Global Markets and Technologies for Food Safety Testing

July 27, 2012

Wellesley, Mass. – According to a new technical market research report, GLOBAL MARKETS AND TECHNOLOGIES FOR FOOD SAFETY TESTING (FOD011G) from BCC Research (www.bccresearch.com), the U.S. market for food-safety testing was valued at $3.3 billion in 2011 and is projected to increase slightly in 2012. In 2017, the market should reach nearly $4.4 billion after increasing at a five-year compound annual growth rate (CAGR) of 5.6%.

The food safety testing market can be split into five segments based on contaminant type: pathogens, toxins, GMOs (genetically modified organisms), residues, and others.

The pathogens segment is expected to increase from nearly $3 billion in 2012 to $3.9 billion in 2017, a CAGR of 5.7%.

Toxins are expected to jump from $141 million in 2012 to $162 million in 2017, a CAGR of 2.8%.

GMOs, worth $125 million in 2012, are expected to increase to $167 million in 2017, a CAGR of 6%.

Residues are expected to climb from $110 to $140 million from 2012 to 2017, a CAGR of 4.9%.

The segment made up of other contaminants should increase from $10 million in 2012 to $13 million in 2017, a CAGR of 5.4%.

The sheer number of food-borne-illness incidents continues to drive the development of a sizable testing industry. In addition to industry expenditures on tests, government expenditures earmarked to regulate and monitor food safety are now at least $2 billion annually at the federal and state levels. These latter expenditures add to the size of the food safety testing sector.

A principal force driving future growth of the food safety testing market is the enormity of the economic losses due to food-borne illnesses. Acute food-borne illnesses cost the U.S. economy an estimated $78 billion per year in healthcare, workplace, and other economic losses. A quarter of these costs is attributable to food-borne illnesses associated with fresh, canned, and processed produce. Not surprisingly, therefore, the Food and Drug Administration has proposed mandatory and enforceable safety standards for the growing, harvesting, and packing of fresh produce. These are the first nationwide safety standards for fresh fruits and vegetables.

This report will help its audience:

• Quantify the market for testing by specific contaminant.
• Discuss the development and marketing of food safety testing technologies
• Describe market trends for the various testing technologies in terms of how each test satisfies the needs of food processors and, in turn, consumers
• Identify new technologies and analyze patent activity
• Analyze the now-sizable expenditures in government food safety testing and the market effect of government regulatory programs
• Pinpoint market conditions for targeted food-processing industries
• Examine and profile the most active suppliers of food safety testing products and how they respond to market demands.

This BCC Research report should serve as a valuable basic reference and technology summary for companies interested in entering or expanding their presence in the food safety testing market. It should provide senior marketing personnel and executive planners with insight about contaminants, testing procedures for them, and the foods affected. The market projections and identification of new technologies also will be of interest to venture capitalists interested in exploring commercialization opportunities, and companies and personnel involved in designing and constructing ingredient manufacturing plants and/or those that service the plants. In addition, the report will be a key source for the novice reader who wants to understand how market pressures and technology interact in the food safety testing industry.  

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Global Markets and Technologies for Food Safety Testing( FOD011G )
Publish Date: Aug 2012    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.