a projected market size of US$4.18 Billion by 2030.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing nations such as Qatar, U.A.E, Saudi Arabia and Oman due to a similar growth pattern as the Asia Pacific.
Major players in the market include 3M Company; ALS Limited; Biolog, Inc.; Bureau Veritas S.A.; Charm Sciences, Inc.; DTS Food Assurance; Eurofins Scientific; FoodChain ID Testing; ifp Institut für Produktqualität GmbH; Intertek Group PLC; Mérieux NutriSciences; Microbac Laboratories, Inc.; Neogen Corporation; Romer Labs, Inc. and SGS SA, among others.
