New York, United States , Nov. 09, 2022 (GLOBE NEWSWIRE) -- The Global Food Safety Testing Equipment and Consumables Market Size was USD 16,114 million in 2022, and it is predicted to increase at a CAGR of 7.6% during the forecast period, according to the new research study published by Spherical Insights & Consulting. Food safety, a well-balanced diet, and food security are all linked. Unsafe food contributes to a vicious circle of infections and malnutrition, which disproportionately affects newborns, children, the elderly, and the sick. A healthy food supply not only helps to maintain food and nutrition security, but it also helps to boost national economies, trade, and tourism, all of which contribute to long-term development.
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Food safety is impacted by the world's rising population, climate change, and a fast-changing food system. The rising number of infectious diseases caused by food contamination, combined with increased awareness about food safety testing, has become the primary factor driving the market for food safety testing equipment and consumables. In the near future, the rapid growth of the food and beverage industry to meet customer expectations is expected to increase demand for food safety testing equipment. In addition, the expansion of the dairy industry has contributed to a rise in the demand for food pathogen testing. Strict government regulations, as well as a rapidly expanding food and beverage industry, are expected to propel market growth.
This research report categorizes the market for food safety testing equipment and consumables based on various segments and regions and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities, and challenges that influence the Food Safety Testing Equipment and Consumables Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included in order to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Food Safety Testing Equipment and Consumables Market.
Browse 51 market data tables and 47 figures spread through 263 pages and in-depth TOC on “Global Food Safety Testing Equipment and Consumables Market Size, Share, and COVID-19 Impact Analysis, By Type (Chromatography Systems, Mass Spectrometry Systems, PCR Equipment, Immunoassay Systems, Hybrid Systems, NMR Systems, and Flow Cytometry Systems), By Contaminant Type (Microbiological Analysis, Allergens Analysis, Pesticides & Fertilizers, Drugs And Antibiotics, Natural Toxins Analysis, and GMO Testing), By Food Type (Milk & Dairy Products, Grains, Fruits & Vegetables, Processed Food, Meat & Poultry, Sea Food, Cereals & Nuts, Beverages) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2022 – 2030”, in detail along with the table of contents.
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Based on the Type, the Food Safety Testing Equipment and Consumables Market is categorized into Chromatography Systems, Mass Spectrometry Systems, PCR Equipment, Immunoassay Systems, Hybrid Systems, NMR Systems, and Flow Cytometry Systems. The Polymerase Chain Reaction (PCR) Equipment segment will account for the greatest revenue in the market due to the advantages of using PCR technology to test a wide range of pathogens such as Listeria spp., Salmonella spp., and others that are analyzed using quick PCR systems, depending on the system. When it comes to GMOs, the PCR technique gives flexibility in terms of detecting several pathogens within a run, as well as detecting multiple species within a single test (depending on Test).
Based on region, the Food Safety Testing Equipment and Consumables Market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa. North America is expected to be the largest market. This is mostly due to the region's significant penetration of processed foods and strict food laws. Food safety funding from the government should be increased, as should the implementation of strict food safety legislation in this region. Furthermore, the United States' Food Safety and Modernization Act has enhanced the acceptance of food testing solutions in the region's food business. The primary purpose of food safety standards and organizations such as the Canadian Food Inspection Agency is to eliminate foodborne pathogens by preventing contamination. According to the Centers for Disease Control and Prevention, foodborne illness affects 48 million individuals in the United States each year, resulting in 128,000 hospitalizations and 3000 deaths.
The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2028, owing to the rising processed food sector and increased focus on food safety, particularly in emerging economies such as China and India. Food is a large industry in the Asia-Pacific, and it is an important part of the region's economic growth potential. With ever-increasing degrees of national and international expertise, the food trading industry is booming. These changes have increased the demand for quality standards at all levels, with a greater emphasis on food safety, transparency, quality, and nutritional and health implications.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Shimadzu Corporation, PerkinElmer Inc., Bruker, QIAGEN, ROKA BIO SCIENCE, DuPont., 3M and others 20+ prominent key players we have covered in the final report.
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