Global Food Safety Testing Market to Witness a Pronounce Growth During 2025
North America accounted for the largest market share in global food safety testing market in 2016 and is anticipated to maintain its supremacy throughout the forecast period due to stringent regulations imposed by the regulating bodies on food safety. In addition, the Food and Drug Administration (FDA) has authorized consumers to raise concern regarding the safety of food or beverage item and take that up with the manufacturers in case of any discrepancy. U.S. is the major contributor for the growth of the food safety testing market in North America. High consumer awareness regarding various types of food borne diseases and the benefits of food safety is a major factor propelling the growth of the food safety testing market in the U.S. Further, stringent government regulations with respect to food safety coupled with rapid implementation of the same is another key factor boosting the demand for food safety testing in that region.
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Asia Pacific is anticipated to be the fastest growing market for food safety testing. Increasing consumer awareness about food safety coupled with rising initiatives taken by the regulating bodies regarding food borne diseases and it’s after effects on human health and the benefits of food safety testing. India, China, and Japan are expected to dominate the food safety testing market in Asia Pacific throughout the forecast period on account of rapid urbanization, changing consumer lifestyle in terms of their feeding habits and the rising processed food industry in these countries.
The global food safety testing market was valued at US$ 10.66 Billion in 2016 and is expected to witness a CAGR of 7.4% in terms of revenue during the forecast period of 2017 – 2025.
Major Players in the Global Food Safety Testing Market
Some of the major players operating in the field of food safety testing market include Intertek Group plc, Eurofins Scientific, SGS SA, Bureau Veritas, Det Norske Veritas, ALS Laboratory, Bio-Rad Laboratories and various others.
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