Food Safety Testing Kits Market Forecast (2024-2031)
The Food Safety Testing Kits Market size is projected to reach US$ 42.14 billion by 2031 from US$ 23.83 billion in 2023. The market is expected to register a CAGR of 7.4% in 2023–2031. Significantly growing food & beverages industry is likely to remain key food safety testing kits market trends.
Food Safety Testing Kits Market Analysis
All antibiotics and other antimicrobials are used to treat infections caused by bacteria. The misuse and overuse of antimicrobials in human and veterinary medicine has been linked to the emergence of resistant bacteria rendering the treatment of humans and animals ineffective. Antimicrobial medicine is identified as one of the biggest threats to modern medicine. Therefore, it has become extremely important to detect the contaminants beforehand and prevent them from entering the food chain. Thus, the importance of food safety testing kits has been increasing globally in terms of volume. Moreover, the decline in food service demand for oilseeds and grains harmed sales during 2020, the reopening of global foodservice platforms and higher selling prices is expected to boost the food safety testing kits market growth over the forecast period.
Food Safety Testing Kits Market Overview
Food safety testing is a scientific analysis of a food product and its contents to find information about various characteristics such as physiochemical properties, composition, and structure. The information is used to determine the safety of the product for consumption. The rising prevalence of foodborne illnesses demands food safety testing for all food and beverage products to prevent health hazards, which boosts the growth of the food safety testing kits market.
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Food Safety Testing Kits Market: Strategic Insights
Market Size Value in US$ 22,247.0 Million in 2022 Market Size Value by US$ 34,142.5 Million by 2028 Growth rate CAGR of 7.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Food Safety Testing Kits Market: Strategic Insights
| Market Size Value in | US$ 22,247.0 Million in 2022 |
| Market Size Value by | US$ 34,142.5 Million by 2028 |
| Growth rate | CAGR of 7.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Food Safety Testing Kits Market Drivers and Opportunities
Ascension of Global Food and Beverage Industry to Favor Market
The food and beverages industry is all companies involved in distributing, packaging, and processing of food materials. This includes non-alcoholic beverages, alcoholic beverages, packaged foods, and fresh foods. Almost all products meant for human consumption, excluding pharmaceutical products, are included in this industry. The food and beverage industry is becoming increasingly focused on mechanical manipulation and technology to create more value-added products. Moreover, with population growth and rising middle class in developing countries, the demand for variety of food products is increasing. Thus, with growing food & beverage industry driving the food safety testing kits market growth.
Rising Milk Consumption – An Opportunity in Food Safety Testing Kits Market
The dairy sector is one of the most vulnerable sectors to foodborne illnesses as dairy products harbor a variety of microorganisms. As pasteurization may not destroy all pathogens in milk, testing of milk becomes essential to ensure safety. Milk is also one of the products that is consumed daily in large quantities all over the world. Thus, the high milk consumption leads to a higher volume of food safety testing kits driving the market further.
Food Safety Testing Kits Market Report Segmentation Analysis
Key segments that contributed to the derivation of the food safety testing kits market analysis are contaminants, technology, and food type.
- Based on contaminants, the food safety testing kits market is divided into pathogens, pesticides, toxins, GMOs, and others. The pathogens segment is further sub-segmented into Salmonella, E. coli, Listeria, Campylobacter, S. aureus, and others. Pathogen segment held a larger market share in 2023.
- Based on technology, the market is bifurcated traditional and rapid. The rapid segment is categorized into PCR-based testing, immunoassay-based testing, LAMP, and others.
- In terms of application, the market is segmented into meat, poultry, & seafood products; dairy products; cereals & grains; processed food; fruits & vegetables; and others. The meat, poultry, & seafood products segment dominated the market in 2023.
Food Safety Testing Kits Market Share Analysis by Geography
The geographic scope of the food safety testing kits market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The food safety testing kits market in North America is significantly In North America, the food safety testing kits market is currently in the growth phase and experiencing exponential growth. North America is a major hub for food processing. According to the US Food and Drug Administration (FDA), 99,451 domestic food facilities were registered as of September 2022, in the US. Countries in North America have strict regulatory bodies pertaining to food safety the high quantity of food processing in the region is expected to affect the food safety testing kits market growth positively.
Food Safety Testing Kits Market Report Scope
Food Safety Testing Kits Market News and Recent Developments
The food safety testing kits market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:
- In May 2021, Eurofins Food and Water Testing UK & Ireland announced the acquisition of Alliance Technical Laboratories (ATL) Ltd. The acquisition will improve the company’s food, water, and feed testing service provision in the Southeast and is part of its planned strategic growth agenda. (Source: Eurofins, Press Release)
- In June 2021, SGS announced the opening of its new food testing laboratory in Papua New Guinea. The new laboratory offers internationally recognized quality testing to the food manufacturing, hospitality, and retail market segments. The facility offers a wide range of testing services, such as food microbiology indicators, food microbiology pathogens, water microbiology, and water chemistry. (Source: SGS, Newsletter)
Food Safety Testing Kits Market Report Coverage and Deliverables
The “Food Safety Testing Kits Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Contaminant, Technology, and Food Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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