Rapidly growing consumer awareness boosting demand for food safety testing services
Consumers are highly concerned about the safety, quality, and authenticity of nearly every food product they buy. The increasing awareness regarding balanced nutrition and food safety is a key factor which is leading to an increased demand for food safety testing services all over the globe. Moreover, the media has generated a sense of consciousness regarding food quality and its benefits among common masses. The need for improved food safety techniques has been stimulated with the rapid adoption of protected agriculture and precision agriculture practices.
Contamination levels are being constantly increased with the globalization of food supply. In addition to this, drastically growing adulteration levels in order to improve product shelf life are the major factors which are expected to result in exponential market growth over the forecast period. Factors leading to contamination include inappropriate handling, unsuitable storage, and under-cooking.
Changing consumer lifestyle and taste preferences for international cuisines are encouraging the food supply chain recognition and improvement. A constantly rising number of disease outbreaks owing to increased food poisoning cases has been experienced by various developing economies globally. The key market players are experiencing escalating demand for food safety testing services as a result of health concerns among the consumers and stringent government standards. According to a research, in the United States, foodborne diseases have been estimated to cause 6 million to 81 million illnesses and up to 9,000 deaths each year, causing the food safety testing industry to flourish in the region.
The rapidly growing population has led to the rise of import and export of food products. This, in turn, has increased the level of adulteration, owing to inadequate monitoring and control of the manufacturing units, subsequently giving a rise to the demand for food safety products. The processed food industry is witnessing a substantial growth globally, as a result of busy lifestyle and rising per capita disposable income in emerging economies of Asia Pacific and Latin America. Food safety testing is an essential practice under processed food category, thus driving demand significantly. Globally, various governments have taken strong decisions in establishing strict rules and regulations, which will boost the adoption of food safety testing among numerous international and domestic market players.
As per revelations have done by Esticast Research and Consulting, Food poisoning hits an estimate of 48 million people in the United States, per year. Among major meat products, beef has emerged out as a prime cause of foodborne disease outbreaks. North America occupied the largest portion of food safety testing market globally and produced a revenue of $4.5 Billion in 2016. However, the key factors such as emerging economies with high disposable incomes and the continuously growing population will lead the Asia-Pacific food safety testing market to propagate swiftly, at a CAGR of 8.3% during the forecast period of 2016-2024.