Food Safety Technologies Global Markets to Reach $19.2 Billion

WELLESLEY, Mass., Nov. 02, 2018 (GLOBE NEWSWIRE) -- With an increase in foodborne disease outbreaks, advances in food safety testing technologies, globalization of the food supply and stringent international food safety regulations, the food safety testing market is now more important than ever.

According to the BCC Research report Global Markets and Technologies for Food Safety Testing, increasing consumer awareness of the safety and quality of food is expected to drive the food safety testing market throughout the forecast period.

The desire of the food industry to protect itself at every stage and stringent regulations in the industry are the primary factors accelerating the food safety testing market through the forecast period. The global food safety testing market was worth nearly $13.3 billion in 2017, and it is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2018 to 2023 to reach $19.2 billion in 2023.

Research Highlights

  • Pathogen testing accounts for the highest share of the testing market. In 2016, FoodNet identified 24,029 infections, 5,512 hospitalizations, and 98 deaths caused by pathogens such as Salmonella, Escherichia coli, Listeria and Campylobacter.
  • According to the Food and Agriculture Organization (FAO), 25% of the world’s food crops are affected by mycotoxins. Rising level of toxin contents in the food also drives the food safety testing market.
  • Stringent regulations on enforcing food safety guidelines in the U.S. and Canada have fueled the demand for food safety testing services in the region. North America is the largest region concentrating on food safety testing methods, with a market share of 51.5% in 2017.

“The global food supply is increasing every year due to rising population, changing food habits, and food and drinks being supplied by catering services,” said BCC Research analyst Karen Shah. “As the global food supply increases, the need to strengthen food safety testing systems worldwide becomes more prominent. Food manufacturers are striving to satisfy the current demands for food safety testing solutions that meet consumers’ expectations. The technologies that are being widely used for the food safety testing include polymerase chain reaction (PCR), immunoassay, enzyme-linked immunosorbent assay (ELISA), rapid culture detection and biosensors.”

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