May 18, 2024
Food Safety Products And Testing Market

The Global Food Safety Products And Testing Market Is Driven By Rising Health Concerns

Food safety products and testing play a key role in ensuring the safety and quality of food items. This includes tools that enable microbiological, nutritional and contaminant testing of various foods including meat, poultry, seafood, dairy, processed items and beverages. Growing awareness about foodborne illnesses and stringent standards for food safety across the globe has driven the demand for these products. Food safety testing is conducted to detect pathogens, toxins, chemical residues and abnormal chemicals in food products. The results of these tests ensure compliance with regulatory guidelines for public health protection.

The global Food Safety Products and Testing Market is estimated to be valued at US$ 1188.82 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the food safety products and testing market is the rise of rapid testing methods. Earlier microbiological testing used to take 5-7 working days but now more rapid alternatives like polymerase chain reaction (PCR) and enzyme linked immunoassay (ELISA) have reduced detection time to 1-2 days. Rapid methods are seeing higher adoption as they provide timely results and avoid loss due to spoilage before conclusive results. Furthermore, advancements in technology have led to development of portable devices that can detect multiple pathogens on-site within few hours. This makes on-spot testing viable for various end-use industries. The trend towards simplified, faster and portable analysis techniques will continue to drive innovations in food safety testing.

Porter’s Analysis

Threat of new entrants: Low due to high capital requirement and established distribution channels of existing players.

Bargaining power of buyers: Moderate as there are many players in the market offering substitutable products.

Bargaining power of suppliers: Low because raw materials are easily available and switching costs are negligible.

Threat of new substitutes: Moderate as new testing technologies can disrupt the market.

Competitive rivalry: High due to presence of established players like Ercros, CCP, Celanese competing on price and quality.

Key Takeaways

The Global Food Safety Products And Testing Market Size is expected to witness high growth. The global Food Safety Products and Testing Market is estimated to be valued at US$ 1188.82 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.

Regional analysis: North America leads currently with over 30% market share owing to FDA mandates on testing of meat, dairy and other products. Asia Pacific is expected to witness fastest growth due to rising food production and consumption in countries like China and India. stricter safety norms by governments will further drive the demand.

Key players: Key players operating in the Food Safety Products and Testing Market are Ercros, CCP, Celanese, LCY Chemical, Nantong Jiangtian, Hebei Jintaida Chemical, Shangdong Aldehyde Chemical, Yinhe Chemical, Shouguang Xudong, LINYI TAIER, Merck, Mitsubishi Gas Chemical, Chemanol, Xiangrui Chemical, Caldic. Players compete on offerings, pricing, innovation and regulatory approvals.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it