Global Food Testing, Inspection, and Certification Market Overview:
Food Testing is the scientific analysis of food and its components. It's done to offer information on food's structure, composition, and physicochemical qualities, among other things. Food inspection services encompass the systematic monitoring of processes, products, and systems across the whole value chain, as well as the early detection of deviations or non-conforming goods. As a result, food safety and inspection services provide a holistic view of quality, safety, and acceptance.
As per latest study released by AMA Research, the Global Food Testing, Inspection, and Certification market is expected to see growth rate of 3.5%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (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 |
Influencing Trend:
Growing Prevalence of Sustainable Products, Ingredients, Packaging, and Production Methods, Rapid Development of X-ray Inspection of Food Products and Increasing Automation and Digitalization of Production Process to Eliminate Human Error
Market Growth Drivers:
Reassurance that the Products is Safe in Terms of Food Safety and Increased Adoption of TIC by Companies to Authenticate Safety in their Product, Process, and Supply Chain
Challenges:
Increased Food Contamination due to Constant Environmental Changes and Growing Bacterial Diversity Such as Viruses, Antibiotics, and Toxins
Restraints:
Due to Different Standards and Regulations across Countries, TIC Services have High Cost
Opportunities:
The Emergence of New Food Safety Standards and Regulations
Competitive Landscape:
The demand for Food TIC is Increasing with each passing day due to the constant threat of Covid19. The Companies in this industry are facing many challenges. Many worldwide and regional service providers participate in the sector and compete directly with industry leaders. It has been identified that market-leading players are investing heavily in technological development, resource utilization to boost the market position.
Some of the key players profiled in the report are UL (United States), Mérieux NutriSciences Corporation (France), Applus+ (Spain), ALS Limited (Australia), Intertek (United Kingdom), TÜV SÜD (Germany), SGS S.A. (Switzerland), Dekra (Germany), Eurofins Scientific (Luxembourg), TÜV Nord (Germany), and .... Additionally, following companies can also be profiled that are part of our coverage like Bureau Veritas (France), Neogen (United States) and Symbio Laboratories (Australia). Analyst at AMA Research see United States Players to retain maximum share of Global Food Testing, Inspection, and Certification market by 2030. Considering Market by Services, the sub-segment i.e. Testing will boost the Food Testing, Inspection, and Certification market. Considering Market by End Users, the sub-segment i.e. Consumer Goods & Retail will boost the Food Testing, Inspection, and Certification market. Considering Market by Food Test Services, the sub-segment i.e. Contaminants Testing will boost the Food Testing, Inspection, and Certification market. Considering Market by Sourcing, the sub-segment i.e. In-house Testing, Inspection, and Certification will boost the Food Testing, Inspection, and Certification market.
Latest Market Insights:
In June 2021 Intertek released a statement announcing the acquisition of JLA. The acquisition of JLA offers a strong opportunity to penetrate Brazil's fast-growing food testing sector, which is one of the world's largest industries in terms of agri-food and beverage annual production. Brazil is a major exporter of beef, poultry, soybeans, and sugar cane, all of which must pass rigorous inspection and certification procedures.
On October 27, 2023, Eurofins Scientific, a leading provider of analytical services, announces the acquisition of Food Safety Net Services (FSNS), a US-based food safety consultancy firm. This expands Eurofins' presence in the North American food safety market.
What Can be Explored with the Food Testing, Inspection, and Certification Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Food Testing, Inspection, and Certification Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Food Testing, Inspection, and Certification
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Food Testing, Inspection, and Certification market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Food Testing, Inspection, and Certification market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New Entrants/Investors, Analysts and Strategic Business Partners, Food Industry, Agricultural Industries, Government & Trade and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.