According to Transparency Market Research, a leading market intelligence firm, the global market for food safety products is expected to rise at a CAGR of 8.6% from 2010 to 2018, while the market for food safety testing is expected to exhibit a CAGR of 8.5% in the same timeframe.
Disinfection Products, Pathogen Testing Segments Lead Respective Markets
Among the various products in the global food safety products market, the segment of disinfection products took up a leading share of 43% in 2011. The market for disinfection products was valued at US$4.4 bn in 2010 and is expected to almost double in valuation at an 8.2% CAGR by 2018. Despite the unchallenged domination of the disinfection products segments, the segment of smart labels and tags is expected to exhibit the highest CAGR of all product segments – 9.1% from 2010 to 2018. Other major product segments of the food safety products market are diagnostic products, software tracking systems, and safety gloves.
Within the food safety testing market, pathogen testing is the dominant category, with a 34% share in 2011. Pathogens are abundantly present in commonly consumed food products such as dairy and meat products, leading to the high demand for pathogen testing. Salmonella emerged as the dominant pathogen type, with around 42% of food safety tests conducted to detect pathogen activity being aimed at preventing salmonella outbreaks. Listeria is the second largest pathogen segment, while testing for E. coli is expected to increase at the highest CAGR in the coming years.
Rising Demand for Processed Food Boosts Food Safety Testing Market
Processed food was the most tested food type in 2011, with 36% of all food safety testing taking place on processed food. The rising globalization of the food trade and rising preference for Western foods in developing Asia Pacific and African markets are responsible for the high demand for testing of processed food.
Dairy products are the second largest consumers of food safety testing, with a 22% share in the global food safety testing market in 2011. The rising consumption of milk around the world and increasing export of more durable dairy products have led to rising demand for food safety testing in the dairy trade.
Stringent Regulations Drive Europe Food Safety Products and Testing Market
The Europe market for food safety products and testing accounted for 34% of the collective revenue in the global market in 2011. The stringent food safety protocols put in place in several European countries are responsible for the high share of the Europe market for food safety testing and products. However, the rising import and production of various food products in Asia Pacific is expected to boost the regional market for food safety products and testing; Asia Pacific is expected to be the fastest-growing regional market for food safety products and testing till 2018.