$18.5 Bn Food Safety Testing Market 2017 - Global Forecast to 2022

The food safety testing market is projected to grow at a CAGR of 7.60% from 2017, to reach a projected value of USD 18.54 Billion by 2022

The growth of this market can be attributed to the global rise in foodborne outbreaks, advancements in testing technologies, globalization of food supply, and stringent international food safety regulations.

Rapid technologies accounted for a larger market share in 2016. The rapid segment is mainly driven by their multifunctional nature. Rapid technologies have multiple applications in the food industry and are used to check the count, type, and metabolites of microorganisms related to food spoilage, preservation, fermentation, safety, and foodborne pathogens. The increasing significance of rapid technologies offering easy-to-use, efficient, and quick results has greatly enhanced their functionality. Smooth and efficient testing is promoted by using rapid technologies in the food industry.

North America accounted for the largest market share in 2016, and this can be attributed due to the increase in outbreaks of foodborne illnesses and stringent well-established regulations pertaining to food safety. Asia Pacific is projected to be the fastest-growing region from 2017 to 2022, due to its large market base for food & beverages, improved standards of living due to the rise in income levels, and increased awareness about food safety in the region.

Developed countries are heavily investing in the advanced technologies for food safety testing, whereas developing countries have been much slower in incorporating the latest technologies. The lack of food control infrastructure & resources in developing countries and lower awareness about food safety regulations among food manufacturers limit the use of food safety testing in the food industry.

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Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/kc7766/food_safety

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