Industry Background:
Food Safety Testing Services are basically services offered by few firms which conduct standard and sophisticated tests on various food items to ensure the quality of the food products using microbiological analysis. This tests may include Chromatography and Spectrometry, Immunoassay, Polymerase Chain Reaction and other popular tests as per the client requirements. This tests are conducted to detect any traces of Pesticides and Residue, or Pathogen or heavy metals and similar contaminants which may be harmful for the health of the people who are consuming the concerned food product. The market of food safety testing services on a rise owing to increased stringent regulations on food quality both in developed and developing countries. Geographically, Europe Accounts for Largest Market Share although Asia Pacific is steadily emerging as one of the significant market because of rising awareness about the benefits of food safety testing.
According to AMA Research, the market for Food Safety Testing Service is expected to register a CAGR of 8.0% during the forecast period to 2030. This growth is primarily driven by Rising Stringent Regulations on Safety of Food and Beverages
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Business Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Mérieux NutriSciences (United States), NSF International (United States), EW Group (Germany), SGS SA (Switzerland), Bureau Veritas (France), Eurofins Scientific (Luxembourg), TÜV NORD Group (Germany), TÜV SÜD (Germany), Intertek Group Plc (United Kingdom) and ALS Limited (Australia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, EW Group, based in Germany which is a strategic holding company with emphasis on poultry, animal health, nutrition and diagnostics, aqua breeding and related businesses has announced acquisition of Hygiena, which is a leader in food safety solutions. The new acquisition deal is expected to benefit Hygiena expand its product portfolio and global capabilities. Hygiena will also have an opportunity to combine their expertise and synergies with that of BioChek and Biotecon, both of them being subsidiaries of EW Group.
OnNovember 15, 2023, Bio-Rad Laboratories launched the iQ-Check Flu A/B, a rapid PCR test for detecting influenza A and B viruses in food samples. This test offers fast and accurate results, helping to ensure food safety during flu season.The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Influencing Trend:
Pathogen Testing Accounts for a Significant Portion
Market Growth Drivers:
Rising Stringent Regulations on Safety of Food and Beverages and Growing Incidents of Adulteration and Contamination
Challenges:
Lack of Testing Facilities and Required Skilled Professionals
Restraints:
High Cost of Testing Equipment
Opportunities:
Emerging Markets in India and Africa Present Huge Opportunity because of Expanding Markets of Processed Food in the Region
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Food Safety Testing Service Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Food Safety Testing Service Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Food Safety Testing Service players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Food Safety Testing Service Study Sheds Light on
The Food Safety Testing Service Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Food Safety Testing Service industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Food Safety Testing Service industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.