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High Sales of Rapid Food Safety Testing Kits, Low Costs and Better Results to Boos the Food Safety Testing Kits Market
NEW YORK, NEW YORK, UNITED STATES, March 10, 2023 /EINPresswire.com/ — The scope of our recent study on the “Food Safety Testing Kits Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Contaminant, Technology, and Food Type” includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.
The food safety testing kits market is expected to grow from US$ 22,247.0 million in 2022 to US$ 34,142.5 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2022 to 2028. Food safety testing is a scientific analysis of food products and their contents to find information about various characteristics such as physiochemical properties, composition, and structure. The information is used to determine product safety for consumption. The rising incidence of foodborne illnesses triggers the demand for food safety testing kits. In addition, product recalls hamper the profitability and brand image of manufacturers, which compels manufacturers to adopt food safety testing kits to detect contaminants or adulterants in early stages.
According to WHO data, unsafe food causes 420,000 deaths and 600 million cases of foodborne diseases worldwide every year. Foodborne diseases are preventable, and hence, many organizations along with governments are leading coordinated actions across multiple industries to build resilient and strong food safety systems. They are heavily investing to provide consumers with tools to make safe food choices. Moreover, according to the estimates of the 2018 World Bank report, the economic burden through a total loss of productivity due to foodborne illnesses is US$ 95.2 billion per year, while the annual cost of treating these illnesses is ~US$ 15 billion. Thus, the need for food safety testing kits is increasing with the surging cases of foodborne illnesses.
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Based on food type, the food safety testing kits market is segmented into meat, poultry, and seafood products; dairy products; cereals and grains; processed food; fruits and vegetables; and others. The meat, poultry, and seafood products segment held the largest market share in 2021 and is projected to register the highest CAGR during the forecast period. The meat, poultry, and seafood products testing includes testing for contaminants and adulteration, wherein one meat type may be adulterated with other meat types. The products may be tested for ash, fat, moisture, protein/nitrogen, heavy metals, pesticides, antibiotics and drugs, salt, chloride, and nitrates and nitrites. The companies provide testing kits for meats including chicken, lamb, pork, beef, and horse meat. A few of the common techniques employed for the testing of these food types are ELISA and real-time polymerase chain reaction (RT-PCR).
The food safety testing kits market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest share of the market in 2021. However, APAC is expected to register the highest CAGR during the forecast period. The market growth in North America is attributed to the flourished food and beverages sector coupled and stringent food safety regulations in the region. In addition, consumer awareness regarding food safety norms further attributes to the market growth.
Impact of COVID-19 Pandemic on Food Safety Testing Kits Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various food manufacturing plants in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa hampered the global supply chains, which resulted in disruptions in manufacturing capabilities, delivery schedules, and sales, subsequently impacting the financial status of firms and global economy. Food & beverages suffered serious disruptions such as supply chain breaks and shutdowns of production plants. Many economies resumed their operations gradually in 2021, propelling the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them consolidate their efforts toward bridging the gap between demand and supply. Once the vaccination drives were completed, the manufacturers started to increase their production.
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Based on contaminant, the food safety testing kits market is segmented into pathogens, pesticides, toxins, GMOs, and others. In terms of technology, the market is bifurcated into traditional and rapid. The food safety testing kits market, by food type, is segmented into meat, poultry, and seafood products; dairy products; cereals and grains; processed food; fruits and vegetables; and others. Based on geography, the food safety testing kits market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
The key players operating in the food safety testing kits market include SGS SA, Eurofins Scientific, Intertek Group Plc, TÜV SÜD, AES Laboratories Pvt. Ltd., TÜV NORD GROUP, Bureau Veritas, ALS Limited, NEOGEN Corporation, and AsureQuality. These players engage in developing affordable and innovative products to meet the rising customer demands and expand their market share.
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Article originally published on www.einpresswire.com as Food Safety Testing Kits Market
originally published at Global News - Social Gov