The market for services related to food safety testing is anticipated to be worth $14,824.4 million in 2022. By the end of 2032, the market for food safety testing services is projected to be worth over US$ 28,701.8 million, growing at a 6.83% CAGR between 2022 and 2032.
Food safety testing is a process that involves the use of various technologies and methods to determine the risk factors associated with the consumption of a food item. Food safety testing is often carried out by specific agencies organized by the government of a country to scrutinize and ensure that food products comply with the food safety regulations of the country to protect the public health.
With the rise in demand from both consumers and food regulatory agencies to ensure that food products from the food and beverage industry are safe for consumption, the global food safety testing market is estimated to witness significant growth over the foreseeable period. The food and beverage industry will have to ensure the food products manufactured are healthy for consumption.
Food Safety Testing Services Market Growth Drivers
Over the years, there has been significant concern from consumers, governments, and health agencies regarding the rise in the number of food-borne diseases, adulteration, and toxicity. Reports from the Centre for Disease Control and Prevention (CDCP) revealed that the increase in mortality, especially among children, is due to the consumption of unsafe food. This factor triggered the need for the regulation of food products globally. The rise in consumers’ interest in quality food is a significant factor driving the growth of the food safety market in developing countries like China, India and Japan.
Furthermore, the outbreak of the current pandemic has fostered the need for testing food products globally. Consumers are conscious of their health during the C0VID-19 pandemic because of the volatility of the disease. This factor will continue to boost the food safety testing industry globally even after the pandemic is over. Although, there might be a little decline in the market but it doesn’t have a significant effect on the growth of the the market. Government stringent regulations are also a force driving the industry forward and its impact is long lived.
Food Safety Testing Services Market Restraint
The global food safety testing services market is not without its challenges. The lack of awareness among major market players about food safety regulations is a crucial force hampering the market growth. Also, the lack of necessary infrastructure, especially in developing nations, is projected to cause the market to decline in growth globally. The governments of several nations have not provided the basic infrastructures required for testing food products.
Furthermore, the cost of purchasing food safety testing items is high and not not industries can afford it. This factor is a big threat to the global food safety market and is expected to restrain the market from driving forward over the foreseeable period.
Food Safety Testing Services Market: Region-wise Analysis
North America is the largest market for the food safety testing market owing to the regulatory bodies’ stringent regulations in the region. Also, the rise in the production of food products within the region is a driving force moving the market forward.
Aisa Pacific and Europe are estimated to register robust growth in the food safety testing market due to the rise in demand for processed food and the increase in awareness regarding health consciousness among consumers. The rise in disposable income in countries like China, India and Japan is expected to fuel the growth of food safety testing market within the Asia Pacific region.
Talk with Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-257
