Global Food Safety Testing Market – Growth, Trends, and Forecast (2018 – 2023)

The global food safety testing market was valued at $11,122.53 million in 2016. It is expected to grow at a compound annual growth rate (CAGR) of 7.2% during 2018–2023. Some of the growth is due to the increase in food-borne illnesses due to contaminated food products. Microbiological testing often requires a long time to get results, which delays time to market of food products. Rapid testing decreased the testing time, but its high cost is affecting the market growth. Globally, incidences of food-borne diseases are increasing, and the most common cause of outbreaks are Salmonella typhi, Escherichia coli, Staphylococcus aureus, Vibrio cholera, Campylobacter and Listeria monocytogenes. The Centre for Disease Control and Prevention (CDCP) has reported that every year, one in 10 people get ill due to food-borne illness, most importantly, children under five years are at a higher risk. Major food-borne outbreaks have occurred in every continent in the past decade. Such incidences have made companies incur a heavy loss of sales and brand equity, making consumers aware of the potential health hazards. Pathogen testing dominates the food safety testing market, with fruit & vegetable testing being the largest. Recent concerns about microbial contaminants, such as E. coli and Salmonella, have driven the pathogen safety testing market. Pathogen testing is growing at a faster rate in the food safety testing market, due to the serious health effects of pathogens and the immediate impact of the quality of the foods. North America constituted the largest food safety testing market in 2016. The Asia-Pacific market is likely to record the fastest CAGR, primarily driven by the increase in testing procedures from the potential regions of China and India. Authorities, like the Food Safety and Standards Authority of India, and China Food and Drug Administration (CFDA) has been established to take serious steps toward ensuring food safety. @ https://www.researchandmarkets.com/research/7f84pz/the_global_food?w=4