NEWARK, Del, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The food testing services market is predicted to reach a value of US$ 21.7 billion in 2023 and is predicted to reach US$ 49.06 billion by 2033. The market is estimated to secure a CAGR of 8.5% during the forecast period.
The rising demand for food testing services is due to the burgeoning foodborne, food-related issues and the shelf-life of food. The rising demand for high-quality testing due to increasing food spoilage is a growing market opportunity. However, manufacturers are developing highly advanced food testing service devices to drive market opportunities.
An increase in viruses, fungi, bacteria, and food contamination is rising the adoption of food testing services. The growing consumer awareness and government initiative plan to maintain food quality are rising market expansion. The innovation of products and maintaining the brand reputation of food items by top companies are increasing the demand for food testing services.
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Consumers' Rising Demand for High-quality Food Creating Several Market Trends
Healthy food contains nutrients and vitamins and retains good energy. The rising consumers demand for high-quality food containing healthy diets and fats is increasing the adoption of food testing services. The top food manufacturing companies are increasing food standards by checking the quality and safety of food items.
The government is implementing rules towards the food industry to provide better quality packed food items. Therefore, the food industries must monitor and maintain food safety standards by adopting food testing services. Thus, food service providers adopt these healthy foods as per consumers' preferences.
Several developing countries require government approval to add certain food additives. These guidelines and rules are created for consumers' safety and to avoid food toxicity. However, with the rising awareness of food-related issues and diseases, the market is shifting toward microbiological tests. The rising technological advancement and choice of preferred food are driving the food testing services market growth.
Key Takeaways:
- The food testing services market is expected to have a valuation of US$ 49.06 billion by 2033.
- With a CAGR of 8.5%, the market is increasing during the forecast period.
- The food testing services market is anticipated to reach US$ 21.7 billion in 2023.
- Historically, the market stood at a valuation of US$ 20 billion between 2018 and 2022.
- The United States dominates the global market by securing a maximum share during the forecast period.
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Who is Winning?
The market is fragmented by prominent players present in the globe during the forecast period. However, with rising innovations and adopting several marketing tactics, these players are developing advanced food testing service devices to identify food quality. These players are increasing the adoption of clean-label packaging to reduce food-related diseases.
Recent Development:
- In July 2022, a food analyzer laboratory, SGS, launched its new laboratory for food organizations to assist them by checking the food quality.
- In May 2022, a testing laboratory provider, Burea Veritas, announced the launch of a new microbiology laboratory to conduct pathogen testing for the agri-food sector, in the United States.
- In April 2022, a food safety provider company, Mérieux NutriSciences, acquired the Laboratorios Bromatológicos Araba to strengthen the pesticide market in South Africa.
Food Testing Services Market by Category
By Type:
- Pathogens
- Salmonella
- Campylobacter
- E. coli
- Listeria
- Pesticides
- Genetically Modified Organism
- Toxins
- Others
By Technology:
- Traditional
- Rapid
- Polymerase Chain Reaction
- DNA Sequencing/NGS
- Immunoassay, Chromatography
- Spectroscopy
By Food Tested:
- Meat, Poultry, and Seafood
- Processed Food
- Fruits & Vegetables
- Dairy Products
- Cereals & Grains
- Others
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1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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