27 Jun 2013 Global food safety testing market worth $14bn by 2018

The global food safety testing market is projected to grow from $9,2bn in 2012 to $14bn at a CAGR of 7.2% by 2018. In 2012, North America was the largest food safety testing market with 40% of share, according to a new research report.

The report “Food Safety Testing Market By Contaminants (Pathogen, GMO, Toxin, Pesticide, Others), Technology (Traditional & Rapid), Food Types (Meat & Poultry, Dairy, Fruit & Vegetable, Processed Food, Others) & Geography – Global Trends Forecast to 2018 “, defines and segments the global food safety testing market with analysis & forecasting of global revenue & volume for food safety testing.

Report producer, MarketsandMarkets, a global market research and consulting company based in the US, says the global food safety testing market has been growing significantly due to increased outbreak of food poisoning caused by contaminated food, and the commensurate introduction worldwide of numerous regulations, laws and standards to assure the safety of manufactured food.

These include the likes of GMP, GAP, and HACCP that are practiced by food companies to ensure the manufacture safe, standard quality food products. Food safety testing is performed during every stage of the food supply chain ie, procurement, processing, packaging, storage, and transportation etc.

Globalisation in food supply trade and increasing consumer awareness on food safety has also been driving the market.

In 2012, some trends in the food safety testing market include:

• Dominated by testing of pathogens, as pathogen contamination has caused maximum cases of food poisoning.
• During the same period, most of the food recalls in US were registered due to salmonella contamination.
• Unsurprisingly, meat and poultry accounted for 28% of global food safety testing market – due to their high susceptibility for microbial contamination.
• GMO testing is expected to increase further due to the growing concern for safety of GM foods.
• Market players have been focusing on application of rapid testing methods that provide quick and accurate qualitative and quantitative results on contaminants. Rapid testing was dominated by PCR-based methods that performed 189.1 million tests, followed by immunoassay-based methods.
• The global food safety testing market is projected to grow from $9,262.3 million in 2012 to $14,030.2 million at a CAGR of 7.2% by 2018.
• North America was the largest food safety testing market with 40% of share, wherein US dominated this market and is projected to reach $4,004.5 million by 2018.
• The leading players in the food safety testing market include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group (UK), and DNV (Norway). These companies have focused on introducing new product and services, mergers, acquisitions, and the expansion of their business segments to maintain their position in the market.

See more at: http://www.marketsandmarkets.com/Market-Reports/food-safety-365.html