Latest Regulatory Trends Impacting the Food Safety Testing Market
Posted: Aug 06, 2020
The report "Food Safety Testing Market by Target Tested (Pathogens, Pesticides, GMOs, Mycotoxin, and Allergens), Technology (Traditional and Rapid), Food Tested (Meat, Poultry, Seafood, Dairy, Processed Foods, and Fruits & Vegetables), and Region-Global Forecast to 2023?, published by MarketsandMarkets™. Consumers are becoming more sensitive about the impact of food products on their health. With the increasing prevalence of various diseases across regions, consumers are diverting their expenditure toward food products that are certified for their safety and quality. To align with consumer preferences and requirements, manufacturers are focusing on allocating their investments on food safety testing services to ensure the safety of consumption. By 2023, the food safety testing market is projected to reach USD 24.6 billion, recording a CAGR of 7.7% from 2018.
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The European market accounted for the largest share in the food safety testing market. European countries have recorded many issues related to food safety over the past few years. As a result, stringent policies have been regulated to implement complete food safety for the public. In Europe, food safety policies have been emphasized by efforts from Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). These authorities have played an important role in maintaining food standards and protecting consumer health by ensuring the quality of the food supply chain. Asia Pacific region is projected to be fastest growing market during the forecast period. The growth in the market is attributed to the growing international trade which has mandated food safety testing to comply the regulatory standards. Governments from different countries in the region have put various regulations in place for consumers, producers, and regulators to ensure the food safety and quality which in turn is fueling food safety testing market.
Stringent food safety regulations
Growing complexities in the food supply chain, economically motivated malpractices, instances of adulteration, lack of adoption of proper hygiene & sanitation practices during production, transportation & storage, lack of awareness about allergens, instances of cross-contamination, non-compliance with labeling laws, and other such factors have resulted in increasing instances of contamination of food products and are responsible for large-scale outbreaks of illnesses and poisoning in humans. This has caused severe concerns among producers, end consumers, regulatory authorities, and other industry stakeholders.
Globalization in food trade
Globalization has had a major impact on food supply worldwide and has increased the global import & export of food products and agricultural commodities. This has further increased the risk of unsafe food reaching consumers in distant markets due to instances of cross-contamination, exposure to toxins, microorganisms, and other contaminants. Due to this increase in food supply trade and inefficient supply chains, food spoilage becomes an important concern. Globalization has also resulted in increased involvement of food supply members such as suppliers, distributors, operators, producers, and consumers. Suppliers receive the food safety guidelines, and the operators set the quality expectations, while the distributors act as an intermediary between the suppliers and operators. The producers receive food safety standards and guidelines from suppliers, while the consumers set the food safety and quality expectations for the operators.
Rise in consumer awareness about food safety
Consumer awareness plays a vital role in implementing the quality and safety procedures of food products through various means, such as labeling, claims, and nutritional facts. Consumers have been educating themselves regarding food-related issues, such as various contaminants, allergens, physiological reactions due to toxins, and effects of processed and stored food on the body through various social media platforms and consumer regulatory acts. Consumer awareness has also been growing with the increased media focus on food safety concerns. Media attention on the information related to consumer demand for food safety has led food producers, manufacturers, and processors to respond to these issues. The shifting demographics and rising consumer awareness highlight the need to make food safety a priority. Consumer demand for imported seasonal products and RTE food has been increasing.
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Some of the leading players in this market include Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), Intertek (UK), and SGS (Switzerland).
Ongoing advancements in technology have encouraged key companies and market leaders to focus on offering products with food safety labels, to retain customer loyalty and enhance their presence across regions. These factors, together, are likely to provide the necessary impetus for the growth of the global food safety testing industry over the forecast period.
Market Research Report Analyst and Consulting