Precedence Research predicts that the global food safety testing market that was $17.43 billion in 2019 will reach $32.21 billion by 2027, at a CAGR of 7.2% during the forecast period 2020 to 2027. Different rules under the Food Safety Modernization Act have increased the need for testing. The growth is attributed to growing occurrences of food-borne diseases that have forced to implement stringent food safety regulations worldwide. Also contributing is the Increase in sales of processed and packaged food in developing and developed nations. The increasing popularity of quick-service restaurants and varying lifestyles is expected to push the requirement for safety testing. The microbiological testing segment had a sizable revenue share in 2019. Genetically modified organism testing is estimated to show the largest growth. Europe had 35.3% of the food safety revenues in 2020. Asia Pacific is projected to gain market share. The Food Safety and Standards Authority of India used about $72.3 million in food testing infrastructure. The global food safety testing marketplace is a very fragmented market. @ https://www.precedenceresearch.com/food-safety-testing-market
Food safety market research predicts that the food safety testing market will expand to $32.21 Billion by 2027
Food Safety Testing Market Size to Hit USD 32.21 Bn by 2027
The global food safety testing market size reached at USD 17.43 billion in 2019 and projected to hit over USD 32.21 billion by 2027, at a CAGR of 7.2% during forecast period 2020 to 2027.