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(MoneyNewsWire.Net, June 06, 2018 ) The top 10 Food safety testing and technologies market is projected to reach USD 39.47 Billion by 2022. The Top 10 food safety testing and technologies industry includes food safety testing market, GM food safety testing market, food pathogen testing market, meat speciation testing market, food authenticity testing market, pesticide residue testing market, mycotoxin testing market, and allergen testing market. The markets covered under water safety testing & technologies include water testing and analysis and bottled water testing.
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The growth of the food safety testing market is estimated to be high in most regions. Increase in foodborne illness outbreaks, implementation of stringent food safety regulations globalization of food supply, and availability of advanced technology capable of rapid testing are the major driving factors of this market. On the other hand, lack of food control infrastructure & resources in developing countries, and lack of awareness about safety regulations among food manufacturers are major hindrances for the growth of the market, globally. Change in lifestyles, increase in demand for convenience foods, and increase in food trade and export and import across borders in emerging markets have been key opportunities for the food safety testing market.
The global market for GM food safety testing is projected to exhibit a strong growth due to the current food shortage that the world is experiencing. Ensuring proper food and nutrient supply is the most important driver which is influencing the GM food safety testing market. GM food safety testing market is also rising due to the continuously evolving technologies used in agriculture that has resulted in a shift in farming practices. Growth in investment in the research and development of genetically modified products is another driver leading the market.
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The water safety testing & analysis market is projected to grow at a rapid pace due to stringent hygiene standards, mandatory need for pure drinking and utility water, and increase in government and private funding for tackling environmental issues. All government and private sectors across the globe are stressing on the innovation process for increasing the efficiency of water safety testing and providing incentives, financial support, advisory services, and facilities for water testing and analysis to improve and maintain the water quality for human consumption.
The major restraining factors that affect the top 10 trends in the food safety testing and technologies industry are lack of food control infrastructure & resources in developing countries and lack of awareness about safety regulations among food manufacturers. Thus, companies must be proactive and carry out food safety testing to avoid contamination. As food contamination is most likely to take place in the supply chain from production to consumption, risks can be identified by inspecting the backward flow of the supply chain.
SGS S.A. (Switzerland), Bureau Veritas S.A. (France), and Intertek Group plc (U.K.) are some of the prominent players in the top 10 trends in food safety testing and technologies industry; these companies focused on expanding their product manufacturing capacities, to cater to the large customer base to develop new products.
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