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  • Published In : Mar 2024
  • Code : CMI753
  • Pages :170
  • Formats :
      Excel and PDF
  • Industry : Food and Beverages

Market Size and Trends

The food safety products and testing market is estimated to be valued at USD 2.43 Bn in 2024 and is expected to reach USD 4.09 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

Food Safety Products and Testing Market Key Factors

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The market is expected to witness significant growth over the forecast period. Stringent government regulations around food safety and hygiene are expected to drive increased demand for food safety products and testing. Growing instances of foodborne illness outbreaks are also compelling food producers and manufacturers to strengthen their food safety controls by opting for advanced testing equipment, kits, and services. Furthermore, the COVID-19 pandemic has raised awareness around health security and food safety, accelerating the adoption of testing and equipment across the food industry. Rapid technological advancements are also enabling improved detection methods and accuracy of food contamination testing. Wider access to hi-tech testing facilities globally through collaboration between public and private entities will further support the market expansion through 2031.

Concerns Regarding Foodborne Illnesses

As consumers have become more aware of food safety issues and concerns of contracting foodborne illnesses, the demand for ensuring the quality and integrity of the food supply has increased tremendously. In recent years, there have been several high profile outbreaks of foodborne diseases linked to contaminated foods that have caused illnesses and even deaths. The human and economic costs of foodborne diseases are enormous. It is estimated that each year in the U.S. alone, foodborne diseases cause around 76 million illnesses, 325,000 hospitalizations and 5,000 deaths. Some of the more common foodborne pathogens that pose serious risks include Salmonella, E. coli, Listeria monocytogenes, and Campylobacter amongst others. The effects of these illnesses can range from relatively mild gastroenteritis to more serious conditions like Guillain-Barré syndrome or even life threatening complications in high-risk groups such as young children, pregnant women, elderly, and immuno-compromised individuals. The human suffering and emotional trauma caused due to these diseases is difficult to quantify. Furthermore, the economic burden on the healthcare system and lost productivity is substantial. The costs associated with recalls of contaminated foods, litigation and damage to brand reputation also runs into millions for the food industry. With the increasing globalized and interconnected nature of the food supply chain, outbreaks can potentially have massive widespread effects.

/p>Implementation of Preventive Controls

Another major factor propelling the food safety products and testing market growth is the strengthening of regulatory standards and compliance requirements globally to improve prevention and control of food safety hazards. For instance, in the U.S., the Food Safety Modernization Act (FSMA) signed in 2011 introduced sweeping reforms focused on shifting the regulatory approach from reactive to preventive. FSMA placed increased responsibility on food companies to implement comprehensive food safety plans based on hazard analysis and risk-based preventive controls.

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