The food safety testing and technologies market is projected to reach $39.47 billion by 2022, thanks in part to these Top 10 trends, according to "Top 10 Food Safety Testing and Technologies Trends (Food Safety, GM Food Safety, Food Pathogen, Meat Speciation, Food Authenticity, Pesticide Residue, Mycotoxin, Allergen, Water, and Bottled Water) - Global Forecast to 2022," a report published by Markets and Markets, New York.
The food safety testing and technologies market encompasses a variety of testing technologies, including food safety testing, GM food safety testing, food pathogen testing, meat speciation testing, food authenticity testing, pesticide residue testing, mycotoxin testing and food allergen testing. The markets covered underwater safety testing and technologies for water testing and analysis and bottled water testing.
The meat speciation testing market is projected to grow at the highest CAGR of 8.2% to reach a value of $2.22 billion by 2022. The pathogen testing market is the largest market, and is projected to reach $12.54 billion by 2022.
The food safety testing market is estimated to be valued at $12.01 billion in 2016. The various factors that drive the food safety testing market include worldwide increase in foodborne illness outbreaks, implementation of stringent food safety regulations by the government and availability of advanced technologies capable of rapid testing. Globalization of food supply that has resulted in an increased export and import of food products and agricultural commodities worldwide is another driver influencing this market.
The global mycotoxin testing market is projected to grow at a CAGR of 6% to reach a value of $1.56 billion by 2022. Growth in awareness of consumers with regard to food safety is the most important driver for this market. There have been several food recalls due to the presence of mycotoxin in food, resulting in increased attention toward this market. Government regulations also play a major driver in this market, as several countries have stringent government regulations, and regulatory authorities check if the food product is free from mycotoxins and fit for human and animal consumption.