Food Testing Market - Forecast(2020 - 2025)
Food Testing Market Overview:
According to the World Health Organization, around 600 million people fall ill due to consumption of contaminated food every year. Around 33 million people die due to foodborne diseases every year and 1 out of every 10 humans suffers from a foodborne illness[1]. These statistics are staggering and highlight on the imperativeness of a system that filters healthy food from the inconsumable stock. The food testing market is here to change this and provide access to healthy food that does not affect a person’s appetite or health negatively. Over the years, food testing has been pivotal in bringing forth several incidences of contamination in highly consumed products. In 2017, Nestle India was criticized publicly for reported addition of lead in one of their prime products called Maggi. This was made possible through the power of food testing methods which brings forward the presence of contamination in our foods.
The food testing market demand is estimated to grow at a noticeable compound annual growth rate (CAGR) of 5%-6% during the forecast period of 2019-2025. This will be a considerable development from its market size in 2018 which stood between $5,800 million to $6,300 million.
Food Testing Market Outlook:
Food testing is an elaborative process which depends on scientific methods to analyze the different problems associated with food. The main objective is to recognize if there is any amount of contamination present in either the raw produce or the final product before it is released into the market for sales. One of the key benefits of food testing is assessing the shelf life of a product. If not for adequate food testing, we wouldn’t be depending on expiry dates and constituents list for our dietary requirements. America, with its consistent research, is the geographical leader of the food testing market. It had a regional share of 34%-36% in the year 2018 and is expected to make more progress during the forecast period of 2019-2025. Food testing in America is in accordance with the rules laid out by the Food and Drug Administration (FDA), because of which nearly all packaged or frozen foods in the country come with a label called ‘Nutrition facts.’ The number of nutrients and calories per 100 gm are listed on this label for encouraging informed purchasing.
Food Testing Market Growth Drivers:
- Food Safety Is A Pertinent Issue
Food borne illnesses is one of the primary causes of deaths in the world. With a growing culture of availability of restaurants, supermarkets, and takeout menus, food testing is a prerequisite, one that the food and beverage industry should follow without fail. Frozen food items, for example, require thorough food testing for determination of shelf life and anticipatory microbial activity. Without that, it would be impossible to sell these products in the market.
- Society Is Becoming Increasingly Conscious Of Their Food
With a consistent rise in disposable income, consumers have become aware of what they are eating and the nutrient quantity and quality present in the foods they buy. Consumers are inclining towards organic produce which is free from any pesticides, allergens, or pathogens. Nearly all packaged food has a label listed with the ingredients and nutrients present in it. This helps the food testing market grow to a large extent as the entire consumer base’s trust lies in what the laboratories are assessing.
Food Testing Market Challenges:
A pertinent challenge with the food testing market is the countries making licenses mandatory for testing companies. Canada for example, with its Safe Food for Canadians Act has made licenses compulsory and other countries are following the same path. Abiding by the law and obtaining a license by the key market players is the only legal way to combat this challenge.
Food Testing Market Key Players Perspective:
Some of the key market players in the food testing market are Agilent Technologies Inc., Thermo fisher Scientific Inc., Shimadzu Corporation, PerkinElmer Inc., SGS SA, Eurofins Scientific, Intertek Group plc. Bureau Veritas, and A Microbac.
Agilent Technologies Inc, the leading player in the food testing market performs a plethora of food testing including Polymerase Chain Reaction testing, chemical and nutritional testing, food packaging testing, GMO detection services, microbiology testing, residue- contaminants testing and most importantly, testing of arsenic in all the food items.
Food Testing Market Trends:
- Smart Testing Devices In The Market
Though food testing has largely been limited to laboratories, and scientific researchers, the technology is now passing on to the general public. Several technology companies are coming up with products in the market that common people can use to assess their food with. Inspecto, an Israeli food technology startup has developed a scanner device that allows people to test their food in real time. Any food item can be scanned under the device which detects contaminants and focuses on the promotion of transparency.
- Usage Of Blockchain Technology
Inclusion of blockchain technology is the newest development in the field of food testing. International Business Machine Corporation (IBM) has developed IBM Food Trust Platform, a one of a kind online interface that aims to improve transparency when it comes to food contamination. Built on the blockchain, it uses this technology to track supply chains for implementing recalls if food contamination is detected. This prevents food wastage on a massive scale and builds consumer trust.
Food Testing Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the food testing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the food testing market and their specific applications in different areas.
Food Testing Market Report: Industry Coverage
Food testing market can be segmented on the basis of the test, technology, food, and geography. By type, the market can be divided into microbiology, allergen, pesticides, fertilizers, and others. Based on technology, the market can be bifurcated into Chromatography, PCR, Immunoassay, and others. By food, the market is divided into dairy products, grains, and meat & poultry.
The food testing market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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