Global Food Safety Products and Food Safety Testing Market is Expected to Reach USD 19,425.9 million and USD 4,891.9 million respectively in 2018
According to a new market report published by Transparency Market Research "Food Safety Products Market and Food Safety Testing Market: Global Industry Size, Market Share, Trends, Analysis and Forecast, 2010 - 2018," the global market for food safety products was estimated to be worth USD 10,152 million in 2010, and is expected to reach USD 19,425.9 million by 2018, growing at a CAGR of 8.6% from 2013 to 2018. Whereas, the global market for food safety testing market was valued at USD 2,566 million in 2010 which is expected to reach a market worth USD 4,891.9 million by 2018, growing at a CAGR of 8.5% from 2013 to 2018.
Some of the major factors driving the global growth of the food safety products market include growing outbreaks of food borne diseases caused due to presence of contaminants such as pathogens and chemicals in the food, stringent regulatory compliance norms and growing awareness regarding food safety among consumers.
Other factors which are impacting the overall market positively are the globalization of food supply trade which is increasing the level of cross contamination in food and food products, thus creating an increased need for food safety products and testing. However, the variation in the tests required for different food types and lack of food safety awareness in developing and under-developed countries along with a lack of uniformity among regional regulations are key factors expected to restrain the market.
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Disinfection products are the largest product type, accounting for 43% of the global market in 2011. The market for disinfection products was estimated to be worth USD 4,451.7 million in 2010 and is expected to reach USD 8,285.1 million by 2018, growing at a CAGR of 8.2% from 2013 to 2018. In terms of growth, smart labels and tags are expected to be the fastest growing product segment, growing at a CAGR of 9.1% from 2013 to 2018.
Europe was the biggest market for both food safety products and food safety testing, accounting for approximately 34% of the market revenues for both the segments in 2011, followed by North America and Asia Pacific. Asia Pacific is the fastest growing market for food safety products owing to increasing food exports, which will lead it to become the biggest market for food safety products, overtaking both Europe and North America by 2018.
This research is specially designed to estimate and analyze the demand and performance of food safety products in a global scenario. The report covers all the major segments of the global food safety testing market and provides in-depth analysis, historical data and statistically refined forecasts for the segments covered. The study presents a comprehensive assessment of the stakeholder strategies by segmenting the global food safety market as below:
Food Safety Products Market, by Types:
-Smart Labels & Tags
-Software Tracking Systems
Food Safety Testing Market, by Contaminants:
-Genetically Modified Organisms (GMOs)
Food Safety Testing Market, by Pathogens:
Food Safety Testing Market, by Food Types:
-Meat & Poultry
-Fresh & Frozen Fruits & Vegetables
Food Safety Testing Market, by Technology:
Food Safety Rapid Testing Market, by Types:
-Other Molecular-Based Methods
The report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Rest of the World (RoW)
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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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