Global Food Safety Products Market to Rise at 8.6% CAGR from 2010 to 2018

Transparency Market Research (TMR) has published a new market study, titled “Food Safety Products Market And Food Safety Testing Market – Global Industry Size, Market Share, Trends, Analysis And Forecast 2010 – 2018.” As observed by analysts at TMR, the global food safety products market, which stood at US$10.1 bn in 2010, is projected to be worth US$19.4 bn by 2018, expanding at a CAGR of 8.6% therein. Similarly, the global food safety testing market, which stood at US$2.5 bn in 2010, is expected to be worth US$4.8 bn by the end of 2018, registering a CAGR of 8.5% from 2010 to 2018.

The report points out that the increasing incidence of food-borne diseases and ailments that are associated with the presence of contaminants such as chemicals and pathogens is one of the major factors bolstering growth of the global food safety products market. In addition, rising awareness among consumers about consumption of qualitatively tested food and stringent regulatory norms that food manufacturers need to adhere to are favorable for the growth of the global food safety products and safety testing market.

On the contrary, the report also points out factors that are restraining the market’s growth. In developing and underdeveloped countries, lack of awareness among consumers about qualitative indices pertaining to food safety leads to product manufacturers not being strictly required to adhere to food safety regulations. Moreover, absence of standard compliance regulations for food safety at a regional level allows product manufacturers to expand operations and also leverage existing opportunities in the market.

By product, disinfection products were the largest segment and held a 43% share in the global market in 2011. This product segment, which had a valuation of US$4.4 bn in 2010, is poised to be worth US$8.3 bn by 2018, expanding at a CAGR of 8.2% for the period. However, smart labels and tags are expected to register the fastest growth at a CAGR of 9.1% from 2010 to 2018.

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In terms of contaminant segmentation, the pathogens segment led the market, accounting for a 34% share in the global market in 2011. This is mainly due to their ubiquitous presence in meat and poultry food products. This segment was trailed by GMOs, toxins, and pesticides contaminant segments. Accounting for almost 42% of tests conducted for food safety, salmonella was registered as the leading pathogen in 2011.

In terms of the geographical breakdown of the global food safety products and food safety testing market, Europe contributed 34% of the revenue in the global market in 2011. This was followed by North America and Asia Pacific. However, according to the report’s findings, Asia Pacific will exhibit an exorbitant demand for food safety products and food safety testing to emerge as the fastest developing regional market by the end of 2018.

The report mentions top players in the market, namely Thermofischer Scientific, Douglas Scientific, Roka Bioscience, Bio-Rad Laboratories Incorporated, Biocontrol Systems Incorporated, Agilent Technologies Incorporated, IDDEX Laboratories INC., and Ecolab Incorporated.

The global food safety products and food safety testing market is segmented as follows:

Food Safety Products Market, by Types:

• Disinfection Products
• Diagnostic Products
• Disposable Gloves
• Smart Labels & Tags
• Software Tracking Systems

Food Safety Testing Market, by Contaminants:

• Pathogens
• Pesticides
• Genetically Modified Organisms (GMOs)
• Toxins
• Others

Food Safety Testing Market, by Pathogens:

• Listeria
• Salmonella
• Coli
• Campylobacter
• Others

Food Safety Testing Market, by Food Types:

• Processed Foods
• Meat & Poultry
• Dairy Products
• Fresh & Frozen Fruits & Vegetables
• Others

Food Safety Testing Market, by Technology:

• Traditional Methods
• Rapid Methods

Food Safety Rapid Testing Market, by Types:

• Convenience-Based Methods
• Immunoassay-Based Methods
• PCR-Based Methods
• Other Molecular-Based Methods

Food Safety Products Market, by Geography

• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)