Food contamination is a growing concern in the food & beverages industry which also causes a gamut of diseases and infections. This has made food safety an important aspect in the industry which is creating a demand influx in the food safety testing market, and the total revenues generated by the sales of equipment and consumables is poised to attain a value of $7,999.62 million by the end of 2023 as the demand for the same is poised to increment at a profitable compound annual growth rate (CAGR) of 9% during the forecast period of 2019 to 2025, according to IndustryARC’s analyst.
The food safety testing market research report contains well-marshaled facts, figures, and statistics pertaining to the industry along with a segmented analysis of food safety testing equipment market and food safety testing consumables market. Furthermore, the report is also comprised of the current trends, opportunities, and challenges in the food safety testing market that are envisioned to disrupt the dynamics of the industry. The report is titled, “Food Safety Testing Equipment and Consumables Market: By Type (Chromatography Systems, Mass Spectrometry Systems, Others); By Contaminant Type (Microbiological Analysis, Allergens Analysis, Pesticides and Fertilizers, Others); By Food Type & By Geography - (2018-2023).”
Food Safety Testing Equipment Market: Leading Segments
According to the geographical analysis done by the analyst, North America had the maximum food testing equipment market share with revenue of $825.7 million as of 2017. The growth prospects for the vendors in North America food testing equipment market is due to the regulations pertaining to food safety that are enforced by the Food and Drugs Administration. North America is followed by Europe and APAC that also witnessed impressive valuations in 2017.
The food testing equipment market is segmented on the basis of the type of equipment used that includes chromatography, mass spectrometry, hybrid systems, PCR equipment, NMR, and others. Hybrid systems are used in sophisticated laboratories, and the demand for the same is estimated to grow at a CAGR of 5.3% through to 2023.
Food Safety Testing Consumables Market: Leading Segments
North America had the maximum food safety testing consumables market share with a revenue of $924.6 million in 2017 followed by Europe.
The food safety testing consumables are of different types – test kits, reagents, and general labware. The global sales of test kits are poised to witness an increment at a CAGR of 10.1% through to 2023.
Food Safety Testing Equipment and Consumables Market: Disruptive Trends and Growth Drivers
- The Growth of Food Trade Worldwide –
There is a perceptible rise in the export and import of food worldwide, and the exporting and importing countries need to comply with the criteria regarding food safety and so, there is an augmented demand for food safety testing equipment and consumables. The trade of food products warrant certification, and so, the exporters utilize this equipment and consumables.
- Increasing Contaminants in Food Driving the Demand –
The problems regarding contaminants have increased for a few years. Furthermore, bad quality food leads to food poisoning and other diseases. The banned ingredients are still used by a few F&B players due to which food safety testing has become imperative, which is driving the demand for equipment and consumables.
- Cases of Mislabeling of Food –
The ingredients and nutritional facts are more often than not changed by suppliers in order to promote their products. However, has now become mandatory that the information provided on the labels should match with the actual entities in food products. This is one of the major reasons for the burgeoning demand in the food safety testing market.
Food Safety Testing Equipment and Consumables Market: Competitive Landscape
Some of the key companies identified in the food safety testing market intelligence report that are striving to capitalize on the demand influx are Perkin Elmer, Inc., Qiagen N.V., Shimadzu Corporation, Thermo Fisher Scientific, Inc., Roka Bioscience, Biomerieux SA, Bruker Corporation, Waters Corporation, 3M Company, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Ametek, Inc., Danaher Corporation, Elisa Technologies, Inc., Foss A/S, Idexx Laboratories, Inc., Neogen Corporation, and Charm Science, Inc.
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