Food Safety Testing Market: Forecasted 7.90% CAGR by 2028, Examining Size, Share, and Demand

MarkNtel Advisors has recently published "Food Safety Testing Market Analysis Share, Growth, Demand, Forecast  2028," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the Food Safety Testing Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the Food Safety Testing Market is anticipated to experience a CAGR of approximately 7.90% during the period of 2023-2028. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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Market Dynamics

Key Driver: Rapidly Rising Cases of Food-borne Illnesses Worldwide

The world is witnessing a swiftly increasing number of individuals being diagnosed with food-borne illnesses, i.e., the primary aspect projected to drive the Global market during 2023-28. The major reason behind the rising incidence of these illnesses is the consumption of spoiled, contaminated, or expired food items with various microorganisms like fungi, bacteria, viruses, & parasites, among others. Consequently, there's a burgeoning demand for advanced food testing kits, equipment, and systems, which are accurate & can provide quick results in real-time, i.e., projected to stimulate the growth of the food safety testing industry in the years to come. 

Recent Development

·        On 17 April 2023, SGS S.A. announced giving certifications to Medjool Village, Jordan’s largest vertically integrated grower, packer & exporter of Medjool dates, for BRCGS Global Food Safety Standard. This new addition is on top of ISO 9001 & FSSC 22000 certifications, which has once again demonstrated Medjool Village’s commitment to food quality & safety.

·        On 2 May 2022, Bureau Veritas, a global leader in TIC (Testing, Inspection, & Certification) services, announced the opening of its third US microbiology laboratory in Reno, Nevada, which offers rapid pathogen testing & microbiology indicator analyses to ensure the safety of food & agriculture commodities.

Segmenting Success: Unveiling Opportunities in the Food Safety Testing Market 2023-2028

The Food Safety Testing Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on Testing Type

- Allergen Testing

- Residues and Contamination Testing

- GMO Testing

- Mycotoxin (Fungi) and Microbiological Testing

- Pathogen Testing

- Toxic Heavy Metals Testing

- Others (Chemical or Nutritional Testing)

Based on Technology

- Traditional Technology

- Rapid Technology  

-- Molecular Detection System (MDS)

-- Rapid pathogen testing technology

-- Rapid Antibody-based Technology

Based on Application

- Food

-- Dairy Products

-- Fruits & Vegetables

-- Seafood, Meat, and Poultry

-- Processed Food

-- Cereals & Grains

-- Others (Nuts and seeds)

- Beverages

-- Water

-- Alcoholic Drinks

-- Milk Adulteration

Geographically, the Food Safety Testing Market expands across the following:

- North America

- South America

- Europe

- Asia Pacific

- Middle East and Africa

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Unveiling the Competitive Landscape: Insights into Key Players in the Food Safety Testing Market 2023-2028

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the Food Safety Testing Market, ultimately seeking substantial revenue generation over the forecasted years.

- The 3M Company

- Agilent Technologies

- ALS

- Bio-merieux SA

- Bio-Rad Laboratories

-  Bureau Veritas

- Eurofins Scientific

- Genetic ID NA Inc

- Intertek Group

- Merck Group

- Merieux NutriSciences

- Neogen Corporation

- Qiagen Corporation

- SGS S.A.

- Others

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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